Binance Hit by Crypto Outflows as FTX’s Fall Rocks Exchanges (1)

Binance Holdings Ltd., the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations that rival FTX may have misused customer funds before its November implosion.

Net outflows of digital tokens from Binance amounted to about $3.7 billion in the past week, including almost $2 billion in the last 24 hours, according to data from research firm Nansen as of 9:20 a.m. in London. The one-day number was nearly 18 times higher than the next largest outflow, which was from Bitfinex.

Binance founder Changpeng Zhao has taken to Twitter ...