Multiple coins and tokens listed on Binance.US, a subsidiary of US-based cryptocurrency exchange Binance, began trading at a premium from their fair value on June 7. Bitcoin and other currencies and ether. The prices are $27,445 and $1,911, respectively, compared ed ed ed with CoinMarketCap averages of $26,490 and $1,850.
At the same time, stablecoin tokens such as Tether and USDC broke par, trading at $1.03 and $1.04, respectively. On the same day, Binance.US delisted more than a dozen USDT-based trading pairs, suspended its OTC trading portal, and limited its buy, sell and convert services to a maximum transaction amount of $10,000. Additionally, Binance.US wire deposits are stated as "temporarily unavailable," while withdrawals are "working normally," according to its support page. However, the exchange also said that debit cards, Apple Pay and Google Pay, among other payment methods in US dollars, are also temporarily available to some users due to a “channel switch.”
In addition to the funding issue, the US Securities and Exchange Commission's (SEC) emergency motion to freeze Binance. US' assets and repatriate funds held by US customers has also piqued investor interest. In response, Binance staff wrote:
"User assets remain safe, the platform continues to be fully operational, and deposits and withdrawals function as normal." On June 5, the SEC sued Binance, accusing it of operating an unregistered exchange in the United States and selling unregistered securities.com mittee also accused the exchange of "mixing" and "diverting" investors' funds. Binance CEO Changpeng Zhao received a civil subpoena on June 7 in response to the allegations.
