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In terms of trading volumes, Binance, the largest cryptocurrency exchange in the crypto ecosystem, has recorded a remarkable amount of cryptocurrency entry in just a few hours. The TUSD balance on Binance has risen from $500 million to over $2.5 billion within a 24-hour period.
Substantial TUSD Entry in Binance
In the last 24 hours, a significant number of cryptocurrency entries have been made in Binance, the largest cryptocurrency exchange on a global scale in terms of trading volumes and has recently become a major discussion topic in the public eye due to the lawsuit filed by the SEC.
According to DeFiLlama data, Binance’s TrueUSD (TUSD) balance has risen to $2.65 billion following the latest TUSD entries recorded from below $500 million on June 6. The TUSD balance of the giant exchange has seen an average increase of about $2 billion on a 24-hour scale. Furthermore, according to Glassnode data, a large portion of the total TUSD supply in cryptocurrency exchanges, over 95%, is located on Binance.
Binance on the Radar of Regulators
Recent developments, including a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Binance CEO Changpeng Zhao for violating securities laws, and the rejection of Binance’s license application in Germany, have sparked a public debate about Binance.
With the intensification of the agenda, many speculations were made about Binance in recent weeks. Recently, after a statement given by a Binance Dubai official to the public, various claims about Binance considering moving its operational activities to the UAE entered the public discourse.
