The SEC's lawsuit filed against Binance yesterday evening did not create many problems in the general functioning of the exchange. Over-the-counter data shows that the Bitcoin outflow seen on the platform corresponds to only 1.5% of the BTC on the exchange.
Although the lawsuit filed by the US Securities and Exchange Commission (SEC) against the Binance exchange has had a major impact on the crypto world, the same impact has not been experienced on the exchange itself.
Glassnode, an on-chain data platform, informed the exchange that approximately 10,000 BTC issued from the platform after the lawsuit was filed corresponds to 1.5 percent of the exchange's total Bitcoin reserve. Glassnode also noted that the outflows were much larger during the banking crisis in March.
As can be seen in the graph below, the sharp drop in price is not reflected in the presence of Bitcoin on Binance.
 Similar data was shared from CryptoQuant, another on-chain data platform. Platform CEO Ki Young Ju noted that looking at the overall photo, the outflows are not very large. The graph shows that there are much larger outflows from the stock market at the end of 2022 and in 2023.
November December, as it will be remembered, after the FTX crash, the crisis had grown even more and there had been billions of dollars of cryptocurrency outflows from Binance in a few days. Apart from a few minor problems, the exchange had managed to pay all the payments.
