Binance has seen $1.9 billion in withdrawals in the last 24 hours
Binance has been going under some hard time now due to rumors and claims that leaked online. Here all the details.
Blockchain data firm Nansen said on Tuesday that Binance, the largest cryptocurrency exchange in the world, had "temporarily paused" withdrawals of the USDC stablecoin, and that the platform had received withdrawals totaling $1.9 billion in the last 24 hours.
Binance has seen $1.9 billion in withdrawals in the last 24 hours
As part of #Binance’s user fund transparency work and Proof of Reserves updates, we're working with digital assets experts at global financial audit, tax and advisory firm, @Mazars_SA.
— Binance (@binance) December 7, 2022
The first report from Mazars about Binance’s $BTC Proof of Reserves has been published today.
A so-called proof-of-reserves report from audit firm Mazars was recently tweeted by Binance, whose dominance of the cryptocurrency market was strengthened by the bankruptcy of rival exchange FTX. According to the report, on one day in November, its bitcoin holdings exceeded customer deposits. According to Nansen data, the $1.9 billion figure is the highest daily outflow since at least June and accounts for most of the $2.2 billion in etheruem-based withdrawals over the past seven days.
On USDC, we have seen an increase in withdrawals. However, the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD. The banks are not open for another few hours. We expect the situation will be restored when the banks open. 1/2
— CZ 🔶 Binance (@cz_binance) December 13, 2022
