Lawsuits filed by the U.S. SEC against Binance.US, Binance and Coinbase have triggered a substantial withdrawal of approximate deposits totaling $4 billion from these prominent cryptocurrency exchanges, as indicated by blockchain data. According to Glassnode and Nansen data, the three exchanges collectively experienced net withdrawals of $864 million in Bitcoin and $3.1 billion through Ethereum last week. The withdrawals were swiftly and neatly processed by the exchanges throughout the week.
The SEC initiated legal action against Binance, its CEO Changpeng CZ Zhao and its U.S.-based subsidiary Binance.US last week, citing various violations of federal securities laws. Subsequently, the…
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