Live updates: Binance records $6 billion outflows after starting withdrawals, less then 4% of total holdings
Summary
Cryptocurrency exchange Binance experienced six billion dollars in customer withdrawals once a previous trading suspension ended. This outflow represented a small fraction of the platform's total assets, while competing trading platforms saw an increase in deposits during the same period.
The outflows followed a 45-hour withdrawal freeze after a $6.3 billion theft, with rival exchanges attracting deposits as customers regained access to their funds.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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