Investors seem to be moving funds back to Binance after rushing to withdraw them the other day
The Bloomberg Terminal Twitter handle just shared that investors are sending funds back to Binance.
Citing data company Nansen as a source, the handle stated that over the past 24 hours, the Ethereum wallets of the crypto exchange have seen net inflows of roughly $718 million in crypto.
On December 13th, U.Today covered that in the past 24 hours, Binance saw massive withdrawals of Ethereum and ERC20 tokens, totaling nearly $2 billion.
Earlier today, head of Binance exchange CZ tweeted that large withdrawals from the platform had calmed down and stabilized; deposits had begun to flow in.
He tweeted that the withdrawals processed by Binance on December 13 were not even the top five. According to CZ, during the LUNA crash of FTX and Terra people moved their crypto away from the exchange.
Yesterday, CZ confirmed that the Binance team had processed roughly $1.14 billion in crypto in net withdrawals. But he referred to that as “business as usual,” saying that sometimes they get net withdrawals, and sometimes it is net deposits.
Investors began pulling their money out after news broke that the US prosecutor’s office was considering charges against Binance for money laundering and sanctions violations.
CZ commented on that, stating that this is nothing but FUD.
