{"id":24683,"date":"2023-11-23T07:20:59","date_gmt":"2023-11-23T07:20:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-experiences-limited-impact-from-massive-fines-data-reveals\/"},"modified":"2023-11-23T07:20:59","modified_gmt":"2023-11-23T07:20:59","slug":"binance-experiences-limited-impact-from-massive-fines-data-reveals","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-experiences-limited-impact-from-massive-fines-data-reveals\/","title":{"rendered":"Binance Experiences Limited Impact from Massive Fines, Data Reveals"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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According to recent statistics from market research firm Nansen, Binance is surviving the storm with very few setbacks, even in spite of the startling $4 billion in fines it is facing from US regulators. The biggest cryptocurrency exchange in the world saw outflows of $956 million in Bitcoin (BTC) over the course of a day and $17 million in Ethereum (ETH) in less than an hour.<\/p>\n

Continuous Withdrawals and Holding Value<\/h2>\n

The value of Binance\u2019s overall holdings has actually increased somewhat over the past 12 hours, despite these numbers suggesting a significant shift of cash, according to Nansen\u2019s study. According to the study, there isn\u2019t a significant outflow of cash; withdrawals are nevertheless occurring. Binance has seen a $17 million negative netflow on Ethereum throughout the last hour. Binance has had a $956 million negative netflow on Ethereum throughout the last 24 hours. Over the last twelve hours, the value of all holdings has climbed from $64.6 billion to $65.2 billion.\u201d<\/p>\n

In the past twelve hours, several token holdings on Binance have shown resilience and have experienced positive growth despite the regulatory obstacles. The coins that are increasing in value include Shiba Inu (SHIB), Binance Coin (BNB), Solana (SOL), Chainlink (LINK), and Polygon (MATIC).<\/p>\n

Nansen provides context to the recent outflows, noting that Binance has faced more significant challenges in terms of outflows in the past. Instances such as June 2023 after the U.S. Securities and Exchange Commission (SEC) sued Binance, December 2022 amid insolvency rumors, and the immediate aftermath of FTX were cited as periods when Binance saw higher volumes of outflows and negative netflows.<\/p>\n

Earlier this week, Binance received a substantial $4.3 billion fine from the Department of Justice (DOJ) for alleged violations of U.S. anti-money laundering laws. In response, Changpeng Zhao, Binance\u2019s CEO, announced that he would plead guilty to the charges and step down from his role as CEO<\/a>.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) According to recent statistics from market research firm Nansen, Binance is surviving the storm with very few setbacks, even in spite of the startling $4 billion in fines it is facing from US regulators. The biggest cryptocurrency exchange in the world saw outflows of $956 million […]<\/p>\n","protected":false},"author":5,"featured_media":24684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24683"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24683"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24684"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}