CryptoMediaClub
Sunday, July 6, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Binance Sees Massive Outflows Following SEC Lawsuit: Data

06.06.2023
A A
0
130
VIEWS
ShareShare

The world’s largest crypto exchange Binance is witnessing significant net outflows as thousands of crypto traders withdraw their funds from the platform following the latest lawsuit from the United States Securities and Exchange Commission (SEC).

According to on-chain data from the blockchain analytics platform CryptoQuant, Binance recorded a net outflow of 11,380 BTC just the first day after the lawsuit was filed. With bitcoin trading at $25,739 at the time of writing, this makes a whopping $292.9 million in BTC outflows.

The data from CryptoQuant also revealed that the net outflow on ether (ETH) had reached 91,223, worth approximately $165.4 million at current market prices. The massive outflows are an attempt by investors to avoid any counterparty risks resulting from the SEC lawsuit against Binance.

Interestingly, Nansen also confirmed the larger number of ETH withdrawals, but the actual figures are slightly different.

ADVERTISEMENT

Not The Worst

CryptoQuant, however, noted that while the recent surge in withdrawals from Binance is relatively higher than the amount recorded by the exchange after it was sued by the CFTC in mid-March, they are smaller than some other significant outflows.

The report referenced the period of “regulatory FUD” following the collapse of FTX, where Binance recorded net outflows of 40,353 BTC, worth over $690 million, in one day. The exchange saw net outflows totaling $1.4 billion in BTC between December 10 and December 16, 2022. The ETH outflow was also at its peak at the time.

SEC Lawsuit Sparks Panic

The latest outflows result from recent claims made by the SEC alleging that Binance and its executive, Changpeng Zhao, breached multiple federal securities laws.

The lawsuit, which was filed on Monday, pointed out that the exchange’s American affiliate Binance.US had engaged in the sale of unregistered crypto securities, including BNB and BUSD tokens, without any authorization.

Among the many accusations, the SEC also claimed that the exchange wrongly moved and commingled customer funds and that CZ “secretly” remained in control of Binance.US despite claiming to be independent of the American entity.

While Binance has denied the claims made by the SEC, the lawsuit’s effect has already injected fresh panic into the crypto market, with BNB and other major assets trading in the red.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?
All news

Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?

06.07.2025
0

Bitcoin Cash (BCH) fell 7.8% this week as $BCH crashed through $485, just as futures open interest pumped 24%, exposing...

Read moreDetails
Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

06.07.2025
Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

06.07.2025
$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

05.07.2025
XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

05.07.2025
Load More
Next Post
UK Crypto Group Urges Government To Assess Risks of CBDC

UK Crypto Group Urges Government To Assess Risks of CBDC

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Top Crypto Gainers Today on DEXScreener – FWUG, SED, ZHOA

Top Crypto Gainers Today on DEXScreener – FWUG, SED, ZHOA

11 months ago
Cardano’s Upward Trajectory: Predictions Point to a $12 ADA

Cardano’s Upward Trajectory: Predictions Point to a $12 ADA

2 years ago
Bitcoin vs. CBDCs: The Rise, Concerns, and the Unending Debate

Bitcoin vs. CBDCs: The Rise, Concerns, and the Unending Debate

2 years ago
Chinese government-owned newspaper to launch NFT platform

Chinese government-owned newspaper to launch NFT platform

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

Ethereum Price Prediction: ETH Gains 4% This Week, Yet Golden Cross Flops – Is $3,000 Out of Reach?

Glassnode’s James Check Warns Bitcoin Treasury Boom Could Be Short-Lived

Crypto Traders on Alert as Sweden Expands Law to Seize Digital Assets

Sanctioned Russian Giant Rostec Bypasses Banks with Tron-Based RUBx Stablecoin

Trending

Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?
All news

Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?

06.07.2025
0

Bitcoin Cash (BCH) fell 7.8% this week as $BCH crashed through $485, just as futures open interest...

Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

06.07.2025
Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

06.07.2025
$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

05.07.2025
XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

05.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz