{"id":196838,"date":"2023-11-24T08:19:57","date_gmt":"2023-11-24T12:19:57","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=196838"},"modified":"2023-11-24T09:22:16","modified_gmt":"2023-11-24T13:22:16","slug":"huge-attack-on-cryto-cryptocurrency-investors-pull-over-1-billion-out-of-binance","status":"publish","type":"post","link":"http:\/\/stateofthenation.co\/?p=196838","title":{"rendered":"

HUGE ATTACK ON CRYTO! Cryptocurrency investors pull over $1 billion out of Binance<\/b><\/h2>"},"content":{"rendered":"

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READ HERE<\/a>:<\/strong> The world\u2019s largest crypto exchange Binance saw a sharp uptick in withdrawals after its founder and CEO Changpeng Zhao pleaded guilty to criminal and civil charges in the US, it was reported on Wednesday. The company also faces over $4 billion in fines.<\/h3>\n

Outflows from Binance have amounted to more than $1 billion in the past 24 hours, not including bitcoin, market data revealed. Its liquidity has dropped 25% over the same period as market players pulled back their positions, according to data provider Kaiko.<\/h3>\n

Binance\u2019s native token BNB fell by more than 9%, CoinGecko data showed. The crypto exchange holds around $2.8 billion worth of BNB tokens, according to blockchain analysis firm Nansen.<\/h3>\n

Although the outflows are significant, assets of more than $65 billion remain on the platform, meaning there has not yet been a\u00a0\u201cmass exodus\u201d<\/em>\u00a0of funds from the exchange. Experts say Binance is likely\u00a0\u201ccapitalized enough to withstand\u201d<\/em>\u00a0a sudden withdrawal of investors.<\/h3>\n
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