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Binance Customer Withdrawals Exceed $3 Billion in 24 Hours

Behemoth crypto exchange Binance has seen massive withdrawals in the past week and—on Tuesday—the highest amount of one-day withdrawals since June, Nansen data has revealed. 

Binance’s international arm saw over $8.78 billion leave its exchange and $5.1 billion in incoming funds, meaning the exchange faced a net outflow of roughly $3.66 billion. While such data only refers to Binance’s Ethereum and ERC-20 token movements, approximately 63% of Binance’s portfolio is on Ethereum and the outflows are much larger compared to other crypto exchanges over the same period.

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