Tag: Binance

SEC’s Latest Crackdown Against Coinbase and Binance Could Drive Crypto Firms Out of the U.S.

“I suspect we will see more and more moves like this,” Andrew Lawrence, co-founder and CEO of Censo Inc., an on-chain custody solution said. “Yes, the U.S. is the biggest market, but people who are building in the crypto industry are doing so not because of the size of the market now, but because of the size of the market in the future and people are seeing that this future is not looking good in the United States.” Source

SEC files motion for restraining order against Binance

The United States Securities and Exchange Commission filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6 requesting eight actions.  The first requested actions are the freezing of the assets of Binance.US and repatriation of fiat and cryptocurrency held by U.S. customers or for the benefit of U.S. customers. In addition, it prohibits the defendants from destroying, altering or concealing records and other sets conditions on discovery.  According to the filing: “This relief is…

BTC Price Rallies Above $27,000 as Crypto Market Shrugs Off SEC Lawsuits Against Binance, Coinbase

The broader crypto market also regained ground since Monday, albeit somewhat less than BTC. ETH, the second largest crypto by market value, was recently changing hands at slightly below $1,900, up 4.5% from Monday, same time. ADA and SOL, the tokens of the smart contract platforms Cardano and Solana, recently rose more than 1% a day after plunging more than 8% and 10%, respectively. Binance’s BNB native token was also in positive territory, while Polygon’s MATIC was down 1%. The SEC listed those tokens and nine others as unregistered securities…

Coinbase Users Withdraw $600M in Crypto in a Day Amid SEC Lawsuits Against Binance, Coinbase

Traders have withdrawn funds from Coinbase in two waves, data shows. On Monday, net outflows reached $450 million within an hour following the lawsuit against Binance before stabilizing, according to Nansen data. Withdrawals rose again on Tuesday following the suit against Coinbase, then subsided. At the time of publication, net flows for the past hour turned positive, per Nansen. Source

Binance launches bitcoin NFTs amidst SEC lawsuit

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has added bitcoin non-fungible tokens (NFTs) to its marketplace only one day after the U.S. Securities and Exchange Commission (SEC) filed a complaint against the business. In addition to BTC DeGods, Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, and Bitcoin Punks, this cryptocurrency exchange’s NFT marketplace will now feature over 25 collections of bitcoin NFTs. The bitcoin community and the cryptocurrency industry are now fixated on NFTs related to bitcoin because of their sudden prominence as…

After Binance, SEC Sues Coinbase over Illegal Operation of Crypto Exchange

boss

The Securities and Exchange Commission (SEC) has charged Coinbase, the largest cryptocurrency exchange in the United States, with operating an illegal trading platform that offered unregistered crypto asset securities. The securities watchdog also accused the platform of running a digital asset staking-as-a-service programme without authorization. In a complaint filed before a US district court in New York, SEC further alleged that Coinbase combines the functions of an exchange, brokerage and clearing agency–which are separated under US laws–without registering to engage in these activities. “All the while, Coinbase has earned billions…

Crypto Markets Stay Down Following SEC Suing Binance

U.S. Bankruptcy Court Judge Sean Lane extended a mediation period between crypto lender Genesis and its creditors at a Monday hearing as tensions flared over the role Genesis’ parent company, Digital Currency Group (DCG), would play in the lender’s restructuring. The period, slated to end last month, will now conclude on June 16. Judge Lane appointed a mediator to steer talks between the insolvent lender and its creditors on May 1 after discussions between the parties broke down earlier this year. “There’s lots of different kinds of conversations that have…

Bitcoin (BTC) and Broader Crypto Market Come Crashing Down Following SEC Lawsuit on Binance

After SEC’s action on Binance, Bitcoin and the broader crypto market tanked instantly. Altcoins face heavy correction to the tune of 7-8% with Binance BNB suffering the most. The filing of the lawsuit by the US SEC against crypto giant Binance sent shockwaves across the entire cryptocurrency market on Monday, June 5. Over the last 24 hours, Bitcoin (BTC) and the broader cryptocurrency market have corrected by over 4%. As of press time, the Bitcoin (BTC) price is down by 4% and is currently trading at $25,778 with its market…

Pepe price tumbles 16% amid Binance regulatory saga

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Meme coin pepe sees tremendous losses in price valuation ahead of the ongoing wrangle between Binance and the SEC that has provoked FUD and investor panic. Pepe has seen a 16% drop in price valuation within 24 hours, trading at $0.000001. The meme coin’s market cap stood at $396.3 million. Trading volume stood at $190.8 million during press time. PEPE price drop | Source: CoinMarketCap Large pepe holders selling for losses Recent sales of large sums…