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During the past week, Coinbase and Binance encountered challenges due to increased regulatory scrutiny, coinciding with bearish market conditions following the US Securities and Exchange Commission’s (SEC) charges. Binance faced additional regulatory obstacles on a global scale, while its US-based counterpart, Binance.US, successfully settled with the SEC, preventing a complete
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Congress may put ethereum (ETH) in a new category with less burdensome regulations than securities or group it with bitcoin (BTC) as a commodity, JPMorgan strategists suggest. The theory arises after the SEC’s ongoing
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bakkt has delisted solana (SOL), polygon (MATIC), and cardano (ADA), citing regulatory uncertainty in the US. The exchange says it’s awaiting further clarity on how to offer more altcoins compliantly. The current regulatory dark clouds in the US
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Last month, Jane Street and Jump, two prominent market makers, announced that they were at very least reducing their trading activity. This compounded the liquidity woes that had been felt since FTX's collapse, with market depth on exchanges sliding by more than 50% between November and May, according to Kaiko. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Blockchain Association, a prominent US crypto lobbying group, has lodged a formal inquiry with the US Securities and Exchange Commission (SEC) to acquire information about the relatively unknown crypto firm, Prometheum. This move comes after Prometheum’s
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied San Francisco-based crypto exchange Coinbase has raised its reward rates for USDC, a stablecoin tied to the US dollar. Users can now earn a 4% annual yield (APY) on their USDC holdings. The latest development marks a
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In the wake of recent allegations by regulators of securities law violations, Binance.US, the American branch of the global cryptocurrency titan, has initiated a round of staff cutbacks, say insiders and social media posts by employees. Binance.US,
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The payments processor also cited crypto market conditions as a reason for the exit. Source
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Members of the United States House Financial Services Committees met to discuss clarity for the digital asset ecosystem, with some invoking recent legal action from the Securities and Exchange Commission (SEC) against crypto firms.In a June 13 hearing of the committee, ranking member Maxine Waters said Democrats were taking a
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The crypto market has turned bearish since the SEC charged Binance and Coinbase with listing unregistered securities last week. The cryptocurrency market is in a crucial growth phase that could significantly determine the winners of blockchain mainstream adoption. The fact that different countries are coming up with respective crypto policies is
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