Binance CEO Changpeng Zhao has disputed reports of a significant outflow of crypto assets from the exchange, arguing that third-party analytics may be skewing the data. While analytics platforms including Nansen and DeFiLlama have reported increased outflows from Binance in the wake of the SEC lawsuit against the firm, CZ claimed that the outflow over the past 24 hours was around $392 million.
He also noted that large inflows and outflows are normal during times of volatility and that some third-party analytics measure changes in assets under management as "outflow," which can include times when crypto prices decline. Since the SEC's attacks on Coinbase and Binance, crypto market capitalization has declined by 7%, according to CoinGecko.
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