Crypto markets are showing solid recovery just a day after the news broke regarding the resignation of one of the industry’s most enigmatic and influential characters. Moreover, there has been no panic or mass exodus from Binance which is ticking along as usual. 

There was no surge in Binance exchange withdrawals following the settlement of charges against Binance and CEO Changpeng “CZ” Zhao in the United States. 

No Binance Exodus 

Binance is the world’s largest crypto exchange by volume. The charging and resignation of its CEO, a highly influential industry leader, should have crashed crypto markets.

But it didn’t. 

According to on-chain analytics provider Nansen, there was no mass exodus of funds from the exchange in the 24 hours that followed the news breaking. 

On Nov. 22, Nansen reported that “withdrawals are continuing, and we’re not seeing a mass exodus of funds.”

There was a slightly elevated outflow with a $956 million negative net flow in the day that followed the news, but nothing alarming.

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Author: Martin Young

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