News
Public · Published
Most funds leaving Binance in the EU went to self-custody, not rivals After MiCA took full effect and @binance pulled its Greek license bid, 70% of the EU funds withdrawn from the platform went to self-hosted wallets, and only 30% to MiCA-regulated exchanges, per co-CEO
After MiMA became fully effective and Binance pulled its Greek licence bid, 70% of EU funds withdrawn from Binance were moved to self‑hosted wallets, while the remaining 30% went to other MiMA‑regulated exchanges, according to the co‑CEO.
Published:
Updated:
What happened
After MiMA became fully effective and Binance pulled its Greek licence bid, 70% of EU funds withdrawn from Binance were moved to self‑hosted wallets, while the remaining 30% went to other MiMA‑regulated exchanges, according to the co‑CEO.
Confirmed
Global impact / market context
Moving funds to self‑custody (where investors hold private keys themselves) reduces Binance's on‑platform liquidity, meaning fewer assets are available for trading, which can lower its fee revenue and boost demand for secure wallet providers.
Analyst inference
The EU's Markets in Crypto‑Assets (MiMA) regulation, now fully in force, requires crypto exchanges to obtain licenses and meet compliance rules; Binance also withdrew its application for a Greek operating licence.
Confirmed
What to watch
- If Binance pursues licensing in other EU countries, it could win back institutional funds, improve its regulatory standing, and restore trading volume on its platform. Analyst inference
- Growth of self‑custody services, as investors keep assets in personal wallets, may increase revenue for wallet providers and drive investment in security technology. Analyst inference
- Liquidity and trading‑volume trends on MiMA‑regulated exchanges, which are receiving the 30% of funds, will show how quickly they can capture market share and generate fee income. Analyst inference