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Binance.US coins trade at premium amid litigation fears, fiat gateway issues

June 7, 2023


On June 7, multiple coins and tokens listed on Binance.US, the United States subsidiary of cryptocurrency exchange Binance, began deviating from their fair value to trade at premiums. Coins such as Bitcoin and Ether were priced at $27,445 and $1,911, respectively, compared to CoinMarketCap averages of $26,490 and $1,850.

Meanwhile, stablecoin tokens such as Tether and USD Coin broke their par value to trade at $1.03 and $1.04, respectively. The same day, Binance.US removed over a dozen USDT-based trading pairs, paused its over-the-counter trading portal and limited the maximum trade amount of its buy, sell and convert services to $10,000.

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