The CEO of the cryptocurrency exchange Binance, Changpeng Zhao, recently commented on the current situation surrounding the SEC lawsuit and the massive outflow of funds from the cryptocurrency exchange.
Changpeng Zhao comments on the current situation
Last week brought interesting changes to the cryptocurrency world, with data showing a significant outflow of digital assets from centralized exchanges. An analysis by Nansen has seen significant outflows from Binance and Binance.US over the past seven days. However, Binance CEO Changpeng Zhao is not worried about this trend.
There was a net outflow of $2.36 billion from the Binance exchange and $123.7 million from Binance.US over the past week, according to data recorded by analyst firm Nansen. However, the CEO of the crypto exchange, Changpeng Zhao, in his post on the social network Twitter on June 10, pointed out the potential distortion of this data. Zhao said some firms may misinterpret changes in assets under management as “low tide”, which may include periods when prices cryptocurrency will decrease.
Changpeng Zhao also pointed out in his statement that the outflow from Binance in the last 24 hours as of June 9 was only about $392 million. This figure is significantly lower than the one-day outflow of US$7 billion that Binance saw last November during the bankruptcy period FTX cryptocurrency exchange.
It seems that despite significant outflows from BinanceZhao remains optimistic about the future of her company and the overall cryptocurrency market.
At the time of writing, the price of BTC is around 25,806 USD according to KMC.
Conclusion
What do you think about the current situation? What is your favorite crypto exchange? Let us know in the comments or on our social media. You can find the complete data of the Nansen company under the attached link HERE. [1] Feel free to join ours too KRYPTOMAGAZIN CZ official Discord server.
2023-06-14 16:00:24
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