Ad
Insights
Bitcoin investors seem indifferent on potential Binance asset freeze Bitcoin investors seem indifferent on potential Binance asset freeze

Bitcoin investors seem indifferent on potential Binance asset freeze

Data via Glassnode

Roughly only $100M of Bitcoin withdrawn yesterday from Binance

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  • Only around $100 million of Bitcoin was withdrawn yesterday from Binance, according to Glassnode.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.
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)