Binance not experiencing "mass exodus of funds" following settlement, says blockchain analytics firm Nansen
Blockchain analytics company Nansen has reported that despite a settlement for civil and criminal charges against Binance and its CEO, Changpeng “CZ” Zhao, there has not been a significant outflow of funds from the exchange. Nansen stated that while there was a $956 million net outflow on Ethereum within 24 hours of the $4.3 billion settlement announcement by the US Department of Justice, Binance's total holdings increased to over $65 billion. Nansen also noted that withdrawals are continuing, and there has not been a mass exodus of funds. Tether (USDT) holdings on Binance decreased the most over the last 24 hours, while holdings of XRP and TrueUSD (TUSD) remained steady.
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