Binance’s CEO said on Wednesday that deposits are coming back and “things seem to have stabilized.” This was a day after the exchange saw a sharp rise in withdrawals and stopped some stablecoin transactions.
Nansen, a blockchain data company, said on Tuesday that $1.9 billion had been taken out of Binance in the last 24 hours and that the exchange had “temporarily paused” withdrawals of the USDC stablecoin.
In a tweet, CEO Changpeng Zhao said, “Things seem to have calmed down.” “Yesterday was not the day with the most withdrawals, not even in the top five.”
Nansen data showed that the $1.9 billion in withdrawals of tokens based on the Ethereum blockchain were the most in a single day since June 13.
Users and government officials are very interested in how crypto exchanges like Binance and its now-defunct rival FTX handle customer deposits.