Binance CEO: 70% Of EU User Withdrawals Moved To Self-Custodied Wallets After MiCA Exit
The post Binance CEO: 70% Of EU User Withdrawals Moved To Self-Custodied Wallets After MiCA Exit appeared on BitcoinEthereumNews.com. When a titan of centralized exchanges fully exits a major market, regulators expect an orderly flow into supervised platforms. The European Unionu2019s Markets in Crypto-Assets framework was designed precisely for this u2014 to channel crypto activity into licensed, compliant venues. The actual data from Binanceu2019s EU shutdown suggests reality runs hard in the opposite direction. According to a report citing Binance CEO Richard Teng, approximately 70% of the funds that EU users withdrew after the exchange suspended services moved into self-custodied wallets. Only 30% ended up on MiCA-compliant platforms. For a regulatory regime built on the premise that licensing leads to consumer protection, that number is a quiet indictment of how detached the official playbook is from user behavior. The 70% That Went Outside the Tent Teng did not mince words. He ar