The spread of Bitcoin on BinanceUS, the American affiliate of the crypto exchange giant, has increased significantly. Compared to Coinbase and Kraken, the BTC spreads against USDT and USD have more than tripled within the past week. According to crypto data firm Kaiko, BinanceUS's BTC spread is now 20 times wider than its competitors. This activity may be due to users selling off their BTC after the Securities and Exchange Commission filed a lawsuit against Binance, Binance US, and Binance CEO Changpeng Zhao. As a result, BinanceUS has announced the delisting of over 100 trading pairs and paused its OTC Trading Portal, as well as pausing USD deposits ahead of an expected freeze on dollar payments services from its bank partners.
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