Binance.US offered a small discount for Bitcoin (BTC) on Friday morning after the platform announced that it would be a crypto only platform from June 13.

TradingView, a charting platform, tracked data that showed the bitcoin-U.S. Dollar pair traded on Binance.US at 08:25 UTC was trading $130 lower than prices on Coinbase, and other major exchanges.

“BTC is now trading at a slight premium on binance.us,” stated Clara Medalie of Paris-based Kaiko, a crypto data provider. The news of a possible suspension in USD withdrawals caused a spike in BTC sales as traders tried to remove their assets from the exchange.

Binance.US announced late Thursday night that it will no longer accept dollars as deposits. It also warned that the banking partners of the exchange are planning to stop fiat withdrawals on June 13th. The exchange encouraged clients to retrieve their dollars by using bank transfers prior to that date, and announced it would start delisting dollar-denominated pair starting next week.

The U.S. Securities Exchange and Commission asked a federal judge to block Binance.US assets while suing Binance’s global entity and Coinbase, a rival exchange for violating federal securities laws.

Market makers removed liquidity from Binance.US order books following the SEC’s actions. As a result of this, the market depth deteriorated and bitcoin traded at at a premium more than $1,000 at one point on the exchange.

The spread was negative on Friday morning after Binance.US suspended USD withdrawals and deposits. (TradingView)

Sheldon Reback is the editor.