✅$100 Million in Bitcoin Longs Wiped Out as SEC Announces Action Against Binance

✳️$100 million worth of leveraged long positions in the Bitcoin futures market were wiped on Monday, the biggest one-day rout in over three months, as the Bitcoin (BTC) price tumbled on the news of US Securities and Exchange Commission (SEC) enforcement action against the world’s largest cryptocurrency exchange Binance.

Bitcoin tumbled into the mid-$25,000s as the SEC sued Binance, Binance.US and the exchange’s founder Changpeng Zhou (CZ) with 13 charges, including having operated illegally in the US as an unregistered securities exchange.

BTC was last in the $25,600s and down around 5.5% on the day, with analysts saying the SEC’s latest lawsuit adds further uncertainty for crypto businesses operating in the US. #Binance #SEC #BTC