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Binance CEO responds as EU licensing pressure pushes users to self-custody

AI Market Summary
Binance's EU service suspension for licensing issues and subsequent outflows—reported as ~70% moving to self-custody and ~30% to compliant exchanges—highlight how tighter regulation may shift liquidity away from centralized venues. This can alter near-term market microstructure via reduced exchange balances, thinner venue liquidity, and higher fragmentation of order flow across venues and wallets, affecting execution conditions across major crypto assets.
Impact level
● Medium
Affected assets
BTC/USDT+0.71%
AI Insight · BTC/USDTAI Insight
● Neutral
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Binance CEO Richard Teng weighed in after Binance was forced to suspend certain services for European users due to licensing issues. Data cited by Wu Blockchain suggests the suspension triggered a notable shift in where users moved their assets: roughly 70% of withdrawn funds reportedly went to self-custody wallets, while about 30% flowed to compliant exchanges. The figures are fueling questions over whether the EU's regulatory approach is steering users away from regulated venues and toward less supervised alternatives.
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