Nansen: over the past 24 hours, around $1B in ether, $950M in USDC, $400M in tether, and $195M in BUSD have been withdrawn from exchanges
The BlockAdam James
Context & Ripple Effects
This November 9 snapshot from [[a:nansen|Nansen]] captures the moment exchange counterparty risk went mainstream: within 24 hours, users pulled roughly $2.5B combined in ether, USDC, tether and BUSD off centralized venues. It is the opening data point in an outflow arc the coverage keeps returning to.
The trend: Crypto capital is migrating from exchange custody to self-custody at every stress event, with on-chain analytics replacing audits as the market's real-time trust mechanism.
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