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Binance.US Lawsuit Causes 78% Drop in Market Depth for Top 25 Crypto Assets, Prompting Concerns for Liquidity and Exchange Survival

Following the Securities and Exchange Commission's lawsuit against Binance.US and CEO Changpeng Zhao on June 5, the top 25 crypto assets in the US have experienced a 78% loss in market depth. This has caused market makers to exit Binance.US, resulting in a significant drop in liquidity and raising concerns about the exchange's future.

The SEC accuses Binance.US of violating securities laws and seeks to halt its operations until it complies with regulations, which could impact the platform's operations and assets available for trade. The loss of market depth on Binance.US is expected to impact traders and investors who use the site for Bitcoin trading operations, potentially leading to more volatile prices and riskier market participation.

Bitcoin Bitcoin $96,363.70
-1.27%
Binance.US
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