UPDATE: Binance outflows reach $6B after withdrawal reopening
CIE News ·
Update to UPDATE: Binance records $3.64B in net outflows after reopening withdrawals
Based on reporting by CoinDesk; not yet independently confirmed.
Binance recorded $6 billion in outflows following the restoration of withdrawals, CoinDesk reported. The volume represents under 4% of total exchange holdings, up from an initial $3.64 billion.
Binance has recorded $6 billion in outflows following the restoration of withdrawal services, CoinDesk reported, up from an earlier report of $3.64 billion in net outflows. This updated volume represents less than 4% of the exchange's total holdings as rival exchanges attract the customer deposits. The earlier $3.64 billion in outflows, reported by The Block after withdrawals resumed following a record hack, had accounted for 2.1% of the exchange's $171 billion in assets.
Key facts
- $6B in total outflows
- Under 4% of holdings
- $3.64B earlier net outflows
- Withdrawals restored