No ‘mass exodus of funds’ following Binance-DOJ settlement — Nansen

Blockchain analytics firm Nansen reported that following a settlement for civil and criminal charges against Binance and CEO Changpeng “CZ” Zhao, outflows from the crypto exchange didn’t result in a “mass exodus of funds.”

In a Nov. 22 X post, Nansen said roughly 24 hours after the United States Department of Justice announced a $4.3-billion settlement with Binance, the exchange has experienced a $956 million net outflow on Ethereum. However, Binance’s total holdings increased to more than $65 billion.

“[W]ithdrawals are continuing, and we’re not seeing a mass exodus of funds,” said Nansen. “In the past, Binance has processed higher volumes of outflow and negative…

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