Investing
Binance Australia customers seen selling bitcoin at discount to rival exchanges
© Reuters. FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration
SINGAPORE (Reuters) – prices on the Australian arm of Binance, the world’s largest crypto-currency exchange, were almost A$9,000 lower than prices on rival exchanges on Tuesday, in a sign customers were seeking to exit their positions quickly.
The price of the world’s biggest cryptocurrency, bitcoin, was at around A$34,000($23,062.20) on Binance Australia, compared with A$43,000 on BTC Markets, an Australia-based cryptocurrency exchange.
Bitcoin was quoted at $27,790 outside Australia.
Binance did not immediately respond to Reuters request for comment.
Earlier this month, the Binance unit said some customers in Australia will not be able to deposit or withdraw money after a third-party service provider cut off its service.
Binance has been battling regulatory suits and probes around the world. The company said in April it would close its Australian derivatives business after relinquishing a financial services licence amid a regulatory probe into its operations.
($1 = 1.4743 Australian dollars)
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