Binance’s departure from the European Union is reaching unprecedented proportions. According to data compiled by CoinTelegraph, the platform is now recording over 00 million in net outflows each week since announcing the failure to obtain a MiCA license. The exodus of European users is accelerating as the June 30 deadline approaches.
Coinbase and OKX, Binance’s main competitors in Europe, have intensified their offers to attract disappointed users. According to CoinDesk, both platforms are offering reduced fees and migration programs. “We have seen a 40% increase in new registrations from France and Germany over the past two weeks,” a source at OKX confides.
Changpeng Zhao, Binance’s founder, delivered a surprising analysis of the market’s difficulties. In an interview reported by CoinDesk, CZ attributes the slump to three factors: the rise of artificial intelligence diverting capital and developer attention, global geopolitical tensions, and the natural end of Bitcoin’s four-year cycle.
“CZ is right on one point,” analyzes a market observer. “AI has siphoned off some of the liquidity that could have gone to crypto. The VC funds that financed crypto startups in 2021-2022 are now oriented toward generative AI. But pointing the finger at AI also means ignoring Binance’s own structural problems.”
The MiCA regulation, progressively implemented since 2025, requires crypto platforms to hold a license in at least one member state to operate across the EU. Binance has failed to convince authorities of the robustness of its compliance framework, despite approaches to several national regulators.
Some of the capital leaving Binance appears to be exiting the European crypto ecosystem entirely, as evidenced by the historically low Fear & Greed index at 12/100.
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