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Binance Bitcoin Balance Drops by 3.4K BTC Within 24 Hours of CFTC Lawsuit

Following the US Commodity Futures Trading Commission's (CFTC) lawsuit against Binance and CEO Changpeng Zhao, investors have reportedly pulled more than 3,400 Bitcoin from the exchange within 24 hours. This comes as investors have started spreading out their assets to minimize the impact of a potential shutdown. Binance's total Bitcoin balance has decreased by over 3,900 BTC over the past week, with 3,400 BTC withdrawn in the past 24 hours. Other exchanges, including Coinbase, Bitfinex, and Gemini, have seen an increase in BTC reserves during the same period. It's worth noting that Bitcoin balances on major exchanges have been decreasing since March 20, with nearly 27,000 BTC taken off exchanges in the past week.

(By ARIJIT SARKAR)

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