New York June 6 2023: Investors have pulled around $790 million from the crypto exchange Binance and its U.S. affiliate in the last 24 hours, data firm Nansen said on Tuesday, a day after a top U.S. regulator sued both exchanges.
Binance saw net outflows of $778.6 million of crypto tokens on the ethereum blockchain, with its U.S. affiliate, Binance.US, registering net outflows of $13 million, Nansen tweeted.
The U.S. Securities and Exchange Commission on Monday sued Binance, its CEO Changpeng Zhao and the operator of Binance.US over what it called a “web of deception” to evade U.S. laws.
The SEC alleged in 13 charges that Binance artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S. customers from its platform and misled investors about its market surveillance controls.
The lawsuit, which cited a number of practices first reported by Reuters in a series of investigations into the exchange, marks the most significant step against a crypto company by the SEC in its sweeping crackdown on the industry this year.
