Binance users are withdrawing their crypto assets following the recent regulatory scrutiny of one of the exchange’s products.
In the last 24 hours, the exchange saw outflows of $621 million, according to a Wu Blockchain report. The outflows had dropped to $460 million as of press time, according to DeFillama data.
Binance recorded $916 million in outflows in Ethereum-based (ETH) tokens on Feb. 13 — its highest daily withdrawal since Nov. 24, 2022, according to dune analytics data.
(By Oluwapelumi Adejumo)
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