Crypto

December 14, 2022

Billions Out Of Binance

Crypto jitters continue, and the FUD with Binance continues as well. 

Even though yesterday’s fears of USD Coin ($USDC.X) withdrawals getting a slight pause were mostly removed after U.S. banks opened up, the fear is still there. 

And you can see it in the on-chain analytics outflow data for Binance. 

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Yesterday saw a staggering $3.37 billion USDC taken out of Binance – the most since November 14, 2022.

But it wasn’t just USDC; Tether ($USDT.X) also saw massive outflows from Binance.

$1.64 billion in Tether taken off Binance.

And what about Binance’s stablecoin, BinanceUSD ($BUSD.X)?

$3.71 billion off the exchange.

All told, $8.37 billion in USDT, USDC, and BUSD were removed from Binance yesterday – a crazy amount of money. 💸

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