CZ Addresses Reports of Billions in Binance Outflows

Following the SEC lawsuit against Binance, data analytics platforms have reported significant outflows from the exchange. Nansen noted a net outflow of $2.36 billion from Binance and $123.7 million from Binance.US in the past week, while DeFiLlama reported $3.35 billion in outflows. However, Binance CEO Changpeng Zhao argues this data can be misleading as some analytics count declines in asset prices as outflows. Zhao maintains the actual outflow on June 9 was around $392 million, much less compared to previous high-outflow events. He added that large inflows and outflows are normal during volatile periods.