{"id":84648,"date":"2023-09-18T16:56:40","date_gmt":"2023-09-18T13:56:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84648"},"modified":"2025-09-12T18:39:30","modified_gmt":"2025-09-12T15:39:30","slug":"binance-us-trading-volume-sinks-amid-sec-dispute","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-us-trading-volume-sinks-amid-sec-dispute\/","title":{"rendered":"Binance.US trading volume sinks amid SEC dispute"},"content":{"rendered":"<p>On September 16, Binance&#8217;s U.S. unit saw trading volume dip to $5.1 million amid<a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-chief-executive-leaves-company-amid-layoffs\"> restructuring and the departure<\/a> of CEO Brian Schroeder following allegations by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. For comparison, a year ago the figure stood at $230 million, according to<a href=\"https:\/\/cointelegraph.com\/news\/binanceus-exchange-volume-slumps-amidst-crisis\"> Cointelegraph<\/a>.<\/p>\n<p>The month&#8217;s low of $2.97 million was reached on September 9.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-624.webp\" alt=\"image-624\" class=\"wp-image-216082\"\/><figcaption class=\"wp-element-caption\">Data: Amberdata, Cointelegraph.<\/figcaption><\/figure>\n<\/div>\n<p>On June 5, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">filed a lawsuit<\/a> against Binance and its CEO Changpeng Zhao. The commission brought 13 charges, including the sale of unregistered securities. <\/p>\n<p>On June 6, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-seeks-to-freeze-assets-held-by-binance-us\">filed a motion<\/a> to freeze the digital assets of the exchange&#8217;s U.S. unit.<\/p>\n<p>On June 9, users <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-to-suspend-usd-deposits\">lost the ability to deposit<\/a> dollars, triggering sales by those wishing to withdraw funds in fiat. Against this backdrop, on the platform <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-trades-at-a-discount-on-binance-us\">a discount<\/a> in the Bitcoin quotes against the dollar \u2014 the figure reached about $2,200 (7.3%).<\/p>\n<p>On June 17, the SEC and Binance <a href=\"https:\/\/u1f987.com\/en\/news\/sec-and-binance-strike-deal-over-customer-assets-in-the-united-states\">reached an agreement<\/a> on customer funds in the U.S. The exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-unfreezes-withdrawals-for-the-near-future\">resumed<\/a> withdrawals, though the company warned that the situation could change. <\/p>\n<p>In September, following Schroeder, the branch <a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-the-departures-of-two-top-binance-us-executives\">saw the departure<\/a> of the heads of the legal department Krishna Juvwadi and the risk department Sydney Majjali, according to WSJ.<\/p>\n<p>Later, the SEC<a href=\"https:\/\/u1f987.com\/en\/news\/sec-accuses-binance-us-of-unwillingness-to-cooperate\"> accused<\/a> Binance.US of unwillingness to cooperate. According to the regulator, the platform&#8217;s actions violate the agreements between the parties regarding a ban on withdrawals of funds abroad.<\/p>\n<p>As previously noted, according to an internal presentation, <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-outlook-remains-murky-until-cz-sells-his-stake-sources-say\">growth prospects for Binance.US are limited<\/a> due to ties between the business and Zhao and the current regulatory environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 16, Binance&#8217;s U.S. trading volume fell to $5.1 million amid restructuring and the departure of CEO Brian Schroeder following allegations by the SEC.<\/p>\n","protected":false},"author":1,"featured_media":84649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,83,1166,36,26],"class_list":["post-84648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-business","tag-centralized-exchanges-cex","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=84648"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84648\/revisions"}],"predecessor-version":[{"id":84650,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84648\/revisions\/84650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/84649"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=84648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=84648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=84648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}