Tag: Binance

Why Did Bitcoin BTC Price Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets

Ether, the second largest crypto in market value, was recently changing hands below $1,800, off more than 5% from Sunday, same time. ETH and other major altcoins followed a similar path to bitcoin on Monday with the bulk of their declines coming in the immediate hours after the SEC suit. BNB, Binance’s exchange token, and SOL, the native cryptocurrency of the Solana blockchain, recently plunged more than 10%. ADA and MATIC, the tokens of smart contract platforms Cardano and Polygon, and popular meme coin DOGE were recently off more than…

SEC’s Binance suit contains heavy mix of predictable charges, novel revelations

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The announcement of the United States Securities and Exchange Commission (SEC) suit against Binance, Binance.US and Binance CEO Changpeng Zhao (CZ) may have surprised the crypto community, but the SEC’s focus on the exchange was well known. The suit’s contents were met with a variety of reactions. CZ claimed in a tweet on the morning of June 5, “Media gets the info before we do,” and the company had not seen the SEC complaint then. Evidence of scrambling behind the scenes may be seen in the two statements Binance issued…

Binance was wrong to boot Monero, ZCash and other privacy coins

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Binance announced in May that it would delist so-called “privacy coins” such as Monero (XMR), Zcash (ZEC) and others in several countries, including France, Italy, Spain and Poland. The decision underscored the reality that some companies might step over their own feet to ban privacy tech — even where it is legal — out of a combination of risk aversion and compliance confusion. Some Monero users have long advocated for keeping their tokens off exchanges, emphasizing that on-exchange transactions undermine user privacy by requiring personal identification data. And yet listing privacy…

Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence

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Bitcoin’s price declined 5% in one hour on June 5 after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance on allegations of violating federal securities laws. Even though the $25,500 support held for Bitcoin, investors are still digesting the potential impacts of the regulatory action, which also involves Binance CEO Changpeng “CZ” Zhao. According to digital asset investment firm Arca CEO Jeff Dorman, the direct impact of an eventual shutdown of Binance operations in the U.S. is irrelevant. Furthermore, non-criminal charges from the past should not…

BNB, CAKE Crypto Prices Plummet Following SEC Crackdown on Binance

CAKE, the token that powers PancakeSwap, the BNB Chain alternative of decentralized exchanges like Uniswap and SushiSwap, is used for liquidity mining rewards and grants holders governance rights over the protocol. The total value locked on Pancake Swap stands at $1.81 billion, a roughly 9% decrease in the past seven days, per DeFi Llama. Source

SEC Charges Binance, CEO over Illegal Exchanges, Commingling of Client Fund

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The Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha The Securities and Exchange Commission…