Liquidity is deteriorating for Binance USD as crypto investors have redeemed some $7 billion of tokens from issuer Paxos since regulators ramped up pressure on the stablecoin.
Blockchain transaction data by Arkham Intelligence shows that Voyager Digital transferred some $121 million of crypto assets to exchanges in February and received some $150 million in USDC stablecoin in the last four days.
The government agency not only “piggybacked” off of the DOJ’s case, but is using it as a way to define some tokens as securities, Perianne Boring, the Chamber of Digital Commerce’s founder, told “First Mover.”