December 14, 2022, 1:14PM EST
• 6 min read

Rapid Insights: Analyzing Binance Withdrawals

Quick Take

  • 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.

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