Withdrawal Volume on Binance has increased After Paxos-BUSD drama happened

The number of withdrawals on Binance stood at $831 million in the last 24 hours, according to Nansen, the most in a day since November.

This may indicate that investors are frightened by the enforcement of the law, regarding the Stablecoin Binance USD ( BUSD ) issued by Paxos, thereby reducing its holdings.

Blockchain data on Nansen shows that users have withdrawn $2.8 billion worth of digital assets in the last 24 hours, more than $2 billion in deposits over the same period.

This daily net outflow was the largest from Binance since November, surpassing December's outflow. During the period of rumours of reserves and alarming investors.

Paxos previously received an SEC notification about BUSD after regulators accused Paxos of issuing unregistered securities stablecoins.

Changpeng "CZ" Zhao, binance's chief executive, reassured investors in a tweet: The client's money is safe.

Ref. CZ 🔶 Binance on Twitter 

However, CZ's team also cheer up him to through this crisis soon after having withdrawal volume on Binance has increased After Paxos-BUSD drama as you know. 

 CZ said, " FUD is temporary. " 

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