Binance experiences minor Bitcoin outflows despite SEC lawsuit fears

Quick Take

• Bitcoin outflows on June 7 from Binance seem rather small compared to previous capitulations.
•  Roughly 12,000 Bitcoin have left Binance on June 7.
• In the past year, especially during the FTX collapse, Binance saw 40,000 Bitcoin level the exchange in one day.
• It suggests investors are not fazed by the SEC lawsuit on the potential of freezing of assets. 
• However, the main talking point of today is the price action of BNB, which is down 8% on June 7.

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