Following the SEC's request to freeze Binance.US assets, on-chain data shows that customers are not overly concerned. Despite expectations of a large outpouring of assets such as Bitcoin from Binance.US and Binance.com, only around $100 million of Bitcoin was withdrawn yesterday, according to Glassnode.

The US Securities and Exchange Commission (SEC) has filed a temporary restraining order and preliminary injunction lawsuit against cryptocurrency exchange Binance.US, attempting to freeze its assets. However, the platform has stated that user assets are still secure and deposit and withdrawal functions are operating normally. Binance.US believes that the SEC's actions are driven by a desire to gain an advantage in the lawsuit, rather than a genuine concern for customer asset safety. Despite the company's efforts to address SEC staff concerns about customer asset safety through nearly round-the-clock dialogue, staff still decided to file the aforementioned lawsuit.

The U.S. Securities and Exchange Commission (SEC) has requested a temporary restraining order to freeze assets connected to Binance.US, including BAM Management US Holdings and BAM Trading Services. The SEC has sued Binance.US, Binance Global, and CEO Changpeng Zhao, alleging various compliance and control failures, including claims that companies linked to Zhao had access to funds belonging to Binance.US customers.

SEC seeks restraining order to freeze Binance US assets.

Margin trading is the practice of trading on the spot market using borrowed funds. The trader borrows them against their own assets — margin. He pays an hourly interest rate commission for the use of credit funds.