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Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure from United States regulators and lawmakers.According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month,
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Still, SEC fallout was fierce on Wednesday. BNB, the Binance Smart Chain’s native token, recently dropped 7.6% from Tuesday, same time, and at one point earlier in the day sank to about $252, its lowest price since early January, according to CoinDesk data. Cardano’s ADA, Polygon’s MATIC and Solana’s SOL,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In an interview with Bloomberg, Coinbase CEO Brian Armstrong candidly outlined the challenges and complexities his company has faced in its compliance with regulations in the U.S. According to industry insiders, in the world of cryptocurrency, it
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Armstrong insisted Coinbase would not be at risk of a bank-run-like rush of withdrawals similar to those some of its peers have suffered. “All the funds are backed one-to-one, and you don't have to take our word for it,” Armstrong said. “As a public company, we have auditors … who
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But the messaging surrounding the suits makes the SEC’s recent moves seem reactive, political and frankly, just beneath the bluster, weak. Specifically, the SEC seems to be trying to put Coinbase and Binance into the same bucket as the frauds of 2022, such as Luna, Celsius and above all FTX.
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“When Coinbase has attempted to do just that, to talk about how we could register as a broker-dealer or an [alternative trading system] or even as a [national securities exchange] after months and months of discussion, we’re simply dismissed with no response or any counter proposal or ideas coming back
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The same day cryptocurrency exchange Coinbase was served with a lawsuit from the United States Securities and Exchange Commission (SEC), ARK Invest added more stock to its Coinbase holdings. According to investor notification from ARK Invest on June 6, the firm added approximately 419,324 shares of Coinbase Global Inc., which totals
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Bitcoin (BTC) quickly bounced back after tumbling to a three-month low of less than $25,500 on Tuesday following news that Coinbase (COIN), had been sued by the U.S. Securities and Commission Exchange (SEC) on allegations of violating federal securities law. This followed a similar suit against Binance on Monday. Already
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Crypto regulation has become a political debate and a turf battle between the SEC and the CFTC, the report said. Source
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Professionals from various parts of the crypto sector have responded to the United States Securities and Exchange Commission’s (SEC) recent actions against some of the biggest crypto exchanges, Binance and Coinbase. On June 5, the SEC filed a lawsuit against Binance for allegedly offering unregistered securities. Only a day after filing
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