The recent SEC lawsuit against Binance has had a significant impact on the crypto market and the exchange's balance sheet. Nansen's data shows that Binance experienced a negative netflow of $778 million on the Ethereum blockchain, with $871 million worth of assets flowing in and $1.6 billion worth of assets flowing out.
Even Ethereum-based tokens have seen a negative netflow in the first 24 hours following the lawsuit. Binance's reserve assets had a net outflow of approximately $1.4 billion within the first hour of the news, accounting for 2.6% of its total reserve assets. Further updates will be provided as more information becomes available.
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