This is unusual Binance saw $1.3B in net outflows over the last month. And whatever way you frame it that’s not normal flow. People is leaving Trust is thinning. They withdraw because they don’t want to be last. Binance is the biggest platform. But data shows $1.8B leaving exchanges overall in the same window. So Binance may have taken the majority of the market-wide exit. This didn’t come out of nowhere The last month was ugly: BTC down ~22% ETH down ~32% And Binance had: - Feb 3 withdrawal pause glitch - Old insolvency rumors resurfacing - Regulatory pressure - past liquidation events Yes, Binance survived larger raw withdrawal days in 2022. Maybe not collapse today. But it’s the kind of flow you see when people start asking: “What if?”