Investors have withdrawn around $790 million from Binance and its U.S. affiliate following the SEC's lawsuit against the company and its CEO Changpeng Zhao.
Data firm Nansen reported that almost $779 million in crypto tokens were pulled from Binance, while $13 million worth were withdrawn from Binance.US. Binance's cryptocurrency coin's stock has dropped 10% in the past five days, with a significant drop occurring in the last two hours before market close on Monday.
The SEC has also filed a lawsuit against Coinbase, causing the company's stock to fall more than 16% in less than an hour.
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