Fund withdrawal or outflow topped $1 billion, according to Nansen.
Prices of tokens identified in SEC lawsuit dropped between 5-15% in 24 hours.
Changpeng Zhao
Investors are pulling out their funds from Binance following the US securities regulator’s lawsuit against the
top cryptocurrency exchange for alleged multiple
violation of federal securities laws. The Securities and Exchange Commission
(SEC) in a complaint filed on Monday accused Binance of operating illegal exchanges, offering unregistered
crypto asset securities and commingling client funds, among other allegations.
Fund Withdrawal from Binance Tops $1B
According
to a Dune Analytics chart by 21Shares, a crypto investment product
provider, outflow from the trading platform reached about $1.5 billion on Monday (yesterday) with
inflow standing at $783 billion and net flow at $701.8 billion. This is in
sharp contrast to outflow of $285.8 billion a day earlier. However, by Tuesday (today), outflow or withdrawal slowed down to 587.5 million with inflow improving to about $364.8 million
Data firm Nansen in a tweet on Tuesday also disclosed that users have
withdrawn about $1.65 billion in the past 24 hours from Binance via the
Ethereum blockchain. This compares to deposits or inflow of $871.7 million
within the period. In addition, net flow, or the difference between the total amount of money
flowing into and out of the exchange on Ethereum stood at a
negative of $778.6 million.
In particular, Nansen said investors on Binance.US, the crypto exchange’s US arm, withdrew about
$24.5 million compared to an inflow of $11.5 million and a negative net flow of
$12.9 million.
“Over the
past hour, netflow on
Ethereum continues to be negative at $35.7M on Ethereum - $14.8M in and $50.5M
out,” Nasen tweeted.
Binance
faced a similar withdrawal pressure in February when reports emerged that the SEC
plans to sue Paxos, the issuer of Binance USD (BUSD) tokens, over supposed violations of user protection regulations. At the time, Binance saw about
$2.8 billion leave its platform within a 24-hour period, CoinDesk reports.
Crypto
Prices Drop
Meanwhile, SEC in its complaint accused Binance of unregistered offering and sale of its token BNB, stablecoin BUSD, and 10 other tokens: SOL (Solana), ADA
(Cardano), MATIC (Polygon), FIL (Filecoin), ATOM (Cosmos), SAND (Sandbox), MANA (Decentraland),
ALGO (Algorand), AXS (Axie Infinity) and COTI (COTI).
In response to the news, the prices of these tokens have experienced some
price drops, according to data on CoinMarketCap. For instance, the price of BNB currently stands at
about $279.55, down by 7.33% in the last 24 hours. On the other hand, the price
of BUSD only dropped marginally by 0.02% in the last 24 hours to $0.99.
In addition, data on CoinMarketCap shows that the price of the other tokens have slumped between about 5-15% between the said period.
How the prices of some crypto and tokens have changed over the past 24 hours. Source: CoinMarketCap
Meanwhile,
in its complaint before the US district court in Columbia, SEC claimed that
Binance.US provided unregistered profit-generating programmes ‘BNB Vault’ and
‘Simple Earn’ as well as crypto staking products, to US investors. The securities watchdog also accused Binance and CEO/Founder Changpeng Zhao of commingling or
diverting customer assets to crypto market makers Sigma Chain and Merit Peak, entities both said to be
owned by Zhao.
However, Binance in a blog post published on Monday dismissed the allegations, saying that “all user assets on Binance and
Binance affiliate platforms, including Binance.US, are safe and secure.”
Investors are pulling out their funds from Binance following the US securities regulator’s lawsuit against the
top cryptocurrency exchange for alleged multiple
violation of federal securities laws. The Securities and Exchange Commission
(SEC) in a complaint filed on Monday accused Binance of operating illegal exchanges, offering unregistered
crypto asset securities and commingling client funds, among other allegations.
Fund Withdrawal from Binance Tops $1B
According
to a Dune Analytics chart by 21Shares, a crypto investment product
provider, outflow from the trading platform reached about $1.5 billion on Monday (yesterday) with
inflow standing at $783 billion and net flow at $701.8 billion. This is in
sharp contrast to outflow of $285.8 billion a day earlier. However, by Tuesday (today), outflow or withdrawal slowed down to 587.5 million with inflow improving to about $364.8 million
Data firm Nansen in a tweet on Tuesday also disclosed that users have
withdrawn about $1.65 billion in the past 24 hours from Binance via the
Ethereum blockchain. This compares to deposits or inflow of $871.7 million
within the period. In addition, net flow, or the difference between the total amount of money
flowing into and out of the exchange on Ethereum stood at a
negative of $778.6 million.
In particular, Nansen said investors on Binance.US, the crypto exchange’s US arm, withdrew about
$24.5 million compared to an inflow of $11.5 million and a negative net flow of
$12.9 million.
“Over the
past hour, netflow on
Ethereum continues to be negative at $35.7M on Ethereum - $14.8M in and $50.5M
out,” Nasen tweeted.
Binance
faced a similar withdrawal pressure in February when reports emerged that the SEC
plans to sue Paxos, the issuer of Binance USD (BUSD) tokens, over supposed violations of user protection regulations. At the time, Binance saw about
$2.8 billion leave its platform within a 24-hour period, CoinDesk reports.
Crypto
Prices Drop
Meanwhile, SEC in its complaint accused Binance of unregistered offering and sale of its token BNB, stablecoin BUSD, and 10 other tokens: SOL (Solana), ADA
(Cardano), MATIC (Polygon), FIL (Filecoin), ATOM (Cosmos), SAND (Sandbox), MANA (Decentraland),
ALGO (Algorand), AXS (Axie Infinity) and COTI (COTI).
In response to the news, the prices of these tokens have experienced some
price drops, according to data on CoinMarketCap. For instance, the price of BNB currently stands at
about $279.55, down by 7.33% in the last 24 hours. On the other hand, the price
of BUSD only dropped marginally by 0.02% in the last 24 hours to $0.99.
In addition, data on CoinMarketCap shows that the price of the other tokens have slumped between about 5-15% between the said period.
How the prices of some crypto and tokens have changed over the past 24 hours. Source: CoinMarketCap
Meanwhile,
in its complaint before the US district court in Columbia, SEC claimed that
Binance.US provided unregistered profit-generating programmes ‘BNB Vault’ and
‘Simple Earn’ as well as crypto staking products, to US investors. The securities watchdog also accused Binance and CEO/Founder Changpeng Zhao of commingling or
diverting customer assets to crypto market makers Sigma Chain and Merit Peak, entities both said to be
owned by Zhao.
However, Binance in a blog post published on Monday dismissed the allegations, saying that “all user assets on Binance and
Binance affiliate platforms, including Binance.US, are safe and secure.”
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
