Depositors return to the Binance exchange

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Deposits are returning and “things seem to have stabilized” at Binance, the CEO of the major cryptocurrency exchange, Changpeng Zhao, wrote on Twitter, a day after a sharp increase in withdrawals and the suspension of trading in some stablecoins.

Blockchain data firm, Nansen, reported yesterday that $1.9 billion in withdrawals were made from Binance in the last 24 hours and that the exchange announced a temporary halt to withdrawals on the stablecoin USDC.

The $1.9 trillion worth of cryptocurrency withdrawals from the Ethereum blockchain was the largest daily outflow since June 13, according to data from Nansen.

The handling by crypto exchanges of their customers’ deposits is under scrutiny from regulators and consumers.

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