Following the implementation of the Markets in Crypto-Assets (MiCA) regulation, approximately 70% of European users withdrawing funds from Binance have opted for self-custody wallets. This trend, highlighted by Binance CEO Richard Teng, suggests that a significant portion of users are moving their assets to personal wallets rather than transferring them to other platforms compliant with MiCA. Only about 30% of the withdrawals have reportedly been directed to alternative regulated exchanges. Data from the week ending June 29 indicated a net outflow of approximately $1.23 billion from Binance. Teng noted that this user behavior could potentially undermine the consumer protection objectives intended by MiCA.
#crypto #blockchain #news
Blockchain Report
npub1cg…nmysr
2026-07-09 23:12:48 UTC
Author Public Key
npub1cg2ejqexhx88llcve0yxts2exv5q9k0a88l69q0vp7y5n0f2xyfscnmysrPublished at
2026-07-09 23:12:48 UTCEvent JSON
{
"id": "b4ddf83da29d853e4278f8761b117dfb7575bc561ee0af980168ffe80926060e",
"pubkey": "c215990326b98e7fff0ccbc865c159332802d9fd39ffa281ec0f8949bd2a3113",
"created_at": 1783638768,
"kind": 1,
"tags": [],
"content": "Following the implementation of the Markets in Crypto-Assets (MiCA) regulation, approximately 70% of European users withdrawing funds from Binance have opted for self-custody wallets. This trend, highlighted by Binance CEO Richard Teng, suggests that a significant portion of users are moving their assets to personal wallets rather than transferring them to other platforms compliant with MiCA. Only about 30% of the withdrawals have reportedly been directed to alternative regulated exchanges. Data from the week ending June 29 indicated a net outflow of approximately $1.23 billion from Binance. Teng noted that this user behavior could potentially undermine the consumer protection objectives intended by MiCA.\n\n#crypto #blockchain #news ",
"sig": "e6949d2c6af1d3d1085eaf941becf98147aabe3ad5b8ade721fe78314a988b8a576493e1fff99e21e0d21ca22438ae136d95400107c3bcf71b8bbb6d5f995fdd"
}