Binance & Coinbase Witness $600Mn In Net Outflows As Investors Lose Trust

Crypto News: In a significant turn of events for the crypto market, two major players, Binance and Coinbase, are grappling with the repercussions of the recent lawsuits filed by the Securities and Exchange Commission (SEC). The legal action has sent shockwaves through the industry, leading to substantial negative net outflows for both exchanges. Blockchain data from Nansen reveals that within the first 24 hours since the lawsuit’s announcement, Binance and Coinbase collectively witnessed close to $600 million in negative net outflows.