Cryptocurrency

FTX Token

United

Bitcoin

<div class="finbold">
 <p class="paragraph">Cryptocurrency investors withdrew close to $1.23 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> <a rel="noopener noreferrer nofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> in one day from the leading centralized exchange (CEX), Binance.</p>
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 <p class="paragraph">The massive outflow followed news about Binance’s and Changpeng Zhao’s (CZ) settlement with the Department of Justice (DOJ) of the United States. As part of the agreement, Binance will pay a $4.32 billion fine, and CZ, Binance’s former CEO, has now left its role in the company.</p>
 <p class="paragraph">Notably, the exchange has the largest cryptocurrency reserves, currently holding $67.65 billion worth of crypto, of which $59.51 billion are “Clean Assets.” Finbold retrieved this data on November 22 from <em>DefiLlama</em>, which describes “Clean Assets” as all cryptocurrencies not issued by Binance itself.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="386" src="https://cdn.thebittimes.com/images/2023/11/22/87acc2f90e11c0dc3a6dd13df2c5787a.webp" alt="CEX Transparency - Binance assets and inflows." class="wp-image-138872" srcset="https://cdn.thebittimes.com/images/2023/11/22/87acc2f90e11c0dc3a6dd13df2c5787a.webp 1024w, https://cdn.thebittimes.com/images/2023/11/22/87acc2f90e11c0dc3a6dd13df2c5787a.webp 300w, https://cdn.thebittimes.com/images/2023/11/22/87acc2f90e11c0dc3a6dd13df2c5787a.webp 768w, https://cdn.thebittimes.com/images/2023/11/22/87acc2f90e11c0dc3a6dd13df2c5787a.webp 1094w" sizes="(max-width: 1024px) 100vw, 1024px">
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   CEX Transparency – Binance assets and inflows. Source: <em>DefiLlama</em>
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 <p class="paragraph">Interestingly, the 24-hour outflow of $1.229 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> is 32% lower than the first payment of $1.81 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> to the DOJ, which must happen within the following 15 months.</p>
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 <p class="paragraph">It is also notable that OKX, the second-largest centralized exchange by assets under custody, registered a 24-hour inflow of $98.83 million. However, Bitfinex lost $20.16 million of its $9.09 billion clean assets in the third position. OKX currently holds $12.03 billion in assets.</p>
 <h2 class="wp-block-heading" id="h-binance-reserves-btc-eth-and-bnb">Binance reserves: BTC, ETH, and BNB</h2>
 <p class="paragraph">As of November 1, Binance was reportedly holding 609,310.54 BTC ($22.24 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>), out of which 584,659.077 BTC belonged to its customers. Essentially, the exchange self-audited its Bitcoin (BTC) reserves at Bitcoin’s block height of 814748.</p>
 <p class="paragraph">Moreover, Binance’s registered Ethereum (ETH) total holdings were 4,119,859 ETH ($8.24 billion), out of which 3.91 million ETH came from its customers. Meanwhile, the centralized exchange holds 34.78 million of its native token, BNB Chain (BNB).</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="436" src="https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp" alt="Binance crypto reserves" class="wp-image-138873" srcset="https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp 1024w, https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp 300w, https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp 768w, https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp 1536w, https://cdn.thebittimes.com/images/2023/11/22/f9567d2532c174d9e2e29bac21bf554c.webp 1828w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Binance crypto reserves. Source: <em>Binance</em>
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 <p class="paragraph">However, recent events might drastically change Binance’s crypto holdings. The changes will be visible in the next Proof of Reserves by the leading CEX and are set to happen by December 1.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/1-2-billion-worth-of-crypto-left-binance-in-the-last-24-hours-tbt71241.html">https://thebittimes.com/1-2-billion-worth-of-crypto-left-binance-in-the-last-24-hours-tbt71241.html</a></p>

$1.2 billion worth of crypto left Binance in the last 24 hours

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