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AUD is trading at 13% premium on Binance

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by COINS NEWS 12 Views

So binance is closing (maybe temporarily) withdraws to Australian bank accounts on 1 June. Since the announcement the AUD/BUSD trading pair has gone mental as people sell out for AUD to withdraw before the deadline.

It usually tracks the actual currency rate pretty closely (currently 65c), but on binance it's currently closer to 75c. So if had a $1,000,000 AUD, I could transfer it binance, buy BUSD, then buy crypto, transfer to another exchange, sell and withdraw. Free $150,000 ish profit... Am I missing something - seems crazy.

submitted by /u/Squidtime
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