The $1.9 billion figure marks the largest daily outflow since at least June, according to Nansen data, and accounted for the lion’s share of the $2.2 billion in ethereum-based withdrawals over the past seven days.
“Binance withdrawals are increasing due to growing uncertainty about its reserves report,” a Nansen spokesperson said.
Binance did not immediately respond to requests for comment. Cryptocurrency news outlet CoinDesk previously reported that Binance saw outflows of $902 million on Monday.
The stock market is already under pressure from the authorities. Divisions among United States Department of Justice prosecutors are delaying the conclusion of a lengthy criminal investigation focused on Binance’s compliance with anti-money laundering laws and penalties, Reuters reported Monday.