{"id":341113,"date":"2023-07-10T10:40:51","date_gmt":"2023-07-10T09:40:51","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=341113"},"modified":"2023-07-10T10:42:45","modified_gmt":"2023-07-10T09:42:45","slug":"binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues\/","title":{"rendered":"Tether addresses depeg fears as Binance.US faces 8% Bitcoin discount"},"content":{"rendered":"<p>Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) and other digital assets, including Tether (<a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">USDT<\/a>), are currently trading at an 8% <a href=\"https:\/\/cryptoslate.com\/insights\/continued-dislocation-in-binance-u-s-asset-pricing-bitcoin-and-usdt\/\">discount<\/a> on Binance.US, a situation attributed to liquidity issues on the platform following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p><a href=\"https:\/\/www.binance.us\/spot-trade\/btc_usd\">Data<\/a> from Binance.US shows that BTC is trading at $27,705.59 at the time of writing, around $3000 less than it sells on rival platforms like Coinbase, Kraken, BitStamp, and others.<\/p>\n<p>Meanwhile, this discount is also pronounced on other digital assets like Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>), USDT, Solana (<a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">SOL<\/a>), and others, according to Coingecko <a href=\"https:\/\/www.coingecko.com\/en\/exchanges\/binance_us\">data<\/a>.<\/p>\n<h2>Binance US troubles<\/h2>\n<p>Since the U.S. Securities and Exchange Commission (SEC) filed a\u00a0<a href=\"https:\/\/cryptoslate.com\/seven-key-points-from-the-secs-charges-against-binance-and-binance-us\/\">lawsuit<\/a> against Binance.US on June 5, the exchange's market depth has fallen by almost 80% as market makers exited the platform.<\/p>\n<p>Following the legal troubles, the exchange discontinued U.S. dollar deposits after its banking partners abruptly <a href=\"https:\/\/cryptoslate.com\/binance-us-to-go-crypto-only-as-banking-partners-cut-ties\/\">halted<\/a> their payment channels and transitioned to a crypto-only platform. Blockchain analytical firm Kaiko reported that this issue greatly affected Binance.US' reputation, and its market share fell to less than 1%.<\/p>\n<p>Since then, the exchange has <a href=\"https:\/\/cryptoslate.com\/bitcoin-trades-at-500-discount-on-binance-us-amid-liquidity-issues\/\">experienced high volatility<\/a> with its USD pairs, with BTC <a href=\"https:\/\/cryptoslate.com\/bitcoin-price-hits-138000-on-binance-us-amid-exchanges-liquidity-crisis\/\">spiking<\/a> to as high as $138,000 on June 21. Before that, Bitcoin had <a href=\"https:\/\/cryptoslate.com\/bitcoin-premium-on-binance-us-is-symptom-of-illiquid-market-kaiko\/\">traded<\/a> at a 3% discount in May.<\/p>\n<p>Meanwhile, assets paired with stablecoins like USDT and USDC are trading at regular prices, according to <a href=\"https:\/\/www.coingecko.com\/en\/exchanges\/binance_us\">data<\/a>\u00a0from Coingecko.<\/p>\n<h2>Tether CTO addresses USDT trading on Binance.US<\/h2>\n<p>Tether CTO Paolo Ardoino <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1678287505177694208\">addressed<\/a> concerns that USDT had deviated from its dollar peg. He highlighted that the deviation is exclusive to Binance.US, where a general -8% spread appears to affect all cryptocurrencies on the platform.<\/p>\n<p>According to Ardoino, the situation was caused by the legal challenges Binance.US was currently facing. He wrote:<\/p>\n<blockquote><p>&#8220;Binance.US is going through some legal challenges so it probably doesn't have many market makers willing to arbitrage at this moment in time. On Binance.com USDt is trading 1bps above the dollar.&#8221;<\/p><\/blockquote>\n<p>The Tether CTO further added:<\/p>\n<blockquote><p>&#8220;<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Tether is in charge of its primary market (<\/span><a class=\"css-4rbku5 css-18t94o4 css-901oao css-16my406 r-1cvl2hr r-1loqt21 r-poiln3 r-bcqeeo r-qvutc0\" dir=\"ltr\" role=\"link\" href=\"https:\/\/t.co\/SycMhJ6aqj\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span class=\"css-901oao css-16my406 r-poiln3 r-hiw28u r-qvk6io r-bcqeeo r-qvutc0\" aria-hidden=\"true\">http:\/\/<\/span>tether.to<\/a><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">). Market making secondary markets (crypto exchanges) is the role of arbitrageurs and market makering professionals.&#8221;<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) and other digital assets, including Tether (USDT), are currently trading at an 8% discount on Binance.US, a situation attributed to liquidity issues on the platform following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Data from Binance.US shows that BTC is trading at $27,705.59 at the time of writing, around [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":341114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[76769,78512],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether addresses depeg fears as Binance.US faces 8% Bitcoin discount<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether addresses depeg fears as Binance.US faces 8% Bitcoin discount\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) and other digital assets, including Tether (USDT), are currently trading at an 8% discount on Binance.US, a situation attributed to liquidity issues on the platform following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Data from Binance.US shows that BTC is trading at $27,705.59 at the time of writing, around [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-10T09:40:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-10T09:42:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/07\/bitcoin-tether.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-us-faces-8-bitcoin-discount-amid-ongoing-liquidity-issues\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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