Glassnode released a report analyzing the behavior of investors after the SEC sued Binance and Coinbase. The report noted an increase in short-term holders depositing their balances onto exchanges. Binance experienced a significant decrease in Bitcoin, Ethereum, and stablecoin balances, while Coinbase saw smaller withdrawals in Bitcoin but larger withdrawals in Ethereum.

The top two issuers in the stablecoin ecosystem are experiencing a divergence due to America's crackdown on crypto. Tether's supply has reached an all-time high of 83.36 billion USDT, while Circle's USDC has seen a decline in demand and market share.

A significant milestone for the crypto market was reached when a whale deposited 25,000 ETH (worth $43 million) into the Aave platform and borrowed 35 million USDT. The same whale may have also deposited 35 million USDT into Binance, highlighting the exchange's growing importance in the crypto ecosystem.

Last week, the U.S. Securities and Exchange Commission filed lawsuits against Binance and Coinbase, causing a drop in prices for all assets. However, Bitcoin and Ethereum have since rallied, with Bitcoin up 2.75% on the five-day window and Ethereum experiencing a 5% intraday gain.

According to Professor Carol Alexander of the University of Essex, the U.S. Securities and Exchange Commission (SEC) may not be financially strong enough to win its lawsuit against Binance. However, she also emphasized the importance of proper regulation in the cryptocurrency industry to prevent fraudulent activities.

Investors are withdrawing from Binance and its US-based sister company following their recent troubles with American regulators. Market depth on the US sister exchange has dropped by almost 80% since the US Securities and Exchange Commission (SEC) filed a lawsuit against both companies last week.

Binance has suspended trading for several Binance Coin (BNB) and Ethereum (ETH) token pairs, including its native BNB token and the defunct Binance USD (BUSD) stablecoin, following its recent lawsuit by the Securities and Exchange Commission (SEC).

Huobi recently held its mid-year conference to review progress and discuss plans for the second half of 2023. Despite a significant improvement in operational performance during Q2, Huobi and Poloniex's total on-chain assets equated to $4 billion, falling behind Binance and OKX.

Binance has made changes to its Terms of Use following charges by the SEC, which could affect all users of the exchange. The changes give Binance exclusive power over which digital assets are listed on the platform and the right to convert delisted assets into a new form of digital asset of its choice.

Binance, the leading cryptocurrency exchange, and its CEO Changpeng Zhao have hired former SEC and Department of Justice prosecutor George Canellos to their legal team, indicating that they are preparing for a significant legal battle.