No ‘mass exodus of funds’ following Binance-DOJ settlement — Nansen
Blockchain analytics firm Nansen stated that after Binance and its CEO settled civil and criminal charges, there wasn't a significant outflow of funds from the crypto exchange. Despite a $4.3 billion settlement with the US Department of Justice resulting in a net outflow of $956 million from its Ethereum holdings in 24 hours, Binance’s total holdings increased to over $65 billion. Nansen also reported that Binance's Tether (USDT) holdings decreased by around $246 million within a day. Meanwhile, XRP and TrueUSD holdings remained steady. This comes after Binance reached a plea deal with US officials which allowed it to continue operating under regulatory scrutiny. Richard Teng, the global head of regional markets replaced Changpeng Zhao as the CEO and affirmed that Binance's fundamentals remained strong despite the legal scrutiny.
