Binance, the leading cryptocurrency exchange, experienced a net outflow of approximately $392 million in the past 24 hours. This comes amidst volatile market conditions following a lawsuit by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase. Binance CEO Changpeng Zhao (CZ) clarified that outflows should not be conflated with changes in assets under management (AUM) and attributed the outflows to arbitrage traders capitalizing on price differences across platforms. Despite the outflows, Binance still holds a substantial balance of Bitcoin, with 694,000 BTC in its exchange addresses. Additionally, data firm Nansen reported a significant outflow of $780 million from Binance on June 6, indicating increased market activity after the regulatory news.
