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
$1bn worth of assets withdrawn from Binance trading platform
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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.