Binance withdrawals hit $1.9 billion in 24 hours
Image Source: taiwannews.com.tw
Binance, the biggest cryptocurrency exchange in the world saw $1.9 billion worth of withdrawals in only one day.
SEC charged FTX founder Sam Bankman-Fried on Tuesday with defrauding investors.
According to Binance's CEO, the exchange had experienced worse days before.
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The cost of digital coins has been falling due to worries about the industry’s state. The price of bitcoin was last going below $18,000.
Zhao claimed that after FTX’s demise, people had lost faith in the cryptocurrency industry.
US authorities were considering concluding its probe into Binance’s money laundering by filing criminal charges against specific officials.
Bankman-Fried was charged with eight crimes, including conspiracy and wire fraud.
Splits among US Department of Justice officials are delaying the resolution of a protracted criminal investigation into Binance.
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