US Court makes a critical decision for Binance exchange. Bitcoin and cryptocurrencies show a sharp decline.
Critical Decision for Binance from US Court!
According to the information received, the US court has decided to freeze the assets belonging to Binance US, which is the establishment of Binance in America. The decision comes after SEC filed a lawsuit against Binance exchange on June 5th.
US Court freezes the assets of #Binance US.
— CO NEWS (@coinotag) June 7, 2023
After SEC filed a lawsuit against Coinbase exchange on June 6th, SEC requested the freezing of assets belonging to Binance US from the US court. According to the information received today, this request has been accepted by the US court and caused a big shock in the cryptocurrency market.
There has been no statement from Binance or CEO CZ regarding the matter yet, but Binance CEO CZ said in a statement yesterday that if the decision to freeze the assets of Binance US is taken, it will only affect America and emphasized that Binance Global users will not be affected. He also added that the funds are safe.
Cryptocurrencies Show a Sharp Decline!
With SEC filing a lawsuit against Binance and Coinbase exchanges, cryptocurrencies experienced sharp declines. Bitcoin price had dropped to $25,351 the previous day.
Today, with the US court’s decision to freeze the assets of Binance US, Bitcoin price experienced a 1.40% drop from $26,730 levels to $26,350 levels. The second largest cryptocurrency Ethereum showed a little over 1% drop from $1,867 levels to $1,842 levels.
The local token of Binance exchange, BNB, dropped from $276 to $268. BNB, which had been trading above $305 before June 5th, experienced a drop of approximately 3%.
