Bitcoin Liquidity Worsens on Crypto Exchange Binance.US After SEC Suit
- Bitcoin bid-and-ask depth on Binance.US has fallen, Kaiko says
- SEC sued Binance and Coinbase, turning heads in the industry
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Liquidity on one of the most prominent crypto exchanges has worsened in the wake of head-turning regulatory actions by US officials.
Bitcoin bid-and-ask depth on Binance.US — the exchange owned by Binance Holding Ltd.’s Changpeng Zhao to serve US clients — has fallen off dramatically, according to researcher Kaiko. That happened after the US Securities and Exchange Commission accused Binance and its chief executive of mishandling customer funds, misleading investors and regulators, and breaking securities rules. Binance has disputed the allegations.