What Binance’s $750 Million Weekly Outflows Could Signal Ahead of MiCA

Binance is starting to see a large amount of money leave its platform. This comes just days before the European crypto regulation takes effect. 

DefiLlama data showed that the exchange saw more than $750 million in net outflows in the week starting from June 22. This happened just after the exchange withdrew its application for a Markets in Crypto-Assets (MiCA) license in Greece.

The exchange has seen a net outflow of almost $400 million leave its platform over the past 24 hours alone. Some of its other notable outflows included $1.9 billion immediately after the announcement of its withdrawal. Then, $2.5 billion on the next day.

It is also worth noting that these outflows represent only about 0.3% of the exchange’s $132.5 billion in tracked assets.

Source: DeFiLlama

MiCA deadline creates pressure for Binance

Starting from July 1, the MiCA framework will require crypto companies to meet new licensing and compliance standards. Binance had initially submitted a bid, but it was rejected by the body.

In light of that, the company plans to limit some services and onboarding for certain EU users. The exchange has even begun telling customers that they may need to move assets to self-custody wallets or other exchanges.

Binance has said that it remains committed to its European customers, but in less than 48 hours, the firm is still expected to miss the deadline for full MiCA authorization. This explains why the market is seeing capital leaving at a remarkable pace.

Meanwhile, the European Securities and Markets Authority (ESMA) has reiterated that crypto firms without authorization should begin winding down operations

Rivals look to benefit from the exchange’s troubles

With the company facing these challenges, it opens the door for competitors to cash in. OKX, which had received its own MiCA authorization in Malta in 2025, saw $974 million in weekly net inflows during the same period. Bitget saw around $723 million and Bitfinex, $314 million in inflows. 

Source: DeFillama

The competition comes at a time when prediction markets, crypto trading, and digital asset services are becoming regulated across Europe.

However, Binance still maintains its lead over these companies. The company processed $7.3 trillion in spot trading volume last year and serves 300 million registered users. The firm has always looked to maintain compliance, according to data. In recent years, the exchange reportedly spent around $200 million annually on compliance efforts.

Is Europe that important for Binance?

Some experts have shared that Europe may not be as important to the company’s overall business as many investors think.

CryptoQuant analyst Maartunn shared in an analysis last week that the euro-denominated trading accounts for just 1% of Binance’s spot trading volume. 

Source: CryptoQuant

This means that even if the exchange closes in Europe, it would not have much impact on the broader scale.

However, company executives have repeatedly stated that the exchange is not leaving Europe and intends to continue pursuing its license. The coming weeks could reveal if the outflows were simply a short-term reaction to MiCA uncertainty or the start of a shift in the market share.