{"id":79833,"date":"2023-06-06T18:57:46","date_gmt":"2023-06-06T15:57:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79833"},"modified":"2025-09-11T13:18:27","modified_gmt":"2025-09-11T10:18:27","slug":"glassnode-sec-filing-spurred-10500-btc-outflow-from-binance-balances","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/glassnode-sec-filing-spurred-10500-btc-outflow-from-binance-balances\/","title":{"rendered":"Glassnode: SEC filing spurred 10,500 BTC outflow from Binance balances"},"content":{"rendered":"<p>Since the U.S. Securities and Exchange Commission <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">charges against Binance<\/a>, the exchange&#8217;s Bitcoin balances have fallen by 10,500 BTC. Across the platform&#8217;s history there have been only 11 days when this figure was higher, according to Glassnode.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Following the SEC&#8217;s 13 civil charges against the leading cryptocurrency Exchange Binance, the Exchange experienced a net outflow of -10.5K BTC, with only 11 trading days recording larger outflows.<\/p>\n<p>However, the current value remains a significant -29.8K BTC (-74%) smaller than the\u2026 <a href=\\\"https:\/\/t.co\/Qsk8zWTVe3\\\">pic.twitter.com\/Qsk8zWTVe3<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\\\"https:\/\/twitter.com\/glassnode\/status\/1666031939474669568?ref_src=twsrc%5Etfw\\\">June 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>The all-time outflow record (40 300 BTC) occurred in late 2022. The current level is one-quarter of that.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In dollar terms, the outflow amounts to $277 million \u2014 there have been 14 instances in history where the amount was higher. The record was also effectively four times higher ($1.04 billion).<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>51% of outflows were transactions in the range of $1M to $10M. Another quarter was in the $100K to $1M range.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Breaking down the Net Transfer Volume from\/to Binance by USD Size, 51% of the of outflow volume was driven by withdrawals sized $1M-$10M.<\/p>\n<p>? More than $10M: -$26M (9.3%)<br \/>? $1M to $10M: -$141M (51%)<br \/>? $100K to $1M: -$70M (25.2%)<br \/>? $10K to $100K: -$29M (10.5%)<br \/>? Less than\u2026 <a href=\\\"https:\/\/t.co\/rvqSUlhzM2\\\">pic.twitter.com\/rvqSUlhzM2<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\\\"https:\/\/twitter.com\/glassnode\/status\/1666032178226970625?ref_src=twsrc%5Etfw\\\">June 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>Despite the statistically significant outflows, addresses linked to Binance hold 694 000 BTC, only 10 500 BTC below their <span data-descr=\\\"historical high\\\" class=\\\"old_tooltip\\\">ATH<\/span> (704 500 BTC).<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>The recent surge in withdrawals has had only a marginal impact on the exchange&#8217;s balance<\/em>, \u2014 the experts concluded.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>The reasoning of Glassnode&#8217;s analysts aligns with CryptoQuant&#8217;s assessment. The latter also described, in historical retrospect, the exchange&#8217;s &#8216;stress&#8217; as moderate, or regulatory Fear, Uncertainty and Doubt (FUD) after the news of the SEC&#8217;s filing.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Binance Exchange On-Chain Analysis in the Context of CFTC-SEC-Binance Lawsuit Cases<\/p>\n<p>On a nominal basis, Binance has experienced large net outflows of Bitcoin and Ethereum after today\u2019s SEC lawsuit announcement. <\/p>\n<p>Details on the thread?<\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\\\"https:\/\/twitter.com\/cryptoquant_com\/status\/1665929071694610432?ref_src=twsrc%5Etfw\\\">June 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>In the context of stablecoins outflows in the ERC-20 format, the platform did not record notable activity. By December, reserves of such assets had collapsed from $24.5 billion to $8.2 billion, mainly in BUSD.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>The total number of withdrawals (in Bitcoin, Ethereum and stablecoins) rose sharply [&#8230;], but they remain within historically normal levels<\/em> \u2014 the experts noted.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/expert-whales-bought-the-dips-amid-binance-lawsuit\">bought the dip<\/a> after the news of the SEC&#8217;s lawsuit against Binance, according to Lookonchain.<\/p>\n<p>\\n\\n\\n\\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Since the SEC filed charges against Binance, the exchange&#8217;s Bitcoin balances have fallen by 10,500 BTC. Across the platform&#8217;s history, there have been only 11 days when this figure was higher, according to Glassnode.<\/p>\n","protected":false},"author":1,"featured_media":79834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,18,46,1273,1145],"class_list":["post-79833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-bitcoin","tag-ethereum","tag-glassnode","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=79833"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79833\/revisions"}],"predecessor-version":[{"id":79835,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79833\/revisions\/79835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79834"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}