[wyxuan]

If I had to make a guess on what is going on, Binance US is using Binance cloud, which allows for other platforms to tap into Binance’s orderbook liquidity and infra. Mandala(an exchange) uses it, and their token mdxt doesn’t trade on Binance but still uses their infra and wallets for instance.

There could be a similar arrangement where US pairs don’t appear on the intentional exchange and vice versa, even if they use the same infra