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Following the $4.3 billion fine by the U.S. Department of Justice (DoJ), Binance’s outflow has surpassed the $1 billion mark over the past week. 
According to data provided by DeFi Llama, Binance witnessed a negative net outflow of $1.2 billion in the past seven days. This comes while the largest crypto exchange saw a $462 million outflow in the past 24 hours alone, per the data aggregator.&nbsp; 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="816" height="307" src="https://crypto.news/app/uploads/2023/11/CEX-net-flows-Nov-23.png" alt="Binance outflows reach $1.2b in past 7 days - 34" class="wp-image-14219327">
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 CEX data – Nov. 23 | Source: <a href="https://defillama.com/cexs" target="_blank" rel="noopener">DeFi Llama</a>
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</figure> 
Nansen reported on Nov. 22 that Binance’s <a href="https://crypto.news/nansen-reports-continued-withdrawals-from-binance/">outflows continue</a> while a mass exodus of funds has not yet occurred. 
 You might also like: <a href="https://crypto.news/sec-commissioner-on-spot-bitcoin-etfs-no-reason-to-block/"> SEC Commissioner on spot Bitcoin ETFs: “No reason to block” </a> 
Per DeFi Llama, only Bitstamp saw a higher outflow of funds in the past 24 hours than Binance — reaching a negative net flow of $498.59 million. Huobi comes third, after Binance, with a total outflow of almost $79 million over the past day.&nbsp; 
Moreover, the total amount of Binance’s clean assets — funds excluding the exchange’s own tokens — still stands at over $60 billion, according to the data aggregator.&nbsp; 
Per a crypto.news report on Nov. 22, the new Binance CEO Richard Teng <a href="https://crypto.news/new-binance-ceo-says-company-fundamentals-remain-strong-despite-4-3b-doj-fine/">stated</a> his optimism for managing the current situation at the company. Teng added that the exchange will not face any financial problems despite the $4.3 billion penalty from the U.S. DoJ. 
As per the U.S. Treasury Department, Binance is facing criminal charges for “willfully failing” to <a href="https://crypto.news/binance-willfully-failed-to-report-over-100k-transactions-linked-to-fraud-and-scams-u-s-treasury-says/">report over 100,000 transactions</a> relating to fraudulent activities and scams. 
 Read more: <a href="https://crypto.news/bloomberg-blackrock-and-grayscale-meeting-with-sec-about-bitcoin-etf-issuance/"> BlackRock and Grayscale meeting with SEC about Bitcoin ETF issuance </a>

Binance outflows reach $1.2b in past 7 days

crypto.news

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