Read crypto exchange news, listing updates, security incidents, trading volume shifts, and platform strategy across global markets.
An SEC official alleged Binance commingled funds in bank accounts that was used to send Paxos nearly $20 billion in 2021.
Altcoin holders on Binance.US, however, seem more nervous.
Blockchain data shows that Binance US users withdrawal rate increased after SEC moved to freeze the exhange assets.
Two US senators criticized the SEC's lawsuit against Coinbase, accusing the regulator harming consumers.
"There is no path to 'come in and register,'" the embattled CEO tweeted; "We tried."
Law firm Gresham International said US unfavorable regulatory environment has shown that "crypto is not welcome."
Coinbase stock, alongside several crypto-related stocks, have seen their values crash following the SEC's new lawsuit.
The SEC's actions against industry giants has pushed traders to decentralized alternatives.
The regulator has come for Coinbase a day after filing suit against Binance.
