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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.

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