For several days since Binance US announced the resumption of withdrawals, bitcoin (BTC) has changed hands at a discount and was trading at more than $2,500 below the prevailing market price on July 10. The emergence of a discount on crypto assets paired with USD on Binance US has fueled speculation about the affiliate’s future and the fate of users’ funds.
Stablecoin Asset Pairs Tracking the True Value of Crypto Assets
On July 10 the BTC/USD value on the beleaguered crypto exchange Binance US stood at just over $27,500, about $2,500 below the price prevailing on other centralized exchanges. In contrast, when paired with the stablecoin USDT, the top cryptocurrency’s value of just over $30,100 on Binance’s affiliate in the U.S. was consistent with that on other exchanges.
In fact, as shown by data on Binance US, most crypto assets listed on the platform have also been trading at a discount in USD terms. Yet, when paired with the stablecoins USDT and USDC, many of the crypto asse
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