Binance US Delists 101 Trading Pairs Following SEC Freezing Order

Binance’s U.S. subsidiary announced the removal of implicit 100 precocious trading pairs connected Wednesday and paused its OTC trading portal pursuing ineligible unit from the SEC to frost its assets earlier this week.

Some of the targeted pairs see AAVE/USDT, COMP/USDT, EOS/USDT, and BCH/BTC. 

Binance US Legal Trouble

Binance US did not specify wherefore the abrupt brace removals were necessary, but assured users that their assets “remain safe” connected the platform. The enactment volition instrumentality effect astatine 12 p.m. EDT connected June 8, and deposits and withdrawals volition proceed to process normally.

Source: Binance US

The alteration brings the platform’s supported “convert” trading pairs down to 226. Buy, sell, and person options stay disposable for astir apical cryptocurrencies by marketplace capitalization, including BTC, ETH, USDT, USDC, DOGE, and others.

The speech made nary denotation that it plans to bring specified trading pairs back. While its OTC table is presently “paused,” the steadfast said it volition notify users erstwhile it’s disposable again “In the upcoming weeks and months.”

The Securities and Exchange Commission launched a restraining order against Binance US connected Tuesday to frost its assets, conscionable 1 time aft the bureau launched its 136-page suit against the speech and its planetary genitor company.

The speech was besides ordered to repatriate customers for each fiat currency and integer assets held connected the Binance US level wrong 10 days of receiving the restraining order. That included assets related to its staking-as-a-service program, for the SEC, which targeted Coinbase’s equivalent programme the aforesaid day. 

Commingling of Funds?

The filing placed peculiar accent connected placing each lawsuit assets backmost nether the power of Binance US that are different being controlled by either Binance oregon its CEO Changpeng Zhao. While Binance and Binance US are expected to beryllium autarkic entities, the SEC’s suit connected Monday alleged that billions of dollars from some platforms had been “commingled” wrong a Zhao-owned entity called Merit Peak Limited. 

“Within 5 days of this Restraining Order, Defendants will… region Defendant Binance, Defendant Zhao, and immoderate of the Binance Entities arsenic a signatory oregon authorized idiosyncratic to transportation oregon retreat assets from each accounts and/or wallets containing Customer Assets,” work the filing. Within 30 days, each lawsuit funds indispensable beryllium held successful wallets controlled by caller backstage keys and administrative keys.