Binance sees over $45m in funds withdrawn amidst criminal charges
Binance faces significant user fund outflows and a drop in BNB value following the DoJ’s criminal charges and CEO Changpeng Zhao’s potential departure. Binance is seeing significant outflows from its exchange following the earlier news of the U.S. DoJ charging the leading exchange with three major crimes. Nansen, a blockchain analytics firm, reported a noticeable outflow from the exchange, as investors are withdrawing funds . Specifically focusing on the Ethereum ERC-20 network, Nansen observed a startling increase in net outflows, escalating from $10,000 to a staggering $45 million within just an hour. Since our first update on @binance, it appears that users are withdrawing funds from the exchange based on market rumors Netflow has gone from -$10K to -$45M over the past hour (Ethereum only)https://t.co/SikCRA6zl2 pic.twitter.com/cShuIJ76DN — Nansen (@nansen_ai) November 21, 2023 More details about Binance’s charges are set to be revealed today, as the DoJ is hol...