Bloomberg confirmed it today: Binance reopened BTC withdrawals
at 2:00 PM Singapore time and recorded
~$3.5 billion in net outflows within hours, according to DefiLlama.
The $3.75 billion figure circulating is higher than
what Bloomberg reports. And there's a reason: co-CEO
Yi He has already warned that some of those “outflows” are
transfers between wallets belonging to the exchange itself.
In other words: not everyone withdrawing from the exchange is fleeing. But $3.5B in a matter of hours is a real stress test.
The question isn't how much flowed out. It's whether Binance can hold up
without suspending withdrawals a second time. Because when an
exchange suspends withdrawals twice, there is no third time.
#Binance #CryptoCustody $BTC $BNB $KGST
at 2:00 PM Singapore time and recorded
~$3.5 billion in net outflows within hours, according to DefiLlama.
The $3.75 billion figure circulating is higher than
what Bloomberg reports. And there's a reason: co-CEO
Yi He has already warned that some of those “outflows” are
transfers between wallets belonging to the exchange itself.
In other words: not everyone withdrawing from the exchange is fleeing. But $3.5B in a matter of hours is a real stress test.
The question isn't how much flowed out. It's whether Binance can hold up
without suspending withdrawals a second time. Because when an
exchange suspends withdrawals twice, there is no third time.
#Binance #CryptoCustody $BTC $BNB $KGST
