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The post <a href="https://coinpedia.org/press-release/binance-sees-1-7-billion-outflow-where-are-investors-putting-their-funds/" rel="noopener noreferrer nofollow">Binance Exchange Sees $1.7 Billion Outflow Since CZ’s Resignation. Where Are Investors Putting Their Funds Instead?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=coinpedia&amp;utm_content=14" rel="noopener noreferrer nofollow"></a>Binance is facing a cosmic shakeup. Within a 24-hour window, from November 21 to 22, over a billion dollars made a quick exit from Binance, and it got the crypto community buzzing. What’s behind this dramatic move? Binance’s founder and CEO, Changpeng Zhao (CZ), stepped down and even had a tête-à-tête with the Department of Justice. The result? A whopping $1.7 billion outflow of customer funds, as many people apparently feel they can no longer trust the exchange. The question now is, where can these investors be putting their money instead? Let’s take a closer look in this article, as investors seek out a good crypto to buy during these uncertain times.
<h2 class="wp-block-heading" id="h-binance-s-future-after-cz-s-departure">Binance’s Future After CZ’s Departure</h2>
As the curtains rise, we find ourselves in a post-CZ era. The maestro himself stepped down, and not just that – there’s been a plea deal with the Department of Justice. The result? More than a billion dollars taking a detour away from Binance between November 21 and 22. Liquidity is feeling the squeeze, too, dropping 25% as market makers reevaluate their positions. It’s reminiscent of past seismic shifts when Binance faced securities charges from the SEC.
Binance’s native token, $BNB, took an 8% hit within the same period. That’s a significant dip, considering Binance holds at least $2.8 billion worth of $BNB tokens. And remember March? Binance waved goodbye to zero-fee trading of crypto asset pairs, which include the best crypto to buy right now Reddit, and Bitcoin. A crucial incentive for users, and the exchange felt the ripple effect with its share of spot trading dropping.
Yet despite <a href="https://www.cnbc.com/2023/11/21/binance-ceo-changpeng-zhao-to-plead-guilty-to-federal-charges-step-down.html" target="_blank" rel="noopener noreferrer nofollow">agreeing to pay a whopping $4.3 billion in fines</a> to Uncle Sam, the exchange is standing tall. Assets over $65 billion remain, suggesting Binance might weather this cosmic storm, after all. Withdrawals are on the rise, but it’s not a full-scale “mass exodus” – at least not yet.
Now, let’s shift gears and explore where investors are redirecting their funds instead.
<h2 class="wp-block-heading" id="h-galaxy-fox-a-playground-for-crypto-enthusiasts">Galaxy Fox: A Playground for Crypto Enthusiasts</h2>
Enter <a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=coinpedia&amp;utm_content=14" target="_blank" rel="noopener noreferrer nofollow">Galaxy Fox</a> – not just a good crypto to buy, but a whole playground of possibilities. At its core, this project offers a play-to-earn (P2E) Web3 game, dishing out $GFOX tokens to gamers. It’s not about passively holding; it’s about diving headfirst into a vibrant ecosystem. And guess what? They’re throwing in 3,000 of the coolest NFT collectibles during the token presale.
Here’s the twist – Galaxy Fox has a slick token burn mechanism. It’s like magic, pulling $GFOX tokens out of the game with every transaction, potentially making the remaining ones more valuable. With a cap of 5 billion tokens and a juicy 70% up for grabs in the public sale, the scarcity factor might just launch $GFOX prices into orbit.
Digging into the numbers game, 10% of the tokens are kept aside for prizes and competitions, enlivening up community engagement. Another 10% fuels the Galaxy Fox ecosystem, ensuring it’s not a fleeting phenomenon. The last 10%? A fair split among team tokens and extra prizes, proving they’re in it for the long haul.
But that’s not all – a 6% tax on buys and sales keeps the Galaxy Fox dance floor alive. It goes like this: 2% to the staking pool, 2% to the general fund, and 2% to the liquidity pool. It’s not just about passive income for investors; it’s about maintaining a top-notch Galaxy Fox ecosystem.
And the presale is sizzling! Galaxy Fox has reached its first significant milestone of $100K, then immediately blew past $200K a few days later. With 10 stages to strut through, early crypto investors could be eyeing a hot 5.5x return on their investment by launch – a jaw-dropping 450% ROI, provided all goes well. At an initial stage price of $0.00066, it’s no wonder folks are catching a glimpse of this opportunity before the expected 33% price jump. This may be one of the projects that investors who pulled out of Binance are eyeing now or have already invested in.
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 <figure class="aligncenter is-resized"><a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=coinpedia&amp;utm_content=14" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" src="https://lh7-us.googleusercontent.com/Ihrl6LdYkJ9vg_Um2YYcR2Drs7avittW6smmIfVcsmMwy9Ib0HWimpzG2s9Fz-E8tHTq1bqTCJEXgwXMfU7V91pRV4I-itfetnvRsh6FNVgPeyYyeKstYZADEO6or21thfLbeVOqOWsFOAACMuFavhE" alt="" style="width: 100%;height:auto"></a>
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<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=coinpedia&amp;utm_content=14" rel="noopener noreferrer nofollow"></a>Final Thoughts
If you’re looking for a good crypto to buy and an exciting investment opportunity amidst the changing landscape of cryptocurrency, <a href="https://coinpedia.org/press-release/upcoming-meme-coin-set-to-eclipse-ethereum-and-cardano/" target="_blank" rel="noopener noreferrer nofollow">Galaxy Fox</a> offers a thrilling proposition. Join the growing Twitter community rallying behind it and become a part of this extraordinary journey. Visit the Galaxy Fox website to learn more and secure your place in this vibrant and dynamic ecosystem.
Learn more about $GFOX here:
<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=coinpedia&amp;utm_content=14" target="_blank" rel="noopener noreferrer nofollow">Galaxy Fox Presale</a> | <a href="https://t.me/galaxyfoxtoken" target="_blank" rel="noopener noreferrer nofollow">The Community</a>

Binance Exchange Sees $1.7 Billion Outflow Since CZ’s Resignation. Where Are Investors Putting Their Funds Instead?

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