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A major cryptocurrency exchange has made a significant announcement concerning its US branch.
The market tends to react to FUD (Fear, Uncertainty, and Doubt), so being prepared is essential.
#Binance is currently facing a challengingĀ legal battle with the SECĀ and dealing with various issues in its US operations.
Binance System Update
TodayāsĀ announcement states that BinanceĀ US will undergo planned maintenance, leading to a temporary halt in deposit/withdrawal transactions.
The advance notice aims to prevent panic in the market, but such maintenance is susceptible to
#FUD. If the maintenance extends, theĀ market might interpret it as a reason for a decline, leading to surprise sales. Investors should be prepared for possible unforeseen selling.
Currently, Binance US can operate in the US by holding assets in the country until the end of the lawsuit, thanks to court approval. However, the absence of market makers is causing abnormalĀ price movements in
#BinanceUS pairs.
TheĀ companyās inability to work with US banksĀ makes it difficult for customers to deposit funds, leading to reduced liquidity and a lack of market makers, resulting in price fluctuations below or above the market.
Investors needĀ not worry presently, as the price of Bitcoin did not react negatively to the recent announcement.
Important:Ā Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
$BTC $BNB