Binance Funds Outflow at Normal Level, SEC's Asset Freezening Hearing on June 13

Binance has experienced around $1.8B of outflows over the past 3 days in light of the SEC's lawsuit against the world's largest crypto exchange. On June 6, net outflow was recorded at $1.12 billion, and $700 million on June 7 according to data from Defillama.

The data is for Binance main exchanges, not Binance US. The outflow is relatively normal fund flows for Binance, which implies a majority of users are not concerned with the recent action by the SEC.

Previously, the U.S. Securities and Exchange Commission (SEC) asked a court to grant a temporary restraining order to freeze assets tied to Binance.US on Tuesday.

CoinDesk reporter Nikhilesh De tweeted that there are two important timelines regarding the SEC's lawsuit against Binance US:

• The deadline for Binance and Binance.US to respond to the SEC's application for a temporary restraining order to "freeze assets" is 12 June;
• The hearing on the motion for a restraining order is scheduled for 13 June at 14:00 ET.