Binance faces massive outflows and legal troubles as investors lose faith.
TL;DR Summary
Investors have withdrawn $1.6 billion of cryptocurrency from Binance since the US Commodity Futures Trading Commission (CFTC) sued the exchange, its CEO, and former top compliance executive, alleging that they were operating an "illegal" exchange and a "sham" compliance program. The outflows were higher than usual, but still not as high as Dec. 13, when investors pulled $3 billion from Binance as they grew nervous about the status of Binance's reserves.
- Investors pull $1.6 billion from Binance after CFTC lawsuit Reuters
- Binance Sees $2 Billion in Outflows as Troubles Compound The Wall Street Journal
- DOJ alleges SBF paid $40M in bribe to China, and Binance responds to CFTC suit: CNBC Crypto World CNBC Television
- US agency sues top crypto exchange Binance and CEO, seeks permanent trading bans Ars Technica
- Binance Crackdown Reveals How Rigged The Crypto Game Is Defector
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