The crypto firm did not provide a reason for the halt but added that only 0.01% of its monthly active users leverage USD bank transfers.
- The halt only applies to non-U.S. customers who transfer money to or from bank accounts in USD.
- The halt does not impact Binance US customers.
- According to Arkham Intelligence, there was a surge in outflows from Binance’s crypto wallets following news of the suspension.
- Binance has about $42.2B worth of crypto assets, and roughly $172M was withdrawn from the crypto firm on Monday.
- A Binance spokesperson said the firm is still overwhelmingly net-positive on net deposits.
