Binance has found its way to the headlines today for two seemingly separate reasons, let us find out why.

Binance suspends Bitcoin withdrawals

CZ tweeted earlier today that Binance would temporarily shut down the withdrawal of Bitcoin from the trading platform. It was supposedly due to a minor technical difficulty and he said it would take around 30 min to fix.

A while later he tweeted a clarification that this was only impacting Bitcoins on the Bitcoin Blockchain. And not any other. And that we probably have to wait a bit longer for the issue to be fixed. Binance main Twitter account also confirmed this. And offered up the explanation of the top being due to a “stuck on-chain transaction.".

So far there is still no word on the transactions being available again. So if you want to move your Bitcoins you might need to do some swapping in order to get them to where you might want them. 

Binance.us is facing a class-action lawsuit over UST and LUNA sales

The second Binance headline was also one of a negative type. The lawsuit is alleging that Binance sold unregistered securities in the form of LUNA and UST to investors and mislead them into buying them. They also allege that Binance is not registered as a broker-dealer and is therefore in violation U.S. securities laws. They also go on to claim that Binance knowingly promoted a flawed project.

If you have purchased UST or LUNA on either of the CEXes listed you can probably get in on the action. At least if you live in the US. It is at least worth sending an email to find out. =)

If the lawsuit will come to anything, well there your guess is probably as good as or better than mine because I really have no idea. The claim of they knowingly promoted a flawed project seems kind of hard to prove. But it might be one of those claims they add just in case and plan to drop it along the way. Looking at the lawsuit I think the main focus of it will be the part that Binance.us is not registered as a broker-dealer. But I am neither a lawyer nor a financial advisor, so guesses are the best you will get from me at this time.

What do you think, has this impacted your view of Binance in any way? Or are these things just the cost of doing buisseniss? Please share your thoughts on these things and any other Binance related things in the comment section down below.

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