Binance sees $3.6 billion in outflows in a week as customers pull funds from the exchange - but CEO Changpeng Zhao says its 'business as usual'

• Binance has seen heavy withdrawals as the FTX implosion continues to shake confidence in the sector.
• The exchange saw roughly $3.66 billion in net outflows over the last week, per Nansen data.

Binance, the world's largest cryptocurrency exchange, has seen $3.66 billion in net outflows over the last week, according to data compiled by Nansen.

Customers have pulled a total of $8.78 billion out of the crypto exchange, while $5.12 billion have flowed into company, per Nansen's exchange flows dashboard.

Despite the sizable withdrawals, Binance still holds about $58.9 billion in assets, according to Nansen data cited by Decrypt.

Amid the outflows from the exchange, Binance CEO Changpeng "CZ" Zhao, shrugged off any concerns about customers withdrawing funds.

"We saw some withdrawals today," CZ tweeted Tuesday. "We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us."

His comments come shortly after the exchange temporarily froze customer withdrawals of the USDC stablecoin. The company announced withdrawals had resumed Wednesday.

Separately, the exec warned employees in an internal memo that he expects the "next several months to be bumpy," Bloomberg reported Wednesday.

A "historic moment" is beginning, he said, as repercussions from FTX's collapse continue to rattle the industry, but Binance is financially secure enough to survive a downturn.

Meanwhile, on Monday, Reuters said that the US Department of Justice has been investigating Binance over money laundering violations, reporting that the exchange had processed over $10 billion worth of illegal payments in 2022.