Some $289 million of long positions – traders who bet on prices to rise – were wiped out during the day, marking the largest level of long liquidations in at least three months, per Coinglass.
Crypto markets nosedived Monday following the SEC suit accusing Binance, the world’s largest crypto exchange by trading volume, and its chief executive, Changpeng “CZ” Zhao, of offering unregistered securities, commingling user deposits and inflating trading volumes.
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