Users of the site itself suffered the most because of the situation with the Binance cryptocurrency exchange – they lost $96.55 million. They are followed by users of OKX ($81.30 million) and Bybit ($36.77 million).
Also, almost 109,000 positions of traders have been liquidated in the last 24 hours. Bitcoin orders accounted for about $111 million and Ether $38 million. The largest single liquidation order, worth $9.94 million, was recorded on the Bitmex exchange.
Yesterday, June 5, the US Securities and Exchange Commission (SEC) sued Binance and its founder Changpeng Zhao. In its lawsuit, the regulator claims that Zhao created a “network of deception” with the help of a cryptocurrency exchange.
Also, the site is accused of falsifying trading volumes and trading in unregistered securities. The SEC has treated 61 crypto assets as securities, including SOL, ADA, MATIC, and ATOM.
The situation with Binance has led to a depreciation of bitcoin. Some investors decided to sell their BTC, as a result of which the rate of the first cryptocurrency fell by 5%. Over the week, the price of bitcoin fell by 7.5%. Now BTC is trading at $25,700, although a week ago the rate reached $27,800.
