The Diplomatic Playbook
On-chain data shared by CryptoQuant confirms the turnaround. It found that Binance’s share of total Bitcoin outflows among all exchanges, which had slumped below 25% during the regulatory crackdown of late 2024, has steadily recovered to nearly 40% by September 2025.
The report found that the surge in capital inflows closely aligns with the company’s diplomatic moves, including meetings with the US Treasury, policy proposals in Hong Kong, and more.
While US regulators have yet to grant formal relief, Binance’s push for eased anti‑money‑laundering monitoring requirements has been widely viewed as a signal of regulatory normalization. Similar efforts in Asia have boosted the trend, as CZ made an appearance at WebX Tokyo 2025 and his interviews in Hong Kong highlighted his call for faster legislative frameworks.
These moves coincided with a surge in stablecoin deposits and derivatives trading, which are very important indicators of restored user trust. As such, Binance’s narrative appears to have shifted from one of survival to resurgence, recasting the crypto exchange as both “compliant and innovative.”
Binance Dominates Q3 Inflows
These efforts have also helped Binance to once again secure its dominance in the centralized exchange sector after recording a staggering $14.8 billion net inflow in Q3 2025. The surge was primarily fueled by strong stablecoin deposits. The strong inflows of stablecoins, which are often seen as deployable “dry powder,” indicate investor readiness to allocate funds across assets like Bitcoin, Ethereum, and BNB.
On the other hand, rivals struggled to keep pace as OKX reported just $1.61 billion in inflows, while Bybit saw $1.33 billion during the same period.