Binance CEO CZ responds as data points to billions in exchange outflows

While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears. 

Leading analytics platforms such as Nansen and DefiLlama have all measured increased exchange outflows from Binance over the past seven days after news of the Securities and Exchange Commission’s

Since the SEC’s lawsuits against Binance and Coinbase on June 5 and 6, the total crypto market capitalization has declined by 7%, or more than $80 billion, according to CoinGecko.

On June 9, Cointelegraph reported that decentralized finance volumes surged more than 400% following the twin lawsuits targeting thecentralized exchanges.

Magazine: Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10