The U.S. crypto market faced more turmoil as mobile trading app Robinhood pulled three crypto coins.
Topline
The U.S. faction of Binance will no longer allow users to trade the U.S. dollar on its platform, the crypto exchange operator announced late Thursday, after banking partners began cutting off the firm amid a crumbling crypto market in the U.S. as regulators sued two industry giants this week.Key Facts
Binance.US will transition to a crypto-only exchange, halting all USD withdrawals and deposits, as soon as June 13, the company announced Thursday night.
The company’s payment and banking partners “signaled their intent” to close out USD trading with Binance due to the Securities and Exchange Commission’s lawsuit filed Monday alleging the company was dodging regulation and operating illegally, which Binance reiterated in its Thursday statement was “baseless.
