Nansen, the Hong Kong-based blockchain analytics platform, on Tuesday reported that $3 billion has been withdrawn from privately-held crypto exchange Binance in the last 24 hours. Binance CEO Changpeng Zhao (CZ) said in a Tweet this morning that Binance has seen about $1.14 billion of withdrawals during the business day. “We have seen this before,” CZ said. “Some days we have net withdrawals; some days we have net deposits. Business as usual for us.” CZ said it’s a good idea to “stress test” withdrawals on each crypto exchange “on a rotating basis.” The withdrawals comes as U.S. regulators charged Samuel Bankman-Fried with securities fraud and other offenses and Congress held hearings on the collapse of FTX on Tuesday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.