Investors pull $2.5 billion in days from Binance's stablecoin on regulatory scrutiny

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

SINGAPORE (Reuters) - About $2.5 billion flowed out from Binance's stablecoin this week, Binance's CEO said on Twitter, after U.S. regulators turned their sights on the cryptocurrency.

Most of the money has moved from Binance USD into Tether, another so-called stablecoin where tokens have a $1 value, Binance boss Changpeng Zhao said on Twitter. "Landscape is shifting," he said.