Binance CEO CZ responds as data points to billions in exchange outflows

CZ rather declared the firms outflow over the past 24 hours on June 9 was around $392 million, which pales in contrast to the $7 billion in one-day outflow that was taped in 2015 in November, around the time of FTXs collapse. CZ continued to explain that big inflows and outflows are completely typical throughout times of volatility.” Some even just measure outflow, not inflows. On a sharp rate motion day like today, many arbitrage traders move a lot of funds in between exchanges, typically exponentially more than on normal days.” Related: Binance says its various from other exchanges in the middle of SEC lawsuitSince June 6 when the SEC unleashed its attacks on both Coinbase and Binance, crypto market capitalization has actually decreased by 7%, or more than $80 billion, according to CoinGecko.On June 9, Cointelegraph reported that decentralized finance (DeFi) volumes rose more than 400% following the twin claims targeting central exchanges. Publication: Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodlers Digest, June 4-10

Leading analytics platforms such as Nansen and DeFiLlama have all determined increased exchange outflows from Binance over the previous 7 days after news of the SEC claim against the firm hit the airwaves. Source: DeFiLlamaHowever, in a June 10 Twitter post, CZ argued that some exchange outflow data can be manipulated as some third-party analytics step change in possessions under management as “outflow,” which would consist of times when crypto costs decline.According to our information, last 24hrs, @Binance net outflow is about $392m. Some 3rd celebration analytics measure Change in AUM (possession under management) in USD equivalent as outflow.