Binance saw $1 billion in net outflows over the last 24 hours
Binance, the world’s largest crypto exchange, saw a significant uptick in withdrawals during news that its founder pleaded guilty to criminal charges in the U.S. Data from DefiLlama showed that Binance’s 24-hour outflows topped $1 billion as of 3:30 p.m. Hong Kong time on Wednesday. The exchange's net outflows over 7 days amounted to $703.1 million. Of the total outflows experienced by Binance, $605.9 million.
The withdrawals come after Binance co-founder Changpeng Zhao pled guilty on Tuesday to violating the Bank Secrecy Act and stepped down as the company’s CEO. Binance has since appointed Richard Teng as CEO. As part of the plea deal, Zhao agreed to pay a $50 million fine. Binance will also pay a $4.3 billion fine after it pled guilty to several counts including money laundering, conspiracy to conduct an unlicensed money transmitting business, and sanctions violations. Meanwhile, OKX enjoyed net inflows of $152 million in the past 24 hours, giving it the largest daily inflow today, followed by Bybit’s $50.9 billion and Bitstamp’s $30.5 million, according to DefiLlama.
Source
https://t.me/Bitcoin_Crypto_Signals
