Woofun AI reports that Binance recorded over $400 million in net outflows during the week beginning June 22, coinciding with the exchange's announcement to withdraw its Markets in Crypto-Assets Regulation (MiCA) license application in Greece. This seven-day net outflow represents 0.3% of the exchange's $133.3 billion in tracked assets, or 0.35% of its $113.8 billion in crypto assets when excluding BNB. The capital exodus accelerated on Wednesday following the withdrawal notice, with daily net outflows reaching $1.96 billion, followed by $2.52 billion and $1.46 billion in the subsequent two days.

While such volume is consistent with Binance's regular daily flow patterns, the timing aligns with the final week before the European Union's MiCA transition deadline. Starting July 1, the exchange will restrict onboarding and specific services for affected EU users, prompting several rivals to court displaced clients. OKX, which secured MiCA authorization in Malta in January 2025, recorded $285.5 million in net inflows over the same period.

However, OKX ranked third in weekly inflows, trailing Bitget's $710 million and Bitfinex's $400 million, neither of which currently appear on the European Securities and Markets Authority's interim MiCA register.

CryptoQuant analyst Maartunn noted that euro trading accounts for just 1% of Binance's spot volume, suggesting limited operational impact from MiCA-related setbacks. Despite this, Binance co-founder Yi He stated on Friday that the company remains committed to the EU market and intends to continue pursuing a MiCA license even while missing the July 1 deadline. Per Woofun AI, the exchange has begun advising some EU users to transfer funds to self-custodial wallets or other platforms, though a representative clarified that restrictions vary by jurisdiction and no action is needed for users not served through a local registered entity.

The European Securities and Markets Authority issued a June 23 statement mandating that unlicensed crypto service providers take immediate steps to wind down EU activities by July 1. Regulators require these entities to limit services strictly to actions allowing users to sell, transfer, relocate assets, or close positions. This regulatory pressure marks a critical juncture for major exchanges navigating the bloc's new compliance framework.