Binance CEO: According to our data, last 24 hours, Binance net outflow is about $392 mln.
According to Binance CEO Changpeng Zhao (CZ), the cryptocurrency exchange Binance experienced a net outflow of approximately $392 million in the past 24 hours. CZ clarified that these outflows should not be confused with changes in assets under management (AUM) and that they are often the result of arbitrage traders taking advantage of price differentials across platforms.
CZ provided context by mentioning that Binance had previously processed a net outflow of $7 billion in a single day in November of the previous year. This recent outflow, while significant, is smaller than the peak net outflow of 40,300 Bitcoin (BTC) reported by Glassnode following the U.S. Securities and Exchange Commission’s civil charges against Binance.
Despite the outflows, Binance still holds a substantial balance of Bitcoin, with approximately 694,000 BTC in its exchange addresses. This is only 10,500 BTC away from its all-time high balance of 704,500 BTC, indicating that Binance continues to hold a significant amount of Bitcoin despite recent developments.
Data firm Nansen also reported a substantial outflow of $780 million from Binance on June 6, suggesting increased market activity in response to regulatory news.
Source: https://u.today/binance-discloses-392-million-net-outflow-in-past-24-hours