Binance continues to see significant inflow and outflow

Despite last week’s developments, Binance continues to see significant inflow and outflow of funds, as shown in our latest graphic. It’s a testament to the resilience of the crypto market and the trust users place in it.

Binance, the world’s largest crypto exchange, has reached a settlement with the U.S. government, marking a significant shift in cryptocurrency regulation and compliance.

As part of the resolution, Binance and its founder, Changpeng “CZ” Zhao, have admitted to violating U.S. laws around money laundering and terror financing, agreeing to pay a staggering $4.3 billion in fines. This is one of the largest penalties ever obtained from a corporate defendant.

In a surprising turn of events, CZ has also stepped down as CEO. He pleaded guilty to failing to maintain an effective anti-money laundering program. His fine will be credited against the amount he owes the Commodity Futures Trading Commission.

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Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

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