The crypto exchange Binance sees significant withdrawals following a lawsuit by the US CFTC.
Around $1.6 billion in funds have been withdrawn from the crypto exchange Binance after it was sued by the US Commodities and Futures Trading Commission (CFTC), according to blockchain data tracker Nansen, which was cited by Reuters in news reports Thursday.
The pace of outflows also appears to be rising, with there being $852 million in withdrawals in the last 24 hours, up from an average of $385 million a day in the previous two-week period.
CFTC sued Binance on 27 March 2023, when it accused the company of operating both an illegal exchange and a sham compliance program.
