Binance.US to pause OTC Trading Portal, delist some trading pairs after SEC suit

Companies • June 7, 2023, 12:42PM EDT
UPDATED: June 7, 2023, 12:48PM EDT
The Block

Quick Take

  • Binance.US will delist about a third of its current trading pairs
  • The firm will also pause its OTC Trading Portal.
  • The move comes two days after the SEC sued Binance. 

Binance.US, the U.S. entity of crypto exchange Binance, will delist around 100 trading pairs on June 8. That's nearly a third of its current trading pairs.

The exchange said it will also pause its OTC Trading Portal, an "over-the-counter" trading system that lets buyers and sellers trade without using a public order book.

The move comes after the U.S. Securities and Exchange Commission sued Binance on June 5, alleging that the firm engaged in violations that should bar it and CEO Changpeng 'CZ' Zhao from further business operations in the U.S. 

The affected trading pairs include FLOW/USDT, APE/USDT, MANA/BTC and others.

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"Your assets remain safe and secure with Binance.US, and deposits and withdrawals continue to function as normal," the company said. 

 


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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