Customers have withdrawn nearly $2 billion U.S. from the Binance cryptocurrency exchange in the past 24 hours, according to the company.
Binance said it registered $1.9 billion U.S. of withdrawals between December 13 and 14, after the world’s largest crypto exchange said it had “temporarily paused” withdrawals of the USDC stablecoin.
The withdrawals from Binance also come after FTX founder Sam Bankman-Fried was arrested and charged by U.S. authorities with fraud related to the collapse of his rival crypto exchange.
The $1.9 billion U.S. of withdrawals marks the largest daily outflow over a 24-hour period since June of this year and accounted for the majority of the funds pulled from Binance in the past week.
Binance chief executive officer (CEO) Changpeng Zhao tweeted that the withdrawals are “business as usual.”
Like other crypto companies, Binance is under investigation by authorities around the world. The U.S. Department of Justice is reportedly concluding a criminal investigation focused on Binance’s compliance with U.S. anti-money laundering laws.
Binance spooked investors by halting the withdrawal of USDC, citing a token swap where digital token holders exchange their cryptocurrency over different blockchain networks. Binance has characterized the token swap as a routine event.
