2023-03-28
Binance sees an increase in withdrawals after the Commodities Futures Trading Commission sued for allegedly violating federal law and not registering in the United States.
Since the lawsuit was announced, $169 million has been withdrawn from the trading site, compared to just $46 million in deposits. Net outflows of $123 million.
Nansen, a crypto data provider, shows that Binance holds $63.7 billion worth of cryptocurrencies. The information is based on a list of wallets that the company has made public. To show transparency in holdings.
The lawsuit
alleges that Binance continues to serve U.S. customers, despite publicly
asserting that it is unable to provide services to U.S. customers. It claims
that Binance executives replaced information referring to U.S. customers with
the word "UNKWN," which stands for unknown.
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