Binance Has Seen Crypto Inflows Surge Since Its Historic Fine
- January best month for inflows since at least November 2022
- New CEO Richard Teng must still contend with lawsuit from SEC
The Binance website.
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Crypto traders are again flocking to Binance, the giant digital-asset exchange which two months ago paid a multibillion-dollar US penalty over illegal activities and parted ways with founder and Chief Executive Officer Changpeng “CZ” Zhao.
Binance has recorded net inflows of $4.6 billion since its Nov. 21 agreement with US agencies, where it pleaded guilty to crimes including money laundering and sanctions evasion, according to data from DefiLlama. That far outpaced what some of its biggest rivals, including OKX and Bybit, took in.