LONDONSINGAPORE, Dec 14 Reuters The head of major crypto exchange Binance said on Wednesday deposits were returning, a day after it saw heavy outflows of cryptocurrencies and halted some stablecoin withdrawals.

On Tuesday, blockchain data firm Nansen said Binance saw withdrawals of 1.9 billion in 24 hours, the largest such outflow since June. Users had pulled out 3.7 billion in crypto over the seven days to Tuesday, it later added.

Binance also temporarily halted withdrawals of the major USDC stablecoin, citing a socalled token swap.

Things seem to have stabilised, CEO Changpeng Zhao wrote in a tweet. Yesterday was not the highest withdrawals we processed, not even top 5.

How crypto exchanges such as Binance and its nowbankrupt former rival FTX handle customer deposits has come under close scrutiny from users, regulators and policymakers.

Binance said on Tuesday it always had more than enough funds to meet withdrawal requests. User assets at Binance are all backed 11 and Binance39;s capital structure is debt free, a spokesperson said.

The exchange is also facing legal pressures. Splits between U.S. Department of Justice prosecutors are delaying the conclusion of a longrunning criminal investigation focused on Binance39;s compliance with U.S. antimoney laundering laws and sanctions, Reuters reported on Monday, sparking a 4 drop in Binance39;s own BNB token.

Nansen CEO Alex Svanevik told CNBC that the reporting had lead to concern in the market with investors…