10,500 BTC Leave Binance Balances Following SEC Lawsuit

Following the announcement of the SEC charges against Binance, the exchange has seen a decrease of 10,500 bitcoins in its bitcoin balance.

Data from Glassnode revealed that there have only ever been 11 days with a higher value.

The peak outflow was 40,300 BTC at the end of 2022, with the current value being four times lower.

This puts the outflow at an equivalent of $277 million, with 14 episodes throughout history where the outflow was even higher, reaching a record of $1.04 billion.

According to experts, 51% of outflows were generated by transactions ranging between $1 million to $10 million, while the remaining 25% came from amounts ranging from $100,000 to $1 million.

Despite this significant withdrawal, Binance-related addresses still hold 694,000 BTC, just 10,500 BTC lower than their historical all-time high of 704,500 BTC.