Binance

Changpeng Zhao, CEO of Binance, tweeted on Tuesday that the exchange is seeing an increase in withdrawals of USDC.

[critics](https://www.wsj.com/articles/binance-is-trying-to-calm-investors-but-its-finances-remain-a-mystery-11670679351) have said that the proof of reserves have not gone far enough to give assurances of Binance's collateral. Reuters, citing four people familiar with the matter, reported that the investigation is focused on Binance's compliance with anti-money laundering laws. Department of Justice prosecutors are delaying the conclusion of a criminal investigation into Binance. Zhao said that any transfers into USDC from the stablecoin known as PAX, as well as Binance's own token BUSD, require routing through a bank based in New York which is not yet open. USDC is used by investors to trade in and out of different cryptocurrencies without the need to move money back into U.S. Binance has more than $60 billion of assets on its platform, Nansen said. [Reuters](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) that U.S. That means it has enough assets to cover customer deposits. If traders are withdrawing USDC from Binance, it could be to move it onto another platform. There is no indication of any such trouble for Binance. - Binance, the world's largest cryptocurrency exchange, paused withdrawals of the stablecoin USDC on Tuesday while it carried out a "token swap." Changpeng Zhao, CEO of Binance, tweeted that the exchange is seeing an increase in withdrawals of USDC, a cryptocurrency known as a stablecoin because it is pegged one-to-one with the

Binance Holdings Ltd., the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations ...

[Nansen](https://pro.nansen.ai/exchange-flows/exchanges) as of 9:20 a.m. [Binance Holdings Ltd.](/quote/1624796D:CH), the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations that rival FTX may have misused customer funds before its November implosion. Net outflows of digital tokens from Binance amounted to about $3.7 billion in the past week, including almost $2 billion in the last 24 hours, according to data from research firm

LONDON — Binance, the world's biggest crypto exchange, saw withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on Tuesday, ...

“The banks are not open for another few hours. Splits between U.S. anti-money laundering laws and sanctions, Reuters reported on Monday. The report showed its holdings of bitcoin exceeded customer deposits on a single day in November. The exchange is already under pressure from authorities. Article content

Binance Co-Founder and CEO Changpeng Zhao delivers a speech at the opening event of. Crypto exchange Binance has paused withdrawals of the key stablecoin USDC, ...

The report said Binance processed [over $10 billion worth of illegal payments](https://markets.businessinsider.com/news/currencies/crypto-binance-reportedly-processed-over-10b-in-illegal-payments-2022-2022-12?utm_medium=ingest&utm_source=markets) in 2022. The now-bankrupt crypto exchange collapsed after facing a liquidity squeeze, and over 1 million customers may have lost money, according to NPR. "The banks are not open for another few hours," he said. [top accountants](https://www.wsj.com/articles/binance-is-trying-to-calm-investors-but-its-finances-remain-a-mystery-11670679351) and [legal experts](https://twitter.com/JohnReedStark/status/1601760070806560768) slammed a proof of reserves report published last week, where Binance claimed its [bitcoin](https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&utm_source=markets) holdings were overcollateralized – which would mean it held more than enough of the token to cover its losses in case of a default. [Paxos Standard](https://coinmarketcap.com/currencies/paxos-standard/) and [Binance USD](https://coinmarketcap.com/currencies/binance-usd/) stablecoins for USDC, so that it has sufficient holdings of the token for withdrawals to continue, Zhao added. [USD Coin](https://coinmarketcap.com/currencies/usd-coin/) while it conducts a "token swap" to boost its holdings of the dollar-pegged token, CEO Changpeng Zhao said Tuesday.

(Bloomberg) -- Binance Holdings Ltd., the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens ...

The comparable figure in the last week of October was about seven times. Binance has cemented its position as the biggest crypto exchange in the wreckage of FTX’s Nov. Zhao — also known as CZ — has been trying to restore confidence in the industry. Its daily average trading volume in the first week of December was over eight times greater that of runner-up Coinbase Global Inc.. Binance temporarily halted withdrawals of stablecoin USDC on Tuesday because it couldn’t process those transactions until its banks in the US opened, Zhao said in a tweet. The slide has been pockmarked with a series of blowups of which FTX, once valued at $32 billion, was perhaps the most damaging. Last week, the exchange released a proof of reserves report. In a tweet on Tuesday, he said Binance has had about $1.14 billion of net withdrawals “today.” It wasn’t clear if he was referring to a 24-hour period. One part of that is an effort to reassure about its reserves. The fallen mogul’s empire blew up amid allegations that customer funds were mishandled, leaving potentially over a million creditors and eroding trust in the industry. Binance’s native token Binance Coin fell as much as 7.1% on Tuesday before erasing losses and trading 1.2% higher at 3 p.m in London. The one-day number was nearly 18 times higher than the next largest outflow, which was from Bitfinex.

The withdrawals come as Binance said it had 'temporarily paused' withdrawals of the USDC stablecoin.

We expect the situation will be restored when the banks open.” Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation focused on Binance’s compliance with U.S. “The banks are not open for another few hours. The report showed its holdings of bitcoin exceeded customer deposits on a single day in November. Some days we have net withdrawals; some days we have net deposits.” Scrutiny of how crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits is under close scrutiny from users and regulators.

The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.

Binance, the world's biggest crypto exchange, saw withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on Tuesday, ...

We expect the situation will be restored when the banks open." Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation focused on Binance's compliance with U.S. "The banks are not open for another few hours. The report showed its holdings of bitcoin exceeded customer deposits on a single day in November. User assets at Binance are all backed 1:1 and Binance’s capital structure is debt free." This is business as usual."

The world's largest cryptocurrency exchange by trading volume saw withdrawals jump at the start of the week. Traders are on edge following a series of ...

The company operates in a way to "ensure that we always have more than enough funds to fulfill withdrawal requests," he said.\n\nChangpeng Zhao, Binance’s chief executive, said on Twitter that the exchange has seen an increase in withdrawals of USDC, a so-called stablecoin whose value is pegged to the dollar. That was less than the $2.3 billion pulled in the week that followed FTX's implosion.\n\n"People deposit and withdraw assets everyday for a variety of different reasons," said a Binance spokesman. Concerns over Binance have amplified following its recent release of a narrow “proof of reserve report” that left investors with questions about the state of its finances.\n\nNet outflows, the difference between the value of assets arriving and leaving the exchange, totaled $1.6 billion over the prior 24 hours as of about 1:30 a.m.

Binance, the world's largest cryptocurrency exchange, said Tuesday it is pausing withdrawals of the stablecoin USDC while it completes a token swap ...

[experienced](https://twitter.com/nansen_ai/status/1602673823651864577) the highest daily amount of withdrawals since June. Former SEC regulator John Stark [told Decrypt](https://decrypt.co/116958/former-sec-regulator-binances-proof-reserves-audit-how-i-define-red-flag) that Binance’s report failed to address internal financial controls and lacked an “assurance conclusion.” Nansen analyst Andrew Thurman [tweeted](https://twitter.com/Blockanalia/status/1602337143048781826) that Jump Trading, one of the largest crypto market makers, was among the biggest redeemers. Concern about Binance have also grown in recent weeks. [added](https://twitter.com/cz_binance/status/1602579499903852544) in a Twitter post: “On USDC, we have seen an increase in withdrawals. The banks are not open for another few hours.

C'est ce qu'a indiqué la plateforme ce mardi, laissant entendre à ses clients que la situation allait être rétablie au plus vite.

Par ailleurs, certains experts mettent en doute la [publication de la preuve de réserves de Binance](/economie/replay-emissions/bfm-crypto-le-club/binance-montre-les-muscles-et-rassure-en-publiant-une-preuve-de-reserve_VN-202212080534.html), critiquant la portée limitée d'un tel rapport qui ne correspond pas à un audit classique. "Pour échanger des PAX/BUSD en USDC, il faut passer par une banque à New York en USD. La plateforme d'échanges a annoncé ce mardi matin sur Twitter la suspension des retraits pour le stablecoin USDC.

Binance connait une impressionnante fuite de capitaux : les membres de la plateforme ont retiré l'équivalent de 900 millions de dollars en 24 heures.

[bear market](https://www.numerama.com/tech/1004568-qu-est-ce-que-bear-market-definition.html) » violent et des faillites impressionnantes d’entreprises jugées comme très fiables. Une enquête pour blanchiment d’argent est en cours aux États-Unis contre la plateforme, et selon les sources de Reuters, certains procureurs américains seraient prêts à engager des poursuites contre les dirigeants de Binance, dont [son fondateur et président Changpeng Zhao](https://www.numerama.com/tech/1055974-changpeng-zhao-le-globe-trotter-milliardaire-de-la-crypto.html). [L’audit, réalisé par Mazars](https://veritas.mazars.com/binance/Binance_POR_Report_7_December_2022.pdf), a été publié le 7 décembre et donne plutôt raison à Binance — mais certains doutes subsistent. Pendant plusieurs heures, il n’était plus possible de faire des retraits en USDC, un [stablecoin](https://www.numerama.com/tech/732951-stablecoins-que-sont-ces-cryptos-stables-de-plus-en-plus-populaires-mais-controversees.html). Le média indique que les sorties de capitaux de Binance ont surpassé toutes les autres dans le secteur des [crypto-monnaies](https://www.numerama.com/business/272280-bitcoin-ethereum-litecoin-quest-ce-quune-crypto-monnaie.html) au cours des dernières 24 heures — par ailleurs, la somme est près de 9 fois supérieure aux autres sorties de capitaux comparables. Pour l’instant, Binance assure qu’aucun problème n’existe avec les retraits et qu’il n’y a pas de souci de liquidité. Mais, alors que les difficultés s’accumulent, si les retraits se poursuivent, cette fuite de capitaux pourrait devenir un véritable problème pour Binance. C’est cette fuite qui a été observée par CoinDesk, et qui est pour l’instant équivalent à près d’un milliard de dollars. Changpeng Zhao, le dirigeant de Binance, [avait indiqué](https://twitter.com/cz_binance/status/1602579499903852544) qu’il fallait attendre la réouverture des banques pour que la situation soit rétablie. [désigne la fourniture d’une garantie](https://www.crypto-sous.fr/overcollateralization-surcollateralisation/) dont la valeur est plus que suffisante pour couvrir les pertes potentielles en cas de défaut. Après la faillite de la plateforme rivale FTX, Binance s’était engagée à publier des preuves de ses fonds, « surcollatéralisés » selon l’entreprise. Les retraits sur Binance ont augmenté après des rapports « préoccupants » sur l’état de santé financière de l’entreprise, selon CoinDesk.

Investors have pulled more than $1bn from Binance as the world's largest cryptocurrency exchange fights against a crisis of confidence in digital tokens and ...

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La Bourse de cryptomonnaies Binance a annoncé mardi avoir suspendu les retraits en USDC, une cryptomonnaie dite stable ou « stablecoin », dont la valeur est ...

« Nous prévoyons que la situation soit rétablie lorsque les banques ouvriront. Le patron de Binance a assuré que les retraits dans les autres « stablecoins » n’étaient pas affectés. « Par conséquent, les retraits en USDC sont temporairement suspendus », a ajouté l’entreprise.

Selon les données de Nansen, 902 millions de dollars ont été retirés de sa plateforme par les utilisateurs ce qui crée de l'inquiétude dans la communauté crypto ...

Nansen évalue les retraits nets liés à Jump trading à 146 millions de dollars sur les sept derniers jours. D’après les informations de la plateforme de renseignement blockchain Nansen, les sorties nettes sur Binance ont atteint 902 millions de dollars durant les dernières 24 heures. Les critiques pointent du doigt l’étroitesse de l’étude menée par le cabinet. Comparé à la deuxième plus grande sortie enregistrée, Binance est en tête avec un chiffre près de neuf fois plus élevé. Un analyste d’Arkham a essayé de minimiser cet événement en disant que ce n’était pas particulièrement anormal. Sur les 24 dernières heures, Binance, la plateforme numéro un en ce qui concerne le volume des transactions des crypto-monnaies, a subit une vague de retrait massifs.

The world's biggest crypto exchange said it had 'temporarily paused' withdrawals as CEO said it was 'business as usual'.

Some days we have net withdrawals; some days we have net deposits. Some days we have net withdrawals; some days we have net deposits.” We expect the situation will be restored when the banks open.” “The banks are not open for another few hours. We have seen this before. [FTX founder Sam Bankman-Fried was charged](/economy/2022/12/13/us-charges-ftxs-bankman-fried-with-fraud) by the US Securities and Exchange Commission on Tuesday with defrauding investors.

(Bloomberg) -- Binance Holdings Ltd., the world's largest crypto exchange, sought to counter concerns about outflows by reiterating its position that user ...

“We are working on getting the next update for additional tokens published as soon as possible.” The report also acknowledged limitations, as it didn’t amount to a full financial audit that would give a clearer picture of Binance’s overall health. The document, based on a snapshot review by accounting firm Mazars, showed the exchange having sufficient crypto assets to balance its total platform liabilities. Hot wallets are digital repositories for tokens that are connected to the internet. Over the past seven days, there was a net outflow of $1.2 billion. Binance has at least $60 billion in on-chain reserves, according to data from the blockchain analytics firm Nansen.

Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as the world's largest cryptocurrency ...

“If you get hurt by one bank, you’re going to think all the other banks are bad,” Zhao said. “In short, it’s a lot of money headed out, and that’s spooked some folks.” Bitcoin was last trading below $18,000, a decline of more than 60% year-to-date. Separately, US markets regulators also charged Bankman-Fried with defrauding investors and customers. A report about an [ongoing investigation](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) by the US Justice Department into the exchange was a factor in investors’ nervousness, he said.

The $1.9 billion of withdrawals of tokens based on the ethereum blockchain marked the largest daily outflow over a 24-hour period since June 13, the Nansen data ...

Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation focused on Binance's compliance with U.S. "User assets at Binance are all backed 1:1 and Binance's capital structure is debt free," a spokesperson said. Binance did not immediately respond to a request for comment. "Things seem to have stabilised," CEO Changpeng Zhao tweeted. Users had pulled out $3.7 billion in crypto over the seven days to Tuesday, it later added. Register for free to Reuters and know the full story