Binance loses $500 million in bitcoin every day

According to the Coinglass analytical platform, on Tuesday, December 13, the bitcoin balance on the world’s largest crypto exchange Binance dropped to 30,000 BTC ($515 million). Over the past week, $40,150 BTC has been withdrawn from the site.

The first massive operations to withdraw bitcoins from the platform were noticed as soon as information appeared that the US Department of Justice was investigating money laundering through Binance. Then users reacted very negatively to the information that the founder of Tron, Justin Sun, withdrew and returned $ 100 million in cryptocurrency to the platform. The exchange’s clients began to withdraw bitcoins even more actively.

Binance CEO Changpeng Zhao was outraged, calling the negative news manipulation causing fear of investors (FUD):

“FUD helps us grow even though it is very annoying. It helps unite supporters, because it forms a defense alliance.”

Today, on December 13, Binance suspended the withdrawal of USDC stablecoins. The management of the exchange advised clients to use other stablecoins or wait until New York banks open, through which the crypto exchange converts cryptocurrency.