Tag: SEC

Bitcoin Price (BTC), ETH, USDT Trade at Premiums on Binance.US as Users Flee Following SEC Lawsuit

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The BTC-U.S. dollar trading pair on Binance.US jumped as high as $28,800 earlier on Wednesday morning, some $1,700 higher than the average price across other exchanges at that time, data shows. Recently, the BTC-USD pair was changing hands at $27,900, while the CoinDesk Bitcoin Price Index (XBX), which feeds from prices on multiple exchanges, stood at around $26,400. The difference represents an almost 6% price premium on Binance.US. Original

Robinhood Scrutinizing Tokens Designated as Securities by SEC

Crypto market prices have tumbled significantly since the news began to make rounds. Altcoins like Solana (SOL), Cardano (ADA), Polygon (MATIC) and many other tokens face the possibility of being delisted from Robinhood Markets Inc (NASDAQ: HOOD), after the United States Securities and Exchange Commission (SEC) charged Binance and Coinbase Global inc (NASDAQ: COIN) for trading unregistered securities.  At present, Robinhood is taking another look at the digital assets offerings on its platform to “determine what, if any, actions to take,” according to Dan Gallagher, a one-time SEC Commissioner and…

Binance and CZ sued by the SEC

In the latest episode of The Market Report, analyst and writer Marcel Pechman discusses the impact of the United States Securities and Exchange Commission lawsuit against the Binance exchange. Most likely, the U.S. population will be barred from using the international version of Binance, and those who opt for VPN services will be at risk of being prosecuted. Pechman believes Changpeng “CZ” Zhao and Binance will lose or strike a deal pleading guilty, pay a fine, and be forced to halt services for North American entities — including Paxos and…

ARK Invest buys Coinbase shares the same day SEC serves lawsuit

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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 to a worth of nearly $21.6 million at the time of closing on the same day. This came as Coinbase stock plummeted more than 20% on June 6, following the ongoing action involving the SEC and the recent lawsuit…

Binance says it’s ‘different’ from other exchanges amid SEC lawsuit

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On June 7, cryptocurrency exchange Binance published a statement on its Chinese social channels with the hashtag #StrongTogether. Amid ongoing litigation with the United States Securities and Exchange Commission (SEC), Binance said its wallet addresses are transparent and that the exchange never “siphoned consumers’ funds” nor has “any collateralized borrowings.” Additionally, Binance said it never gave “large donations” to political candidates nor made “large sponsorships” to entertainment and media entities. A translated version of the exchange’s message said: “Our community comes from many different races, ethnicities, and beliefs; we will…

South Korea Regulator Delays Binance Acquisition of Gopax Due to SEC Lawsuit 

While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform. The SEC’s lawsuit against Binance has started affecting the company’s operations, particularly its acquisition of Gopax in South Korea. The US Securities and Exchange Commission filed a case against Binance for violating securities law. According to the filing with the federal court in Washington, Binance mishandled investors and also misled both investors and regulators. The Commission also alleged that the exchange broke the rules…

US court orders SEC to respond to Coinbase’s rulemaking petition

US court has directed the SEC to address Coinbase’s rulemaking petition within a week, as the crypto exchange seeks regulatory clarity for digital assets amidst an ongoing lawsuit and heightened enforcement actions against market participants. The US Court of Appeals for the Third Circuit has issued a significant order that compels the US Securities and Exchange Commission (SEC) to clarify its stance on a rulemaking petition submitted by leading cryptocurrency exchange Coinbase.  Coinbase had earlier filed a challenge under the administrative procedure act, seeking to prompt the SEC to respond…

Binance.US Says SEC Lawsuit Is Unjustified

Many crypto exchanges including Binance believe that the SEC’s requested relief will do more harm to investors than good.  The United States arm of the Binance exchange, Binance.US has responded to the lawsuit filed against it by the Securities and Exchange Commission (SEC).  According to Binance.US, the lawsuit is without any basis and therefore, the exchange is ready to go to court to refute all of the unwarranted accusations. In light of facts, the law at the time, as well as the SEC’s precedents, the exchange believes that the regulator’s…

Bitcoin Price (BTC) Shows Resilience Amid SEC Lawsuits Against Binance, Coinbase

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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 on its heels following the Binance suit, bitcoin sank further on the Coinbase action before recovering throughout the day to again top $27,000. It’s retreated a bit overnight Wednesday to the current $26,800, still up 4% over the last 24…