Blockchain data firm Nansen, on Tuesday, revealed that crypto exchange company Binance saw withdrawals amounting to $1.9 billion in the last 24 hours.
This is the largest daily outflow since at least June, according to Nansen.
Binance CEO Changpeng Zhao tweeted earlier in the day that the world's biggest crypto exchange "temporarily paused" withdrawals of the major stablecoin USDC as the exchange saw an increase in withdrawals of USDC.
A Nansen spokesperson said, "Binance's withdrawals are increasing due to the growing uncertainty about its reserves report."
The crypto exchange firm had, last week, tweeted proof-of-reserves report which showed its holdings of bitcoin exceeded customer deposits on a single day in November.
On Monday, Binance saw withdrawals totaling $902 million, reported CoinDesk.
"People deposit and withdraw assets everyday for a variety of different reasons. User assets at Binance are all backed 1:1 and Binance’s capital structure is debt free. We always have more than enough funds to fulfil withdrawal requests," Reuters quoted a Binance spokesperson as saying.
