Despite recent regulatory troubles and allegations of asset shuffling, Binance's on-chain balance remains high at $64 billion, according to data from blockchain analytics firm Nansen. The exchange's largest holdings are USDT, BTC, ETH, BUSD, and BNB, which make up roughly 81% of its total balance. The high on-chain balance indicates the strength and asset backing of Binance, which may cushion outflows from the exchange in the face of regulatory challenges. Binance has seen over $600 million in customer token outflows since the regulatory troubles, but some analysts believe the situation is business as usual for the exchange.

(By Sage D. Young)