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Data from DefiLlama, a decentralized finance data aggregator, reveals that Binance, the world's largest cryptocurrency exchange, saw inflows totaling approximately $1.5 billion in the week ending on Dec. 8. During this period, Binance's visible on-chain assets amounted to $74 billion, surpassing the combined total of the next thirty largest crypto exchanges.
The Journal Du Coin provided context for these figures by noting that while Binance holds more than $74 billion in on-chain assets, "the closest exchange to Binance on this metric holds just over $13 billion." The Journal also emphasized that DefiLlama's data shows Binance "is showing resilience, a few days after Richard Teng took over the management of the group. The exchange remains the undisputed number 1 with 170 million users, significant liquidity and confidence which seems preserved."
On Nov. 21, Binance reached a settlement with the U.S. government to resolve historical compliance issues. In a post on its website, the company acknowledged its responsibility for past criminal compliance violations and expressed its intention to move forward from this "challenging yet transformative chapter of learning and growth." As part of this process of change and resolution, former CEO Changpeng Zhao stepped down and was succeeded by Richard Teng, previously serving as Global Head of Regional Markets for Binance.
