Insights

Bitcoin investors seem indifferent on potential Binance asset freeze

exchange68September 13, 2024

0 0 1 minute read

Quick Take

Due to the news yesterday of the SEC requesting a restraining order to freeze Binance.US assets temporarily.
Looking on-chain, customers don’t seem overly concerned, as we would expect an outpour of assets such as Bitcoin from Binance.US and even Binance.com, but it appears it was not the case.
Only around $100 million of Bitcoin was withdrawn yesterday from Binance, according to Glassnode.
Binance proof of reserves claims 633,642 BTC in net balances, roughly $17 billion.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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