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News Explorer — Investors Pulled $1.8B Off Binance in May While OKX Saw 2% Bump in Deposits

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May 31, 1:36 pm

DL News

Investors Pulled $1.8B Off Binance in May While OKX Saw 2% Bump in Deposits

Binance is facing a net outflow of $1.8 billion worth of cryptocurrency assets due to regulatory pressure and the loss of banking and payments provider partners. This has caused rival OKX to experience a 1.9% jump in deposits in the last four weeks. Banks are becoming increasingly wary of dealing with crypto exchanges, leading to the blocking of customers from Binance and other exchanges.

Binance is facing a net outflow of $1.8 billion worth of cryptocurrency assets due to regulatory pressure and the loss of banking and payments provider partners. This has caused rival OKX to experience a 1.9% jump in deposits in the last four weeks. Banks are becoming increasingly wary of dealing with crypto exchanges, leading to the blocking of customers from Binance and other exchanges.

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