$5 Billion Withdrawn from Binance (BNB) Following Recent Turmoil

According to crypto analytics portal Delphi Digital, more than $5 billion were withdrawn from major cryptocurrency exchange Binance in a two-day period between Dec. 13 and 14. The outflow was triggered by rumors that U.S. prosecutors were considering charging Binance and executives with money laundering and sanctions violations.

.@binance saw more than $5B of net outflows between December 13th & December 14th.

This is the largest 2-day outflow since the exchange started providing proof of reserves on November 10th. pic.twitter.com/Spy9jAG0Vu

— Delphi Digital (@Delphi_Digital) December 15, 2022

The outflow was the largest since the black-and-yellow crypto giant began releasing its proof of reserves on Nov. 10. Back then, during the period of extreme market turbulence caused by the FTX collapse, $2.3 billion were withdrawn from Binance in a short period of time.

Binance (BNB): current state of affairs

It emerged today that audit firm Mazars, which audited Binance and other exchanges, will suspend services to crypto clients.

In the last 24 hours, however, according to Nansen, net outflows from Binance were $316.3 million, where with inflows of $783.8 million, $1.1 billion were withdrawn through key networks.

Binance currently holds $58.1B in their publicly disclosed wallets, including:

$15.4B $BUSD
$11.9B $USDT
$8.7B $BTC
$5.9B $BNB
$5.8B $ETH
$2.8B $USDC
And others

Check here for free: https://t.co/x1ITMCnEDw pic.twitter.com/VS6rWDvSEK

— Nansen 🧭 (@nansen_ai) December 16, 2022

At the moment, the publicly disclosed wallets of the exchange-ecosystem contain $57 billion in assets. Of this amount, 26.94% is in BUSD, 20.83% in USDt and 14.79% in Bitcoin (BTC). Binance’s own token, BNB, accounts for 9.95%. Since the beginning of the week, BNB has lost 12.24% and now trades at $249.8 per token.