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Bitcoin investors seem indifferent on potential Binance asset freeze Bitcoin investors seem indifferent on potential Binance asset freeze James Van Straten · 4 months ago
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Bitcoin investors seem indifferent on potential Binance asset freeze

Data via Glassnode

Roughly only $100M of Bitcoin withdrawn yesterday from Binance

James Van Straten / Jun. 7, 2023 at 10:19 am UTC

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  • Only around $100 million of Bitcoin was withdrawn yesterday from Binance, according to Glassnode.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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Analyst
James Van Straten
Research 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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