Binance sees $5.54 billion net outflow on day of exploit
- —USDT outflows hit $2.35 billion, BTC $1.78 billion, USDC $999 million, ETH $413 million
- —Stablecoins made up 60.5% of outflows at $3.35 billion
- —BTC reserves on the exchange fell to 682,300 coins
- —$627.7 million liquidated within an hour, 96.6% longs
Why it matters: Thinner liquidity on the largest exchange could amplify price swings, though Binance's pledge to cover losses via SAFU limits panic.
Source: BeInCrypto RU