Binance Customer Withdrawals Jumps Over $3.5 Billion In A Week

Binance Customer Withdrawals Jumps Over $3.5 Billion In A Week
фото показано с : zycrypto.com

2022-12-15 18:51

Binance has recorded massive withdrawals in the last seven days sparking concerns over the future of the exchange.

The exchange saw $8.6 billion leave its platform and only a $5.1 billion inflow leading to a $3.6 billion deficit. Binance CEO Changpeng Zhao has played off fears describing it as a “business as usual” with some bad days and good days.

Sequel to the collapse of FTX, panic has ravaged the industry, with investors more sceptical than ever about centralized exchanges and service providers.

Although Binance has enjoyed the trust of millions of users since its launch, a lot may be changing in recent weeks. Binance has recorded huge withdrawals, most of which have come in the past seven days totalling up to $8.6 billion.

According to blockchain data analytics firm Nansen, the firm recorded the highest amount of daily withdrawals since June on Tuesday, pushing up the weekly figure to $8.6 billion. Amidst increasing withdrawals, the exchange had an inflow of $5.1 billion, leaving it with a net outflow of $3.6 billion.

Binance withdrawal figures topped other centralized exchanges (CEXs), including Coinbase and Binance US, which both had net outflows of about $800 million and $38.7 million respectively. Crypto firms like JumpCrypto among others lead the pack in making the highest withdrawals on Binance. In two weeks, the firm has taken off $141 million from Binance’s balance sheet. 

Despite this ugly trend, Zhao has played down the fears of users describing the incident as “business as usual.” 

“We saw some withdrawals today. I actually think it is a good idea to ‘stress test withdrawals’ on each CEX on a rotating basis.” 

In the midst of record withdrawals, Binance still holds assets worth over $58 billion, signalling a strong financial base for the exchange. 

More fear mounts as USDC withdrawal halted

On Tuesday, Binance temporarily halted withdrawals of USD Coin (USDC), with Zhao citing “token swap issues.” Recall that Binance announced a token swap policy in September, which will see USDC and two other stablecoins converted to BUSD.

The initial halt raised a lot of eyebrows and tension, with the CEO explaining that they received an increase in USDC withdrawals and the banks were not open for two hours of the halt because swapping tokens requires traditional fiat at the bank.

Withdrawals of USDC have resumed on the exchange, with the company giving an assurance that funds are backed 1:1.

origin »

Binance Coin (BNB) на Currencies.ru

$ 702.78 (-0.80%)
Объем 24H $2.234b
Изменеия 24h: -0.22 %, 7d: 1.15 %
Cегодня L: $695.75 - H: $712.72
Капитализация $101.205b Rank 5
Цена в час новости $ 266.8 (163.41%)

withdrawals binance days sparking future exchange seven

Источник: zycrypto.com

withdrawals binance → Результатов: 126


High-Octane Solana Network Forces Binance To Halt Withdrawals – What’s Brewing?

In a surprising twist, Binance, the crypto exchange behemoth, has hit the brakes on Solana (SOL) withdrawals due to a colossal surge in network activity. The Solana blockchain, known for its lightning-fast transactions, finds itself entangled in a web of congestion, prompting Binance to announce a temporary suspension of withdrawals, effective since March 4, 2024. […]

2024-3-7 18:00


Binance сообщила об окончании технических работ

Криптовалютная биржа Binance завершила технические работы, стартовавшие на её платформе сегодня в 05:00 МСК. #Binance System Upgrade Complete Trading activity will resume at 10:00 AM (UTC). From now until the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account-related functions.

2019-8-16 12:36


Based in Singapore? Binance now Allows you to Trade With Fiat

Global cryptocurrency exchange Binance has just announced that it is now supporting fiat currency deposits and withdrawals for its Binance Singapore users. The platform, which launched similar ventures earlier this year in Jersey and Uganda, will allow Singapore residents or Singapore citizens based overseas, to buy a number of cryptocurrencies with Singapore Dollars.

2019-7-11 19:02


Зачисление депозитов на биржу Binance станет быстрее

Криптовалютная биржа Binance в этот вторник сообщила об уменьшении числа подтверждений, необходимых для зачисления средств на счета пользователей в сетях двух ведущих криптовалют. . @binance has just cut the number of block confirmations needed to make withdrawals and deposits in two top cryptocurrencies.

2019-7-9 15:20


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

USUAL token price soars after Binance Labs investment

Binance Labs has revealed its investment in the $10 million Series A USUAL funding round. Following the revelation, the USUAL token price has soared by over 20%. Another key player that participated in the funding round is Kraken.

Haven Protocol Token (XHV) crashes after mint exploit

Haven Protocol suffered a mint exploit, with over 500 million XHV tokens minted illicitly, The hack has sent the price of the XHV token down by over 60%. Hacker(s) exploited a vulnerability in the range proof validation code, introduced during the Haven 3.

GRVT becomes world’s first regulated DEX after licensing in Bermuda

GRVT has secured Bermuda’s Class M license, becoming the first regulated DEX globally. GRVT combines 600,000 TPS with compliance, aiming to be the “Goldman Sachs on blockchain. ” GRVT plans global expansion, aligning with MiCA and ADGM for broader regulatory approval.