Summary
Following a temporary restraining order, approximately $1 billion in assets left Binance.US, as revealed in a deposition by an executive during the ongoing SEC-Binance lawsuit.
Key Points
1. Binance.US executive Christopher Blodgett stated that around $1 billion of assets left the platform, both in cryptocurrency and fiat, following a Temporary Restraining Order (TRO) issued in December 2023.
2. The deposition where Blodgett made this statement was recently published as part of a status update on the ongoing SEC-Binance lawsuit, indicating the significant impact of regulatory actions on the platform.
3. The outflow of assets from Binance.US highlights the potential repercussions that regulatory scrutiny can have on cryptocurrency exchanges and the broader crypto market, leading to increased volatility and uncertainty for investors.