⚠️ BinanceUS is suspending $USD deposits! Amid the ongoing SECGov lawsuit, the company's banking partners have started to distance themselves from the potential fallout. Read more here -
Following Monday’s announcement of lawsuits against Coinbase and Binance, firms both inside and outside of the crypto industry have started polarizing.
The civil lawsuit filed against Binance – which the SEC claims is the real beneficiary of Binance.US – has not yet begun. However, companies with exposure to the situation have started taking steps to secure their balance sheets.
We are disheartened by that choice. While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously.” Unfortunately for Binance, the fact that they are now involved in litigation has proven too much for skittish banking representatives, who have started to “put on hold” their relationships with the crypto trading giant.In a statement published on Twitter by Binance.US, the platform announced that due to banking partners pulling out of deals with them, fiat withdrawals would be suspended from the 13th of June until a later date.
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