Rules Navigator

Register

$1bn worth of assets withdrawn from Binance trading platform

Binance CEO Changpeng Zhao. Photo: Getty Images

Carmen Cracknell

 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

The news coincides with the arrest of former FTX CEO Sam Bankman-Fried and follows reports that the US Department of Justice has discussed possible plea deals with Binance’s lawyers following a spate of cases in 2018 where criminals reportedly used Binance to transfer illicit funds.

Binance CEO Changpeng Zhao, also known as CZ, said on Tuesday on Twitter his exchange had processed around $1.14bn of withdrawals, but said a day later “things seem to have stabilized,” adding that the Luna and FTX collapses of May and November 2022 respectively saw more withdrawals. Binance is the

Blockchain

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in
, , ,
You may also like