Binance Records $400 Million Outflow Before MiCA Deadline
BITmarkets Team
Jun 29, 2026
According to DefiLlama data reviewed by Cointelegraph on Sunday, the seven-day outflows represent approximately 0.3% of Binance’s $133.3 billion in tracked assets. Excluding BNB, the exchange’s native token, the figure rises slightly to around 0.35% of its $113.8 billion in crypto holdings.
The largest daily movement occurred on Wednesday, when Binance announced it was withdrawing its Greek MiCA application. The exchange recorded $1.96 billion in net outflows that day, followed by an additional $2.52 billion and $1.46 billion over the next two trading sessions.
Despite the headline figures, such movements are not unusual for Binance, which regularly processes billions of dollars in daily inflows and outflows. The available data also does not indicate where the funds originated or where they were transferred. These withdrawals occurred during the final days before the European Union's July 1 MiCA transition deadline, after which Binance will begin restricting onboarding and certain services for affected European users.
Competitors benefit as MiCA licensing race continues
Several competing exchanges have attempted to capitalize on Binance's regulatory transition by attracting European users. OKX, which has actively promoted its MiCA-compliant services, recorded approximately $285.5 million in net inflows during the same period, according to DefiLlama’s tracking of exchange reserve wallets and proof-of-reserves data. The exchange secured its MiCA authorization in Malta in January 2025.
However, OKX did not lead weekly inflows. Bitget topped the list with approximately $710 million in net inflows, followed by Bitfinex with roughly $400 million. Interestingly, neither exchange currently appears on the European Securities and Markets Authority’s (ESMA) interim MiCA register, last updated on Friday. The figures suggest that while MiCA compliance is becoming increasingly important, exchange flows continue to be influenced by a broader range of factors beyond licensing status alone.
Binance remains committed to the European market
Although Binance is expected to miss the July 1 licensing deadline, the company says Europe remains a strategic priority. CryptoQuant analyst Maartunn recently told Cointelegraph that euro-denominated trading accounts for only around 1% of Binance’s total spot trading volume, suggesting the immediate financial impact of MiCA-related restrictions may be relatively limited.
Even so, Binance has emphasized its long-term commitment to the region. “As for Binance and Europe, we take this market seriously. It's a small part of our business, but an important one, and we're committed to the EU and our customers there,” Yi He, a co-founder of the exchange, said on Friday.
In preparation for the regulatory changes, Binance has begun advising some European users to transfer assets to self-custody wallets or alternative exchanges where appropriate. A Binance spokesperson clarified that restrictions will differ depending on each user's jurisdiction, adding that customers who are not served through a locally registered Binance entity do not need to take any action.
Meanwhile, ESMA reiterated in a June 23 statement that crypto service providers operating without a MiCA license after July 1 must immediately begin winding down their EU activities, limiting services to asset transfers, sales, position closures, or customer offboarding.
Sources:
https://cointelegraph.com/news/binance-400m-weekly-net-outflows-mica-deadline-nears
https://x.com/_RichardTeng/status/2069808071082414456
