Satoshi

2024

Billion

Binance, the world’s leading digital asset exchange, has exhibited resilience and growth following its recent settlement with the US regulatory bodies. The settlement, which addressed allegations of money laundering and sanctions evasion, marked a pivotal moment for Binance. 
Since November 21, when the settlement was reached, Binance has <a href="https://x.com/esatoshiclub/status/1747952224251117732?s=20" target="_blank" rel="noopener nofollow">experienced</a> a surge in net inflows, amounting to roughly $4.6 billion. This data, revealed in a post by Satoshi Club on X, shows the platform’s resilience amid these challenges. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Despite recent legal challenges and leadership changes, <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@binance</a> has seen net inflows of $4.6 billion since its November settlement with US agencies. 
 In January alone, it attracted $3.5 billion, marking its strongest month since November 2022. pic.twitter.com/hMZZB3kK3U 
 — Satoshi Club (@esatoshiclub) <a href="https://twitter.com/esatoshiclub/status/1747952224251117732?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">January 18, 2024</a>
</blockquote> 
<h2 id="binance-inflow-resurgence-post-settlement">Binance Inflow Resurgence Post-Settlement</h2> 
January 2023 emerged as a particularly prosperous month for Binance, witnessing net inflows of $3.5 billion. This figure surpasses any full month’s inflow since November 2022 and signifies a substantial rebound from the exchange’s myriad challenges towards the end of last year. 
These challenges were not insignificant; they included notable fines imposed by a US court on Binance and its CEO, Changpeng Zhao (CZ), for <a href="https://bitcoinist.com/binance-cz-grapple-with-massive-2-7-billion-fine/" target="_blank" rel="noopener ">charges related to alleged money laundering operations</a> initiated by the US Commodity Futures Trading Commission (CFTC). 
To put into perspective how much Binance has recovered following a tumultuous period last year: After <a href="https://bitcoinist.com/binance-ceo-to-step-down-4-billion-settlement/" target="_blank" rel="noopener ">former CEO Changpeng Zhao stepped down</a> and the exchange agreed to a substantial $4 billion fine with US regulators, the exchange experienced a <a href="https://bitcoinist.com/binance-see-ftx-level-outflows/" target="_blank" rel="noopener ">significant outflow of over $1 billion</a> in a single day. 
Subsequently, weekly inflows struggled to exceed $800 million, culminating in a net outflow of $-1.63 billion in November, according to data from DeFillama. 
<img loading="lazy" decoding="async" class="wp-image-275732 size-large" src="https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?resize=980%2C459" alt="Binance Monthly inflow." width="980" height="459" srcset="https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=1620 1620w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot-2024-01-19-at-17.53.15.png?w=1140 1140w" sizes="(max-width: 980px) 100vw, 980px" data-recalc-dims="1"> 
However, a turnaround began in December, and the exchange’s weekly inflows consistently surpassed $1 billion weekly, totaling over $3 billion monthly. This upward trend has continued into the current month, with inflows nearing $4 billion, signaling a robust recovery for the leading crypto exchange. 
<h2 id="global-expansion-and-bnb-s-resilience">Global Expansion And BNB’s Resilience</h2> 
Despite Binance’s hurdles last year, the exchange has continued to make its presence known. The exchange has recently <a href="https://bitcoinist.com/binance-expands-launch-of-thailand-exchange/" target="_blank" rel="noopener ">extended its global footprint by launching Gulf Binance in Thailand</a>, a joint venture with Gulf Innova. This move aims to cater to the Thai market by offering a platform for trading digital assets with local currency pairs. 
The exchange’s native token, BNB, has also demonstrated resilience. After a dip below $230 in November, BNB has steadily climbed, trading above $300 at the time of writing. This upward trajectory of BNB, with its trading volume exceeding $1 billion, mirrors the exchange’s recovery and growth trajectory. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/EiCpY6IR/" alt="BNB price chart on TradingView amid Binance news" width="2770" height="1556"> 
Furthermore, Binance continues to lead the <a href="https://bitcoinist.com/binance-predicts-7-influential-events-bitcoin/" target="_blank" rel="noopener ">crypto exchange market</a>, as evidenced by data from Coinmarketcap. With a 24-hour trading volume surpassing $14 billion, Binance comfortably outperforms rivals such as Coinbase and Kraken, which recorded $2.7 billion and $999 million in trading volume in the past day. 
Featured image from Unsplash, Chart from TradingView

Binance Bounces Back: Over $4 Billion Inflow Recorded Post-Settlement

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