Last week, leading cryptocurrency exchanges Binance and Coinbase were shaken by lawsuits filed by the US Securities and Exchange Commission (SEC). Following this incident, Binance CEO Changpeng Zhao stated that outflows on central exchanges increased. #CZ #btc

Output Data:

Leading analysis platforms such as Nansen and DeFiLlama found that exchange outflows from Binance increased in the last seven days after news of the SEC lawsuit against Binance spread. According to Nansen's data, there was a net outflow of 2.36 billion dollars from Binance in the last week. There was an outflow of $123.7 million from Binance.US. While DeFiLlama reports outflows on Binance at $3.35 billion, Glassnode data shows that the exchange's BTC balance has decreased by 5.7 percent, or approximately $1 billion, over the past seven days.

Zhao's Statements:

By contrast, Binance CEO noted in a June 10 post that exchange outflow data may be misleading because some third-party analyzes measure the change in assets under management as “outflow.” Zhao instead claimed that the company's outflow in the last 24 hours on June 9 was around $395 million. Additionally, Zhao noted that large inflows and outflows are normal during periods of market volatility. #Binance

Analysis Platforms and Market Fluctuations:

With the statements of Binance CEO, it is necessary to understand the differences between the data of analysis platforms and the outflows on the stock market. While platforms typically measure the change in assets under management as “outflows,” the exchange itself only reports outflows that occur over a certain period of time. Additionally, it should not be forgotten that fluctuations in the market can also trigger large entries and exits. #SEC

In summary:

The fact that leading cryptocurrency exchanges such as Binance and Coinbase are facing SEC lawsuits has created concern among investors and they have started to withdraw their assets from the exchanges. Binance CEO Changpeng Zhao evaluated this situation with his statements about the exit data. While it was stated that the outflows within the stock market differed according to the data of the analysis platforms, Zhao emphasized that large inflows and outflows were normal during periods of fluctuation. $BTC