Bitcoin investors seem indifferent on potential Binance asset freeze

Roughly only $100M of Bitcoin withdrawn yesterday from Binance

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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  • Only around $100 million of Bitcoin was withdrawn yesterday from Binance, according to Glassnode.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)
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James Van Straten
James Van Straten
Former Lead Analyst 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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