Binance Users Withdraw 3,611 BTC Following CFTC Lawsuit
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According to data provided by Coinglass, the users of cryptocurrency exchange Binance have withdrawn 3,611 BTC (nearly $100 million) one day after the CFTC lawsuit.

Competing platforms, including Coinbase, Bitfinex and Gemini, have seen an increase in cryptocurrency reserves as a result.

The total balance of Bitcoins on exchanges has declined since March 20. Over the past week, a total of around 27,000 BTC were withdrawn.

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Notably, Binance still holds $63.36 billion in digital assets, including $2 billion in USDT, $17 billion in Bitcoin and $8.1 billion in Ethereum.

According to Thanefield Capital, a few hours before the CFTC lawsuit, almost $1.5 billion in cryptocurrencies were withdrawn from the largest trading platforms. Of these, $850 million came from Binance.

Last March 27, the CFTC filed a lawsuit against Binance and its CEO, Changpeng Zhao for allegedly violating the rules for derivatives trading by operating without proper registration.

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