By Elizabeth Howcroft
LONDON, March 29 (Reuters) - Investors withdrew $1.6
billion of cryptocurrency from crypto exchange Binance since it
was sued by the U.S. CFTC on Monday, blockchain data tracker
Nansen said on Wednesday.
The U.S. Commodity Futures Trading Commission (CFTC) sued
Binance - the world's biggest crypto exchange - along with its
CEO and former top compliance executive, alleging that they were
operating an "illegal" exchange and a "sham" compliance program.
Since the lawsuit, Binance has seen $1.6 billion of overall
withdrawals and $852 million in the last 24 hours, Nansen said,
in a step up from the average of $385 million per day over the
last two weeks.
Martin Lee, research analyst at Nansen, said that the
outflows were higher than usual, but still not as high as Dec.
13, when investors pulled $3 billion from Binance as they grew
nervous about the status of Binance's reserves.
(Reporting by Elizabeth Howcroft, Editing by Louise Heavens)
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