Binance Sees Net Outflows of $2.1 Billion

Binance has reportedly experienced net outflows of $2.1 billion over what’s been a challenging week. The cryptocurrency exchange has seen these withdrawals during a seven-day period in which it announced it would end its offer of

Highlights

• Binance has reportedly experienced net outflows of $2.1 billion over what’s been a challenging week.
• The cryptocurrency exchange has seen these withdrawals during a seven-day period in which it announced it would end its offer of charging no fees on spot bitcoin trading.
• It encountered a software error that forced it to temporarily pause spot trading, and it was sued by the Commodity Futures Trading Commission (CFTC) The CFTC charged the company and CEO Changpeng Zhao with violating U.S.
• regulations.
• Binance said it has been working collaboratively with the CFTC for two years, that it finds the filing “unexpected and disappointing”

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