Binance posts over $400M in weekly net outflows as MiCA deadline nears
Binance saw more than $400 million in net outflows in the week starting June 22, coinciding with its decision to withdraw its MiCA license application in Greece. DefiLlama data shows the outflows were about 0.3% of Binance’s tracked $133.3 billion in assets, or 0.35% excluding BNB. Outflows spiked after the withdrawal announcement, with daily net outflows of $1.96 billion, $2.52 billion, and $1.46 billion on successive days. The flows are not unusually large for Binance, which often sees billions in daily movement, and the data does not show where funds came from. The timing came just before the EU’s July 1 MiCA transition deadline, after which Binance must limit onboarding and some services for affected EU users. Rivals such as OKX, Bitget, and Bitfinex saw notable inflows, but the biggest “MiCA winner” remains unclear. Binance says Europe remains strategically important and it still intends to pursue MiCA authorization.
