According to data from DeFillama, the total assets of the Binance exchange fell to 55.95 billion USD from 64.195 billion USD recorded on June 5. Blockchain analysis firm Nansen also confirmed that the number Binance’s aggregate reserve balance is $54.3 billion at press time.
On-chain asset analysis shows that Binance holds $15.35 billion worth of assets on the Tron network, $15.29 billion on Bitcoin, and $12.39 billion on Ethereum. In addition, Binance also has a large amount of assets on blockchains such as BSC, Ripple, and Solana.
BINANCE’s cash flow continuously decreases for 5 days in a row
Data from DeFillama shows that Binance has recorded net withdrawals since June 6 – a day after the financial regulator sued the exchange for violating federal securities laws.
Despite Binance repeatedly asserting that users’ funds are safe, the total withdrawals have surpassed $3 billion since the lawsuit occurred. Around this time, the SEC froze the assets of Binance US and ordered the summons of CEO Changpeng “CZ” Zhao for questioning.
Meanwhile, outflows on the Binance platform have dropped significantly to $69.57 million since June 11, according to data from DeFillama.
However, this withdrawal was insignificant compared to what Binance handled after the FTX crash in November 2022. At that time, Binance processed over $6 billion in withdrawals as crypto users. switch to self-monitoring exchanges.
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