Binance, the world’s biggest crypto exchange, recorded a massive $21.75 billion outflow in the past week after President Trump announced a 100% tariff on China, which caused fear and sharp reactions across the crypto market.
Data from CoinGlass shows that about $4.1 billion was withdrawn from Binance within 24 hours. This happened as Bitcoin price dropped from $111,797 to $102,000, while Ether dropped to $3,500 and Solana slid below $140. The drop caused many traders to sell off their position and move their funds out of exchanges.
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Other major exchanges also saw large withdrawals. CoinGlass reported that Bitfinex lost $390 million in one day and $905 million over the week. OKX saw $288 million withdrawn in 24 hours and more than $1 billion in seven days. Gate and Bitget each recorded outflows of over $1 billion. In contrast, smaller platforms like Bitunix gained around $147.7 million, suggesting some traders were moving to what they see as safer options.
CoinGlass also reported record trader liquidations of $19.1 billion. Researcher Yan said the actual figure might be “much higher” because Binance only records the latest liquidation each second. “Liquidations come in bursts, causing up to 100x underreporting,” Yan explained. The platform added that Binance’s system could miss data during high trading volumes.
In response, Binance admitted that the market drop had affected both prices and user confidence. The company launched the “Together Initiative” to support users and rebuild trust on October 14, 2025.
Founder Changpeng Zhao (CZ) said, “No other company had protected its users to such an extent, even to this day.”
Meanwhile, several crypto commentators on X have advised users to withdraw funds, warning of possible system risks. These warnings have fueled more withdrawals, although Binance insists its services remain stable.
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