Most funds leaving Binance in the EU went to self-custody, not rivals
After MiCA took full effect and
@binance pulled its Greek license bid, 70% of the EU funds withdrawn from the platform went to self-hosted wallets, and only 30% to MiCA-regulated exchanges, per co-CEO
@_RichardTeng.
Teng's argument is that MiCA pushed users toward less-supervised self-custody rather than the regulated venues it was built for.