On Tuesday, the SEC filed a lawsuit against Binance and its founder for allegedly violating federal securities laws. Nansen.ai data shows that Binance experienced outflows of $719 million across all protocols in a 24-hour period, with net outflows of $230 million during U.S. trading hours.

Despite this, Binance's stablecoin balance remains healthy, with a balance of just over $8 billion and a seven-day outflow of $519 million. The SEC also alleged that several tokens, including Binance's BNB token, are securities, and many of these tokens saw declines during the Asia trading day.