After losing $3.8 Billion in withdrawals last month, Binance is already recovering well to gaining $1 Billion in deposits so far this month. They may have had a stumble but Binance will probably be fine even if they exit the US.

Last month Binance faced withdrawals of 3.84 Billion in the face of SEC action. They are of course still facing a laundry list of accusations from the SEC. In spite of all this, Binance “only” lost almost 4 Billion which is barely 6% of their total reserves.

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https://preview.redd.it/9ezjg44vvkdb1.png?189&format=png&auto=webp&s=5233acee7192e58a823cc23c03d3ab00c2fcd3c0

However this month Binance has already recovered around around $1 Billion in funds seemingly from users returning after overcoming the fear around the initial SEC allegations.

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https://preview.redd.it/xm81t1mwvkdb1.png?185&format=png&auto=webp&s=ca94c8bc39aee2bee16db81fcfcf46127bd9cf46

It may also be from new users who fell into the hype of XRP winning the case and are getting into crypto or depositing to an exchange to sell. Their managing to recover $1 Billion is also particularly substantial because of their exits from Canada, Netherlands, UK, Belgium & Cyprus while being investigated in both France, US as well as Australia, where they also lost their derivatives license.

In spite of all the fear around Binance, even if the worst comes to pass with them being forced to leave the US and its relatively large customer base, Binance’s market share is still extremely large and they won’t be going anywhere anytime soon.

Data source from Defillama:

https://defillama.com/cex/binance-cex?usdInflows=true&twitter=true&groupBy=monthly