Amid a lawsuit from U.S. regulators, users started actively withdrawing funds from Binance accounts, whose assets decreased by $1.5 billion during the day.
The volume of assets in Binance accounts dropped by $1.5 billion on March 27, Nansen reports. According to on-chain analytics, the crypto exchange has a total of ~$63.5 billion in accounts, of which:
- ~$19 billion in USDT;
- ~$14.5 billion in BTC;
- ~$7.6 billion in ETH;
- ~$7.1 billion in BUSD;
- ~$3.2 billion in BNB, etc.
Coinglass data shows that Binance has ~$55.1 billion in total assets, but it decreased by ~$652.6 million over the last day. The same service reports that more than 4,354 BTC were withdrawn from Binance accounts during the last 24 hours.
According to CryptoQuant, users withdrew over 7,100 BTC from CEXs over the last day. The first cryptocurrency reacted to the news about Binance with a sharp drop in value, falling below $27,000 and losing more than $1,000 in an hour, according to CoinGecko. As of 13:00 (GMT+3), March 28, BTC is still trading at around $27,000. There’s no mass sell-off, the market is “frozen” in anticipation of further developments, the FUD effect is limited.
Earlier, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its CEO Changpeng Zhao, accusing the company and its head of intentionally violating American law. However, CZ denied the charges, and members of the cryptocurrency community found many questionable points in the regulator’s indictment documents.
