Crypto firm Binance says deposits returning after heavy withdrawals

FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON/SINGAPORE (Reuters) -The head of major crypto exchange Binance said on Wednesday deposits were returning, a day after it saw heavy outflows of cryptocurrencies and halted some stablecoin withdrawals.

On Tuesday, blockchain data firm Nansen said Binance saw withdrawals of $1.9 billion in 24 hours, the largest such outflow since June. Users had pulled out $3.7 billion in crypto over the seven days to Tuesday, it later added.