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In the wake of the recent allegations, Binance, the leading cryptocurrency exchange, has seen a significant number of Bitcoin and Ethereum outflows.
According to data provided by Coinglass, the total number of bitcoins in existence is (51398).Bitcoin) Tokens have left Binance over the past month. The data shows that the majority of the outflows, around 48,000 coins, occurred on August 27, as many Palestinian users complained about assets being frozen on the exchange.
Additionally, Binance, the largest cryptocurrency exchange by trading volume, saw over 275,200 Ethereum (Ethereum) Tokens have left the exchange in the past 30 days. The platform has seen an outflow of 86,486 ETH in the past 24 hours alone.
The total amount of BTC and ETH leaving Binance over the past month is around $3.7 billion at the time of writing.
Despite the outflows, the data shows that Binance remains the second-largest holder of Bitcoin and Ethereum with a total balance of 566,113 BTC and 3.44 million ETH. Coinbase currently leads the chart with 824,887 BTC and 4.44 million ETH, according to Coinglass data.
Most of these outflows came after Ray Youssef, co-founder and former CEO of peer-to-peer crypto exchange Paxful, claimed that Binance It was caught The origins of its Palestinian users.
Binance told crypto.news that only a limited number of users were affected due to the exchange’s anti-money laundering and counter-terrorist financing policies.
Many pro-Palestine users on X have taken part in a new hashtag, #BoycottBinance. Some have even started deleting their accounts. Binance Accounts and criticism of the stock market move Freeze Palestinian users’ money.
