<\/p>\n
Binance, the largest crypto exchange by trading volume, has endured more than $1 billion of net outflows in the past 24 hours, according to DeFillama CEX\u2019s transparency dashboard<\/a>. The outflows are coming on the heels of the exit of another top executive from the crypto trading firm.<\/p>\n According to DeFillama\u2019s data, Binance endured $1.4 billion in net outflows during the last 24 hours. A breakdown of the withdrawn assets shows that it comprised mainly $878 million in Tether\u2019s USDT stablecoin and $167 million in Bitcoin (BTC<\/a>). Other assets, including Solana (SOL<\/a>), Tron (TRX<\/a>), BUSD<\/a>, and XRP<\/a>, also recorded sizeable outflows during the reporting period.<\/p>\n Notably, this corroborates a CryptoSlate Insight<\/em> report<\/a> that stated that around $150 million worth of the top cryptocurrency had left Binance recently amid BTC on exchange balance plunging to a year-to-date low of 2.3 million.<\/p>\n Meanwhile, these outflows significantly pale to what the exchange has handled in the past. Earlier in the year, reports<\/a> emerged that the exchange had processed around $12 billion in outflows following the FTX collapse of last year.<\/p>\n<\/div>\n<\/div>\n Binance\u2019s crypto wallets hold $57 billion worth of digital assets, according to DeFillama data<\/a>.<\/p>\n<\/div>\n<\/div>\n Over the past week, the staff exodus at Binance continued with the resignation of the exchange\u2019s French subsidiary director, St\u00e9phanie Cabossioras.<\/p>\n Binance France President David Prin\u00e7ay confirmed<\/a> the exit in an Oct. 19 post on social media platform X (formerly Twitter).<\/p>\n Cabossioras\u2019s exit continued a trend that has seen more than five top-level executives leave\u00a0<\/a>the exchange this year, including its chief strategy officer, Patrick Hillmann, senior vice president for compliance, Steven Christie, general counsel Han Ng, and director of investigations, Matthew Price.<\/p>\n Aside from that, the exchange regulatory issues have continued unabated, with a Brazilian congressional committee recently asking for the indictment<\/a> of Binance CEO Changpeng Zhao and three other company executives for engaging in fraudulent management, offering or trading of securities without previous authorization, and operation of a financial institution without authorization.<\/p>\n In other jurisdictions like the United States, the cryptocurrency exchange is currently battling legal actions from two regulatory authorities, including the U.S. Securities and Exchange Commission (SEC<\/a>) and the\u00a0Commodity Futures Trading Commission (CFTC<\/a>), who both allege that the platform has violated federal laws with its operations.<\/p>\n The post Binance withdrawals spike to $1.4B in 24 hours amid continued executive departure and regulatory struggles<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Binance, the largest crypto exchange by trading volume, has endured more than $1 billion of net outflows in the past 24 hours, according to DeFillama CEX\u2019s transparency dashboard. The outflows are coming on the heels of the exit of another top executive from the crypto trading firm. According to DeFillama\u2019s data, Binance endured $1.4 billion […]<\/p>\n","protected":false},"author":2,"featured_media":178032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-178031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178031"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178031\/revisions"}],"predecessor-version":[{"id":178033,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178031\/revisions\/178033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178032"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Staff exodus amid regulatory struggles<\/span><\/h2>\n