Binance status: access issues and outage reports

Problems in the last 24 hours

The graph below depicts the number of Binance reports received over the last 24 hours by time of day. When the number of reports exceeds the baseline, represented by the red line, an outage is determined.

Most Reported Problems

The following are the most recent problems reported by Binance users through our website.

• Website (43%)
• Transactions (29%)
• Mobile App (14%)
• Login (14%)

Live Outage Map

The most recent Binance outage reports came from the following cities:

City	Problem Type	Report Time
Angers	Login	18 days ago
Itu	Website	25 days ago
Seattle	Website	25 days ago
Nice	Mobile App	1 month ago
Beaucaire	Transactions	2 months ago
Beaucaire	Transactions	2 months ago

Full Outage Map

Community Discussion

Tips? Frustrations? Share them here. Useful comments include a description of the problem, city and postal code.

Beware of "support numbers" or "recovery" accounts that might be posted below. Make sure to report and downvote those comments. Avoid posting your personal information.

Binance Issues Reports

Latest outage, problems and issue reports in social media:

• 
  SENTINEL LABS (@Sentinel_LAB) reported 3 minutes ago

  what happened: wallets linked to the team reportedly moved about 625k DEXE ($6.2M) to Binance on jul 21 with roughly 4k holders and a razor thin float, $6M of supply was enough to unwind a multi billion dollar chart down to $300M the structure that let it ignore btc on the way up is the same structure that deleted it in an afternoon (5/8)

• 
  RYO Coin (@ryodigital) reported 4 minutes ago

  @BSCNews @binance @cz_binance One of the biggest lessons in crypto is that utility often outlasts hype. Stablecoins succeeded because they solve real-world problems, not because they generated the most excitement.

• 
  HOKANEWS.COM (@hokanewscom) reported 6 minutes ago

  JUST IN: Crypto Security Alert: Binance Battles Phishing Risks as India Limits BitChat Access

• 
  Phantom Flow (@getphantomflow) reported 7 minutes ago

  NEW: Investigators in Europe said that the cryptocurrency giant Binance had made it more difficult to track down scammers and solve other crimes.

• 
  Crypto Aman (@cryptoamanclub) reported 8 minutes ago

  🚨 NCB'S BIGGEST DARKNET DRUG BUST — "OPERATION MELON" MASTERMIND: Edison Babu — Mechanical Engineer, Muvattupuzha, Kerala. Worked in Bengaluru and Pune before starting a darknet operation. SEIZURE: ↳ 1,100+ LSD blots ↳ 131g Ketamine ↳ ₹70 lakh in USDT — stored in a hardware wallet ↳ TAILS OS — used for darknet access NETWORK: ↳ 600+ shipments — Bengaluru, Chennai, Delhi, Bhopal, Patna ↳ Source: UK-based vendor "Gunga Din" ↳ India's only Level 4 darknet vendor — active for 2 years CRYPTO ANGLE: NCB is now investigating Binance custodial wallets for possible links. Used encryption. Used the darknet. Still got caught through a postal parcel.

• 
  Ziadul Hasan (@alveejack1) reported 8 minutes ago

  @Othmane_Bad1 binance support actually got me once, but always triple-check the address first tbh.

• 
  Signal_guy (@Cryptoprime00) reported 11 minutes ago

  As long as btc holds and chops tight, certain alts have the room to go and bounce off support. Very hard to call but just sitting back watching the PA. Binance #AVA/ $USDT Take-Profit target 3 ✅ Profit: 13.8571% 📈 Period: 8 Days 2 Hours 7 Minutes ⏰

• 
  Binance Customer Support (@BinanceHelpDesk) reported 12 minutes ago

  @Aslam72174123 @binance Hi there! We have checked Case ID #166427118 and confirmed that the video you submitted showing the upload attempts failing has been escalated to the relevant team for review and investigation. The team is currently working on it, and the live chat agent will update you once there is feedback from the escalation. Please keep an eye on the live chat and continue the service there for further updates. ˆLP

• 
  bec 🍳 (@eggstrom) reported 13 minutes ago

  @DanV_Art agree with this 💔 actual humiliation ritual to ask clients to open a binance acc or some **** like ZINLI bc stuff like cashapp isnt available here

• 
  Shanaka Anslem Perera ⚡ (@shanaka86) reported 17 minutes ago

  BitMEX once handled roughly 57% of all crypto derivatives trading. It now handles less than 0.01%. On 23rd September 2026 it shuts down for good. The contract it invented became a regulated American product 55 days before its creator announced its own death. This is not a bankruptcy. BitMEX says its assets exceed its liabilities and that it never lost customer funds to a hack in 11 years. It stopped mattering while the thing it built took over the market. That thing is the perpetual swap. A normal futures contract dies on a date. The perpetual replaces the date with a funding payment passed between longs and shorts every few hours, which keeps the contract tethered to spot. It does not remove the cost of time. It turns time into rent. Robert Shiller proposed an ancestor of this in 1992, perpetual claims settling against a cash-flow index, built for assets like housing whose prices were nearly impossible to observe. Crypto inverted the purpose. Shiller wanted a contract with no expiry because the underlying barely traded. Crypto perfected one because Bitcoin never stopped trading. BitMEX launched it in May 2016. The mechanism was public, so everyone copied it. CoinGecko counted 92.9 trillion dollars of perpetual turnover across the largest centralized and decentralized venues in 2025, though narrower trackers put it nearer 61.7 trillion, and turnover is not wealth because the same dollar trades repeatedly. None of that flowed back to the inventor. Kaiko estimates BitMEX now sees around 400,000 dollars of daily volume. Binance and OKX took roughly a third and a sixth of centralized perpetual volume. A sale process run from late 2024 seeking about a billion dollars found no buyer. The rent went to liquidity, distribution, balance sheets and regulatory access. Authorship was never the moat. Back in 2020 the CFTC charged BitMEX over offering derivatives to Americans without registration and over anti-money-laundering failures. It charged the venue's conduct, not the existence of the contract. Its founders pleaded guilty in 2022 and were pardoned last year. Then the contract changed legal species. In 2023 the CFTC treated Binance perpetuals as swaps. On 29th May this year they issued a formal order approving Kalshi's bitcoin perpetual as a futures contract, and opened a separate route letting Coinbase customers reach Deribit perpetuals as foreign futures, with bitcoin, ether and stablecoins eligible as margin under conditions. Crypto is no longer only the thing inside the derivative. It is collateral inside supervised derivatives plumbing. CME sued to overturn it, arguing these contracts are swaps under Dodd-Frank. Then CME did something stranger. On 24th July it moved its one-ounce gold future to 24-hour trading, and nearly 15,000 contracts worth about 60 million dollars changed hands over the first weekend. Kalshi has now applied to list perpetuals on gold, silver and platinum. Two different clocks are in play. One governs when a market may trade. The other governs whether a contract must ever mature. CME has surrendered the first and is fighting the second in federal court. That fight decides more than a classification. A dated future forces convergence at one terminal moment. A perpetual needs a trustworthy reference price at every funding interval, for as long as it lives, with no scheduled reset. BitMEX built a contract with no expiry date. The company got one anyway.

• 
  Macro Bombastic (@MacroBombastic) reported 18 minutes ago

  @CryptoMichNL summer chop is real but binance spot bid support holds

• 
  Signal_guy (@Cryptoprime00) reported 18 minutes ago

  As long as btc holds and chops tight, certain alts have the room to go and bounce off support. Very hard to call but just sitting back watching the PA. Binance $AVA/ $USDT Take-Profit target 3 ✅ Profit: 13.8571% 📈 Period: 8 Days 2 Hours 7 Minutes ⏰

• 
  Crypto Channel 24 (@CryptoChannel24) reported 19 minutes ago

  I've seen this divergence fire before. It always precedes a squeeze. 📊 $BTC whale inflows to Binance: $7B in June, collapsed to $3.9B. Down 44.3%. Retail? Still at $7.8B, down just 22%. Retail is depositing 2x what whales are. 🐋 When whales stop moving coins to exchanges, supply on the market dries up. 6-12 months: the last retail seller exits, exchange balances crater, and cold storage locks the bid side in place. I've charted this exact pattern twice. Both times, what followed wasn't gradual. #Bitcoin NFA

• 
  Christian (@ChrisJaaaaaaa) reported 20 minutes ago

  @giuseppe_maxims @AshCrypto Exchange centralization is an issue, but confusing Binance with BTC protocol is a rookie mistake. Retail hasn't pumped this for years: cycles are driven by global liquidity and institutions accumulating while everyone is crying. Just a massive value redistribution. 🚀

• 
  Macro Bombastic (@MacroBombastic) reported 23 minutes ago

  @WatcherGuru slow movers in dc, binance keeps shipping anyway

• 
  Crypto Dark Lord (@cryptodarklord) reported 28 minutes ago

  @binance Good keep working, exchanges are shutting down, so Binance should something different to stay in the game

• 
  CW (@CW8900) reported 31 minutes ago

  Binance and OKX are rapidly increasing their net buying of $BTC following the decline. They have returned to a net buying state. They are making advantages by driving down the price and increasing their buying at lower prices. The groups currently shaking the market are Binance and OKX. On the other hand, Coinbase is not experiencing significant selling pressure.

• 
  Sir Mas 📚📝 (@preacher41551) reported 31 minutes ago

  @binance Binance was good until @cz_binance left the role of CEO,now every garbage finds its way to Binance.

• 
  Arslan (@_E_T_F_) reported 32 minutes ago

  I used to think a crypto app was only for trading. That idea has changed. A financial super app brings multiple services into one place, so you don’t have to switch between different apps throughout the day. With Binance, you can trade, convert, use Simple Earn, make payments with Binance Pay, access P2P, manage assets in Wallet, explore Web3, and learn through Square and Academy, all from one ecosystem. For me, the biggest advantage isn’t having more features. It’s having everything connected in one app, making digital finance simpler and more convenient. Always DYOR 🤝 #Binance #BinanceAcademy #LearnWithBinance

• 
  MEGA ETH MOTO (@NoNAME00264254) reported 34 minutes ago

  The fire sale of a life time. Future trillionairs in the making! Let's break it down! @megaeth @hotpot_dao If a real-time, 10ms-block-time Layer 2 like MegaETH succeeds at scale—overcoming the steep post-launch distribution headwinds that plague high-throughput chains—the ripple effects would reach far beyond crypto market caps. A "huge win" for MegaETH wouldn't just mean a higher token valuation; it would mark a fundamental shift in how software architects, Web2 giants, and institutional markets think about decentralized execution. Here is what that victory would look like across the broader technology landscape. 1. The Erasure of the "Web2 vs. Web3 Performance Gap" Historically, Web3 applications have accepted a massive latency tax in exchange for decentralization and composability. * The New Baseline: At sub-10ms block times and tens of thousands of real transactions per second (TPS), the user-perceived performance gap between centralized cloud infrastructure (AWS/GCP) and decentralized execution vanishes. * Web2 Consumer UX: App interfaces would no longer require "confirming transaction..." loading spinners, wallet pop-ups for every state change, or artificial delays. Interacting with a smart contract feels identical to tapping "Like" on Instagram or placing an order on Uber Eats. 2. Micro-Colocation and "Proximity Markets" Become Standard Architecture One of the most radical shifts would be the commercialization of on-chain proximity infrastructure. * Today, high-frequency trading (HFT) firms pay millions to place servers in the same New Jersey data centers as NASDAQ or the NYSE. * A MegaETH victory validates the concept of bidding native tokens for physical co-location near a specialized node/sequencer. * This introduces a brand-new Web3 revenue engine: monetization of physical sub-millisecond network proximity for algorithmic traders, arbitrage bots, and real-time AI agents. 3. On-Chain Financial Infrastructure Fully Replaces Wall Street Centralized Order Books Legacy exchanges (like Cboe, CME, and Nasdaq) rely on off-chain matching engines because existing Blockchains are too slow for order-book matching engines, forcing crypto to rely on Automated Market Makers (AMMs). * Order Books over AMMs: A ultra-low latency chain allows fully on-chain Central Limit Order Books (CLOBs) to handle high-frequency order cancels, updates, and matches without clogging the network. * Institutional Migration: Traditional market makers and prop desks move actual matching operations on-chain rather than relying on centralized intermediaries (like Binance or Coinbase) for execution speed. 4. Real-Time Autonomous AI Agents Get "Self-Sustaining" Rails The tech industry is currently bottlenecked on how AI agents perform micro-transactions autonomously. * Instant Settlement for AI: If an AI agent needs to pay another AI agent $0.001 to process an image, parse a dataset, or rent 100ms of GPU power, current chains are either too expensive or too slow. * Agent-to-Agent Micro-Economies: Ultra-fast, low-cost execution allows autonomous agents to hold balance sheets, execute sub-second arbitrage, and run autonomous economic loops without human intervention. 5. Shift from "App Chains" Back to Shared Real-Time Composability For years, the consensus solution to throughput limits was building specialized, isolated application chains (AppChains). * Composability Wins: If MegaETH proves a single general-purpose state machine can process real-time workloads without collapsing under state-bloat, the industry pivot toward fragmented AppChains halts. * Developers regain "atomic composability"—the ability for a game, a credit protocol, a DEX, and a yield vault to seamlessly interact in a single block without cross-chain bridges. 6. It rewrites the venture playbook for open-source protocol launches: * Alignment: Networks are forced to treat token emissions like milestone-based corporate equity unlocks—tied strictly to verifiable revenue metrics.

• 
  That Martini Guy ₿ (@MartiniGuyYT) reported 35 minutes ago

  BITCOIN LEVERAGE IS BEING FLUSHED. Bitcoin’s recent pullback looks different from previous sell-offs. The reason? Open interest is falling alongside price. Total Bitcoin open interest now sits at: 749.32K BTC $47.42B in open positions Down 1.79% over the last 24 hours. This tells us one important thing: Traders are reducing risk. We’re not seeing aggressive new shorts piling in. We’re not seeing leverage building into weakness. Instead, positions are being closed. That’s a healthier type of correction. Exchange data shows the same: CME open interest: -3.30% Binance: -0.80% Bybit: -2.85% Leverage is coming out of the market. The only notable exception is OKX, where open interest increased 1.17%. This lines up with what we saw in the liquidation heatmaps. A lot of downside liquidity around $63,000 has already been cleared. The market has already forced out a large amount of overleveraged positioning. Now the question becomes: Do buyers step in after the reset? What I want to see next: • Bitcoin holding above $63,000 • Open interest rebuilding alongside price • Funding staying controlled That would suggest real demand returning. The risk scenario: Bitcoin continues lower while open interest starts rising. That would show traders are opening new positions into weakness, increasing the chance of more volatility. For now, this looks less like a market breakdown and more like a leverage reset. Bitcoin doesn’t need more leverage right now. It needs buyers to step back in.

• 
  tech-melon (@0xTechMelon) reported 36 minutes ago

  🔶 Binance 🔧 Maintenance Updates Binance Will Discontinue Mainnet Support of Sophon (SOPH) Time: 2026-07-28 11:30:08 #Binance #BinanceNews

• 
  Ryouu (@OzturkHasa) reported 37 minutes ago

  Idk what ******** going on why all whale waiting for pump whenever they pump %10-30 and next always dump depper so if you dont give people anything if you dont give us **** this wont work without us… #binance #coinbase #Crypto

• 
  LadyChain (@brigitatheres) reported 38 minutes ago

  The next billion investors are not coming from Wall Street. They are already here. And they are not buying what traditional finance expected. Here is what the data actually shows. 🔽 WHO THEY ARE → Located in Lagos · Jakarta · Buenos Aires · Karachi · Ho Chi Minh City → Age 18–35, mobile-first, smartphone before bank account → Living in economies where local currency has lost significant value — not as theory, but as lived experience → 77% of Binance's 300M users are from emerging markets They are not looking for the 11th brokerage app. They need: ✅ A stable store of value ✅ Cross-border transfers without losing 6% in fees ✅ Access to investments their local financial system never offered WHAT THEY ARE BUYING (it's not what you think) #1 — Stablecoins Not bitcoin. Dollar-denominated stablecoins. In Argentina, Nigeria, and Turkey — stablecoins are savings accounts, not trading tools. → Stablecoin holders on Binance: 28% of users with $10+ balance (up from 4% in 2020) → In emerging markets specifically: 36% → Brazil: stablecoins = up to 90% of total crypto volume Driven by savings demand. Not speculation. #2 — Bitcoin (as savings, not gambling) When they buy BTC, they hold it. The same way a previous generation bought gold — as a long-term hedge against currency debasement, not a short-term trade. Average position size: small. Frequency: regular. Time horizon: long. #3 — U.S. Equities (through crypto rails) Binance Stocks launched June 2026 and immediately revealed the demand: Top names: NVDA · AAPL · GOOGL · QQQ → 39% of orders below $100 — small, regular, portfolio-building behavior → 25% of first-week users were under 25 → 1,100+ different stocks traded in week one These users did not discover markets through a brokerage. They discovered them through crypto. HOW THEY ONBOARD What works for this user base: → $5 minimums — not marketing, it reflects actual available capital → Stablecoin funding — no bank wire needed to buy U.S. stocks → Single platform — they will not manage 5 separate accounts → Trust signals — Proof of Reserves matters when $50 is a significant financial decision relative to income WHAT THEIR PORTFOLIO LOOKS LIKE Not a Western retirement account. A resilience portfolio: 💵 Stablecoins — savings and inflation hedge ₿ Bitcoin — long-term value storage 📊 U.S. equities — growth exposure 💰 Earn products — yield on idle assets Built from a smartphone. Starting with $5. Available 24/7. THE CONCLUSION The next billion investors are not a scaled-down version of Western investors. They are a new archetype — shaped by inflation, currency volatility, limited banking access, and mobile-native habits. The financial behaviors being pioneered in Lagos and Jakarta today have a way of looking prescient in a decade. They did not wait for traditional finance to include them. They already found another way in. Educational purposes only. Not financial advice. All investing involves risk. DYOR.

• 
  Arthur (@Arthurepxz) reported 38 minutes ago

  @rialto_xyz I would never try a project that doesn't issue a token. Even giants like Binance with ETH issue their own platform tokens to attract users and whales. You guys are really unprofessional.

• 
  2xnmore (@2xnmore) reported 43 minutes ago

  The blockchain purists are not going to like this. Ondo just built the next chapter of real world assets by taking execution off the blockchain. Not onto a faster chain. Off it completely. And once you understand why, you understand where this entire sector is heading. Here is what they actually announced, in plain words. Ondo launched the Ondo Network, which they call the execution layer for financial markets. Fast and private like Binance. Verifiable like a blockchain. Non custodial, so you always keep control of your own funds. The first product already live on it is Ondo Perps, their high performance perpetual futures platform. Now here is the uncomfortable part, and they are being honest about it. For over a year they hyped Ondo Chain, a full blockchain built for Wall Street. Then, while building Perps, they hit a wall. The blockchain itself was the bottleneck. Too slow. Too public. Serious traders would never accept it. So instead of forcing it, they split the job into three separate pieces. This is the part worth saving. How the Ondo Network actually works: Execution runs inside secure private hardware called enclaves. This is where the trades and the math happen. It is fast and private, exactly like a top tier exchange. Independent checkers called attestors verify that every trade ran honestly. You get the trust of a blockchain without putting your entire order flow on public display. Public blockchains handle only the final settlement of money and assets. Right now that is Ethereum, with more chains coming. This is the step that keeps custody in your hands, not theirs. Read that structure back slowly. They kept the speed and privacy of a centralized exchange, and the verifiability and self custody of a blockchain, and they refused to give up either one. That is the exact trade off every crypto project swears is impossible. Ondo just engineered around it. And this is the mistake most people will make today. They will call this a retreat. A project that promised a blockchain and quietly backed down. It is the opposite. This is the second largest issuer of tokenized Treasuries on earth deciding that ideology does not pay the bills, and shipping the thing that actually works for real markets. Perps is only the opening move. The same network is built to carry spot markets, lending, structured products, and more. One more thing holders keep asking. The ONDO token keeps its exact same role as the governance and incentive token of the ecosystem. Nothing there changed. So here is the verdict. The projects still chasing the perfect fully decentralised chain are building for a whitepaper. Ondo is building for the trading desk. Only one of those gets used by real money. You already know which. Tell me I am wrong.

• 
  Djani (@DjaniWhaleSkul) reported 44 minutes ago

  Daily Market Report #808 It is Monday, and Ethereum is doing the thing. ETH $1,952, up 3.6%, right at $2,000 and leading everything. The shorts got wiped out. $85.5M of the $91.9M in ETH liquidations were shorts. ETH dominance is back to 10.2%. Bitcoin $65,230, up 1.2%. SOL $76.27. XRP $1.11. Fear & Greed at 30. The reason is the war cooling. The US and Iran halted strikes, oil slumped from $90 to $84.75, and Polymarket now puts the odds of a ceasefire by August 31 at 70%. Iran says a tanker exploded on a mine in Hormuz and is accusing Ukraine of attacking one of its ships, so it is not entirely clean, but the strikes stopped, and that is what the market traded. The Fed decides on Tuesday and Wednesday. PCE lands this week, and Big Tech reports. Three things that can each move the tape, all within the same 4 days. The pressure on the Fed is now to hike, not cut, with price risks growing. Gold $4,090. Silver $59.34. The 10-year still at 4.71%. And a stat worth sitting with: the S&P 500, measured against M2, is now at its dot-com bubble peak. The ETF flows are telling 2 different stories. BTC ETFs lost $240M, and BlackRock clients dumped $212M of BTC and $53M of ETH. But ETH ETFs just logged a third straight week of inflows, and Wall Street has rotated $290M out of the HYPE ETF into Ethereum ETFs over the past 3 weeks. Money is not leaving crypto. It is moving from Bitcoin and Hyperliquid into Ethereum. Which explains HYPE. It is down 22% from its $73 peak on ETF outflows and fading buybacks, sitting at $60.18 today after a 2.8% bounce. The buyback that was supposed to support it is not keeping up with the redemptions. Zcash Ironwood activates on mainnet tomorrow. That is the upgrade behind the whole run I have been tracking for a month, the counterfeit-proof work that came out of the Orchard bug. ZEC $503, up 2.8%, back over $500 going into it. This is the one I am watching most this week. Monero $353, down 2.9%, its second red day after the run. LINK $8.77, up 3.8%, and a whale pulled 467,180 LINK worth $3.94M off Binance in 13 hours. TAO $199. STRK up 4.2%. BORG $0.1461, down 2.9%. Robinhood Chain now has more RWA holders than Solana, and its tokenized stocks went 5x to $70M. That is the thesis I bought ARB for actually working, except ARB is at $0.0820 and down again. The chain wins. The token does not. Strategy is deeply underwater. It holds 843,775 BTC at an average cost reportedly above $75,000, with Bitcoin at $65,230. Saylor is hinting at another purchase and launched an MSTR-BTC dashboard. Kalshi traders put 57% odds on Bitcoin dipping below $55K this year. The failures keep stacking. 99 crypto projects have failed in 2026 so far. Triple-A, a crypto payment company, got drained for $11.8M across Ethereum, Bitcoin, TRON, and Solana, and customer deposits reportedly kept flowing into the compromised wallets after the attack. WEMIX suspended its bridges after an attacker minted 5.23M tokens. Storj filed for Chapter 11. BitMart is shutting down, right after BitMEX. Aptos TVL fell 43% in a week. Circle bought nearly 1,000 blockchain and payment patents from IBM. Buying up the patent estate while everyone fights over stablecoin rules is a quiet, serious move. AI is where the numbers stop making sense. Nvidia is in talks to backstop $250B of OpenAI's financing for a 10GW data centre in Ohio. Nvidia and SK launched a $500B+ AI infrastructure partnership, and SK will supply $750B in chips to US tech firms. A quarter of a trillion in credit backstop for one campus. Meanwhile, Sacks says Anthropic is strongly opposing open-source AI, Hugging Face is asking for transparency after the OpenAI containment breach, and Musk says money will not matter by 2036. Ironwood going live tomorrow is the thing I actually care about this week, more than the Fed. What are you watching?

• 
  Teh Fund (@TehFund) reported 44 minutes ago

  I got the $QOMX launchpad working on Binance smart chain. Tomorrow I’ll finish the IEO and add liquidity to the pool on the Alpha Dex and open trading on the CEX.

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  Christian Brumloop (@Chrispy303) reported 50 minutes ago

  @kuphobe @Cointelegraph I sent my Algorand to Binance and had to go to funding in my binance app and say where the tokens are coming from. Sent the other half of my Algorand to a wallet but that is not processed the wallet does not have the funding option like binance.Did contact support but no response

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  𝐌𝐚𝐱𝐢𝐂𝐚𝐥𝐥𝐬 (@MaxiCalls) reported 59 minutes ago

  BitMEX and BitMart are shutting down but the market is not showing the broad exchange exodus seen during previous crises. The chart actually shows total Bitcoin reserves across spot exchanges falling from roughly 1.200M BTC to 1.195M BTC since July 12, despite a brief spike in between. That suggests part of the capital may be moving into self-custody while separate flows appear to be consolidating around larger platforms such as Binance and OKX. The important point is not that confidence in centralized exchanges has fully returned. Investors are becoming more selective about where they take counterparty risk. Crypto may be holding up but growing concentration on a few major exchanges creates a different risk that should not be ignored. For informational purposes only.