Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout

Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout
Zhao Changpeng, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, on June 16, 2022. Benoit Tessier/Reuters
Naveen Athrappully
Updated:
0:00

Billions of dollars have flowed out of Binance, one of the leading cryptocurrency exchanges in the world, as the industry struggles with the high-profile fallout of FTX.

Binance’s 24-hour net outflow hit $3 billion, according to a Dec. 13 tweet by blockchain data firm Nansen. The exchange reported more than $62.5 billion in disclosed holdings. During the past seven days, Binance has seen $8.78 billion in outflows and $5.12 billion inflows, bringing the total net outflow during the period to $3.66 billion.