A post by @cz_binance on X.
12 hours after withdrawals resumed: 2.1% net outflow, with most occurring in the first couple of hou…
@cz_binance on X
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Binance CEO Changpeng Zhao (CZ) said withdrawals resumed 12 hours ago with a net outflow of 2.1%, most of it occurring in the first couple of hours, and over $1 billion in total flow. The statement follows a period when Binance paused withdrawals, and CZ framed the modest net outflow as evidence of user trust, saying trust is earned by what a company does in hard times. The $1 billion+ in flows and 2.1% net outflow suggest the exchange absorbed heavy redemption pressure without halting operations, a key signal for an industry still sensitive to exchange solvency concerns after FTX's collapse. Watch for whether outflows continue to taper, whether Binance publishes proof-of-reserves updates, and any regulatory developments affecting the exchange.
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Named in this story
Binance, Changpeng Zhao