SEC Lawsuits Against Coinbase and Binance Cause Crypto Premiums and Pressure.
TL;DR
Bitcoin, Ether, and Tether's USDT stablecoin are trading at large premiums on Binance.US, indicating that investors are leaving the platform following the SEC's actions against the company. The SEC is seeking to freeze assets on the exchange, and the high price premium is a sign of deteriorating liquidity on the platform as traders are retreating in anticipation of a potential asset freeze. Binance.US has announced that it will remove several trading pairs and pause its over-the-counter trading service to concentrate liquidity to the remaining asset pairs and services.
- Bitcoin, Ether Trade at Premiums on Binance.US as Investors Flee Following SEC Actions CoinDesk
- SEC Sues Binance and Coinbase: What's Next for the Crypto Industry? | WSJ Wall Street Journal
- SEC sues Coinbase as pressure on crypto world rises Yahoo Finance
- SEC Crypto Lawsuits: Could Coinbase and Binance Ever Be Legal? Bloomberg
- SEC Hits Coinbase and Binance With Lawsuits: Will Crypto Ever Recover? Bloomberg
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