Crypto markets showed little indication of letting up on Tuesday after the U.S. Securities and Exchange Commission (SEC) sued crypto exchange Binance and its founder Changpeng “CZ” Zhao on claims of breaching federal securities laws.
According to Nansen.ai data, outflows from Binance across all protocols totaled $719 million in a 24-hour period. Despite what appears to be a staggering net outflow that shows no signs of abating, Nansen data shows that Binance’s stablecoin balance remains healthy.
The exchange now has a stablecoin balance of slightly more than $8 billion, with a seven-day outflow of $519 million, or roughly 6% of holdings.