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Binance withdrawals surge to $3 billion, CEO CZ calls its ‘business as usual’

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A deja-vu in the crypto industry.

that prosecutors were investigating a money laundering investigation against Binance and CEO Changpeng Zhao , and other executives could face criminal charges., Binance halted the withdrawals of the stablecoin USDC, pegged to the U.S. dollar, for about eight hours on Tuesday to initiate a token swap. The news worried investors, who, led by the quantitative trading firm, Jump Crypto, made large withdrawals totaling $3 billion in net outflows over 24 hours from Binance.

Later, the analytics firm Nansen also tweeted Binance's stablecoin holdings in a publicly disclosed address.

 

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