Over $1 Billion Withdrawn from Binance Following CEO’s Departure and Guilty Plea
$Binance Coin(BNB.CC$ Binance sees over $1 billion in outflows in 24 hours, not including Bitcoin.
CEO Changpeng Zhao steps down amid a guilty plea in a Department of Justice deal.
Binance agrees to a hefty $4.3 billion fine, concluding a long-standing investigation.
The exchange's native token, BNB, drops over 8% following the news.
Binance phased out zero-fee Bitcoin trading in March, affecting its spot trading share.
Despite outflows, Binance reportedly has the capital to manage a sudden withdrawal surge.
The market sees a general rebound, with 98 of the top 100 cryptocurrencies recovering.
Binance agrees to a hefty $4.3 billion fine, concluding a long-standing investigation.
The exchange's native token, BNB, drops over 8% following the news.
Binance phased out zero-fee Bitcoin trading in March, affecting its spot trading share.
Despite outflows, Binance reportedly has the capital to manage a sudden withdrawal surge.
The market sees a general rebound, with 98 of the top 100 cryptocurrencies recovering.
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Sg-Jin : More outflows is a good thing. Supply shock the exchanges, buy Bitcoin keep in hardware wallet.
The SEC will end up pushing btc much higher with their moves.