Benzinga - Binance, the world's largest digital currency exchange, experienced a significant drop in its stablecoin reserves over the past several months, with the value plummeting from $24.5 billion in December 2022 to $10.7 billion as of Wednesday, representing a 65% decrease, according to a CryptoQuant analysis.
What Happened: Despite these periods of high net outflows, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) reserves have remained healthy, as per the analysis.
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Binance Exchange's Health After the CFTC LawsuitCQ's research team assessed the behavior of Binance net-outflows and reserves of $BTC, $ETH, and Stablecoins in three recent stress-test periods.
- Regulatory FUD after FTX Collapse
- Paxos' announcement
- CFTC lawsuit
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