The reserves display the asset backing, and strength, of Binance which may cushion outflows from the exchange as some fear an FTX repeat. Binance has, as of Wednesday, seen over $600 million in customer token outflows, although the figure is still relatively lower than when BUSD-issued Paxos was slapped by a U.S. Securities and Exchange Commission lawsuit earlier this year. Binance processed over $2 billion in withdrawals in a single day at the time.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
• Source: https://www.coindesk.com/markets/2023/03/29/binances-on-chain-balance-stands-at-64b-nansen-data-shows/?utm_medium=referral&utm_source=rss&utm_campaign=headlines