Visit the Binance website and click on the 'Register' button. This guide will walk you through the process of withdrawing money from a US bank account using crypto with Binance. Binance, one of the world's leading digital asset exchanges, enables users to buy, sell, and trade cryptocurrencies securely. Withdrawing money from a US bank account using cryptocurrencies is gaining popularity due to the convenience and speed it offers. David Hollerith, as always, appreciate that time.Note: Binance may not be available for operation in all countries. In the long-term, obviously, huge backdrop of uncertainty in terms of what's going to happen with these lawsuits the SEC has filed.ĪKIKO FUJITA: Yeah, uncertainty is still the big word within this space. So at least, in the short-term, it seems like investors are not as panicked here. So those are still large numbers, but it's nothing like we've seen at FTX. And the reason why we look at this is, obviously, with FTX, after bad news happened in November and people started to question FTX's balance sheet, we started to see sort of a crypto bank crime.Īnd we've definitely seen higher outflows, $2.4 billion in net flows for Binance and $1.9 billion in net flows, both negative numbers, for Coinbase in the last seven days. They've tapered off in the last 24 hours.Īnd for the last seven days, so what we can assume is like the whole seven-day period since the lawsuits came out, Binance and Coinbase both look fairly sound in terms of what the outflows are. All this to say, though, that we have been paying attention to the net flows or net transfers going in and out of both companies, or both exchanges. With Binance, it looks a little bit more dicey. But that being said, people have pointed out that Coinbase is in a scenario where they could present arguments that they have a potential chance. But I think, in general, it just kind of hangs a worse backdrop in terms of what it means for US investors in the space. The Binance case has a little bit- has several more issues. And for the two companies, crypto's two largest companies, uncertainty is like the main thing that everyone is concerned about. And they were citing essentially uncertainty. CEO Armstrong did say on Wednesday that it's business as usual, but it's still worth pointing out that Moody's changed their outlook for Coinbase yesterday afternoon. It's a little bit slower moving just in terms of the first week. For Coinbase, it's nothing quite as pressing in the case right now. And when you see these banking partners cut off a company like that, it obviously severely limits liquidity. So we'll wait to see that, but that's obviously a bit of a bigger deal. And as part of that, it also means preserving the documents, their internal documents that are part of Binance and Binance US. And in it, a judge is going to weigh whether or not to take the SEC's motion to place a restraining order on Binance US's assets. In the latest in the case the SEC is undergoing with them, has a hearing set for Monday afternoon. The company said they're moving to be a crypto-only exchange. DAVID HOLLERITH: Right, yeah, Akiko, this move by Binance US, one way to interpret it is it's a signal that its banking partners have dropped the company.
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