$ 2.95 billion was withdrawn from Binance exchange in a day

Users of Binance, the world’s most popular cryptocurrency trading platform, have made a record withdrawal of funds from the platform. According to researchers at DefiLlama, $ 2.95 billion in digital asset outflows from Binance wallets were recorded over the past day. According to the experts, customers withdrew USDC, bitcoin, and ethereum stablecoins.

Nansen experts emphasized that the exchange has experienced the highest daily outflow since June of this year. Currently, Binance has frozen withdrawals in the USD Coin (USDC) stablecoin. As explained by the platform’s representatives, the temporary suspension of withdrawals is due to the working hours of banks in the United States.

These are 1:1 conversions, no margin or leverage involved. We will also try to establish more fluid swap channels in the future. In the meantime, feel free to withdraw any other stable coin, BUSD, USDT, etc. 🙏2/2

— CZ 🔶 BNB (@cz_binance) December 13, 2022

«We are seeing an increase in USDC withdrawals. However, to exchange from PAX/BUSD to USDC, you need to use a bank in New York. Banks will be closed for a few more hours. We expect everything to resume when the banks open. This is a 1:1 conversion, with no margin or leverage. In the future, we will try to establish more flexible exchange channels. In themeantime, feel free to withdraw any other stablecoin, BUSD, USDT, etc.», Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao wrote on his Twitter page.

As for the exchange’s native token, BNB $622.86 BNB 2.44% Market capitalization $90.87 billion VOL. 24 hours $0.44 billion , it dropped by 4.8% over the week. The value of other cryptocurrencies controlled by Binance also fell — yesterday, TWT $0.96 Trust Wallet 5.03% Market capitalization $0.4 billion VOL. 24 hours $4.4 million lost 17% of its value in a few hours. The sharp drop in the token was caused by the spread of FUD after a Reuters article about Binance.

The journalists posted a new article about the completion of the US Department of Justice’s investigation into Binance’s compliance with anti-money laundering laws and sanctions. According to the publication’s representatives, law enforcement agencies and US government officials are currently deciding on the «further fate of the exchange,» and some officials are demanding that a criminal case be opened against Changpeng Zhao. However, the founder of Binance and his team denied this information.