Categories: Top Stories

Breaking: Binance Customers Withdraw $1.9 billion In Just 24 hours

Binance, the world’s largest crypto exchange saw withdrawals of $1.9 billion in just 24 hours.

That was according to blockchain data firm Nansen on Tuesday (December 13).

Advertisement

Binance is run by crypto tycoon Changpeng Zhao, or CZ.

It’s enjoyed heightened dominance since the collapse of rival exchange FTX.

Advertisement

But it has also been trying to reassure investors over its finances, last week tweeting a report by auditors.

It showed that its bitcoin reserves exceeded customer deposits on at least one day in November.

Advertisement

However, Nansen says the new withdrawals flow from lingering worries over Binance’s reserves.

Separate reports on Monday (December 12) had showed an outflow of over $900 million that day.

Advertisement

On Tuesday the firm also said it was pausing withdrawals of one particular token.

The reports come when the exchange was already under pressure.

Advertisement

It’s facing a probe by U.S. authorities over its compliance with money laundering laws and sanctions.

Watchdogs are reportedly divided over whether to press charges right now.

Advertisement
Sola Adeyemo

Recent Posts

Breaking: FIRS Announces Fresh Recruitment, See Eligibility Criteria, Application Deadline

The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to…

7 hours ago

Primate Ayodele’s Prophecies For 2025

Primate Elijah Ayodele Unveils 94-Page Prophecy for 2025, Makes Striking Predictions About Nigeria’s Political and…

10 hours ago

Tinubu’s Aide Condemns Plan To Reinstall ‘Jesus Is Not God’ Banner In Lekki Mosque

The Senior Special Assistant to President Bola Tinubu on Community Engagement (North Central), Abiodun Essiet,…

12 hours ago

President Tinubu’s reforms not responsible for food stampedes – FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

12 hours ago

I will be more influential in Nigeria than UK – Tobi Adegboyega

Tobi Adegboyega, founder of the Salvation Proclaimers Anointed Church (SPAC Nation), has stated that he…

12 hours ago

Petrol To Sell ₦‎935/Litre From Today – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell…

13 hours ago