Binance.US prepares for a «reboot»

Binance.US, the American branch of the world’s largest cryptocurrency exchange, has announced an important update: in early 2025, it will resume support for trading pairs with the US dollar. This announcement comes as part of a platform «reboot», during which the company plans to reinstate fiat deposits and dollar trading. Recall that in June 2023, the exchange suspended USD deposits and advised users to withdraw fiat funds due to changes in banking partners’ policies.

Why did this happen?

Binance in the US restricted dollar support due to cautiousness from banking partners caused by increasing pressure from US regulators. In June 2023, the SEC filed a lawsuit against Binance, accusing the company of selling unregistered securities, which caused instability and the suspension of USD operations. The SEC also sought to freeze the exchange’s assets, leading to a 7.3% drop in Bitcoin’s price. In response, Binance.US delisted pairs such as BTC/USD, leaving only USDT.

The reality after the SEC investigation

Despite the SEC investigation, Binance.US continued operations, offering over 160 cryptocurrencies and staking on 20+ assets. Division head Norman Reed noted that over 17 months of investigation, the SEC failed to present evidence of wrongdoing. This statement gives users and investors hope for the restoration of stability and the return of USD support.

New partnerships and services

The US branch of Binance is working on expanding its services. Reed mentioned plans to forge new partnerships to enhance custodial services and improve cryptocurrency wallet solutions. This highlights the company’s aim to strengthen its position in the US market and rebuild user trust.

The return of USD support on Binance.US will increase liquidity and stabilize prices, but much depends on relations with US regulators and the resolution of legal issues. This step is crucial for restoring the exchange’s operations in the US.