Binance saw an increase in withdrawals after the Commodities Futures Trading Commission sued for allegedly violating federal law and not registering in the United States.
Since the lawsuit was announced, $169 million has been withdrawn from the exchange. Compared to just $46 million in deposits, a net outflow of $123 million.
Crypto data provider Nansen shows that Binance holds $63.7 billion worth of cryptocurrencies. The information is based on a list of wallets made public by the company. to show transparency in holdings
The lawsuit alleges that Binance continues to serve customers in the United States. Although it has publicly confirmed that it is not available to customers in the United States. It alleges that Binance executives replaced information referring to U.S. customers with the word “UNKWN,” which stands for unknown.
refer : LINK
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