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Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion.
This issue of Rapid Insights summarizes the latest developments surrounding the outflows from Binance.
While Binance saw a pause in USDC withdrawals, it was alleged that the bottleneck was due to the redemption process for BUSD to USDC.
After the FTX collapse, the crypto community is far more cautious towards centralized exchanges and their solvency.
Ultimately, this serves as a stress test for Binance, though the volume of outflow over the past week is nowhere near the scale which would significantly threaten Binance’s liquidity.
Footnotes
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