{"id":364536,"date":"2022-12-15T04:42:22","date_gmt":"2022-12-15T09:42:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=364536"},"modified":"2022-12-15T04:42:22","modified_gmt":"2022-12-15T09:42:22","slug":"binance-customer-withdrawals-reach-record-levels-is-bankruptcy-looming","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/binance-customer-withdrawals-reach-record-levels-is-bankruptcy-looming","title":{"rendered":"Binance Customer Withdrawals Reach Record Levels – Is Bankruptcy Looming?"},"content":{"rendered":"

Binance, the world’s largest crypto exchange by trading volume, endured a series of withdrawals on Monday, December 12, amid concerns about its proof of reserve report.<\/span><\/p>\n

Following the collapse of crypto exchange FTX,<\/a> panic spread across the crypto industry, making investors overly skeptical about the security and assurance that comes with centralized exchanges and service providers.  While Binance enjoys the trust of many in the crypto space beginning its launch, the next few weeks may not be as smooth. Already, Binance has recorded huge withdrawals, most of which have come in the last week summing up to $8.6 billion. <\/span><\/p>\n

In a<\/span> report<\/span>, blockchain analytics firm Nansen said that Tuesday recorded the highest amount of daily withdrawals since June, which pushed up the weekly figure to $8.6 billion, with a lesser inflow that left the Binance exchange with a significant deficit.<\/span><\/p>\n

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Binance Netflow 7D ($) -3,660,311,347<\/p>\n

8,783,380,428 – Outflow
5,123,069,081 – Inflow<\/p>\n

Exchange Flows dashboard ⤵️https:\/\/t.co\/CYrBQLryQ0<\/a> pic.twitter.com\/vV6vcqoWKK<\/a><\/p>\n

— Nansen 🧭 (@nansen_ai) December 13, 2022<\/a><\/p><\/blockquote>\n