Tag: SEC

SEC lawsuits against Binance and Coinbase unifies the crypto industry

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Professionals across the crypto sector have responded to the United States Securities and Exchange Commission’s (SEC) recent actions against two 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 the Binance suit, the commission also went after Coinbase on similar grounds, alleging that popular cryptocurrencies offered by the exchange, such as Solana (SOL), Polygon (MATIC) and The Sandbox (SAND), qualify as securities. Today we charged Binance Holdings Ltd. (Binance); U.S.-based affiliate,…

SEC lawsuit against Binance and Coinbase unifies the crypto industry

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 the Binance suit, the commission also went after Coinbase on somewhat similar grounds, alleging that popular cryptocurrencies offered by the exchange, like Solana (SOL), Polygon (MATIC) and The Sandbox (SAND), qualify as securities. Today we charged Binance Holdings Ltd.…

Ark Invest Acquires Coinbase Shares despite SEC Allegations

Per the latest allegations, Coinbase is operating as an unregistered national securities exchange and broker. Ark Invest remains bullish on Coinbase (NASDAQ: COIN) despite the fact that the US Securities and Exchange Commission (SEC) is currently indicting the crypto company. The asset management company acquired additional Coinbase shares on the same day the regulator slammed the crypto exchange with a new lawsuit, causing its stock to plunge. Ark Buys Coinbase Shares Amid SEC’s Lawsuit On Tuesday, Ark’s Next Generation Internet ETF purchased 53,885 shares, while its flagship ETF, Ark Innovation…

SEC Crypto Crackdown on Coinbase and Binance Generates 444% Spike in DeFi Trading Volumes

Following a recent strike at major crypto exchanges, the SEC has inadvertently caused an over 400% rise in trading volumes on DeFi platforms. The ongoing crypto crackdown by the US Securities and Exchange Commission (SEC) has come with a silver lining for the crypto industry, especially for decentralized finance (DeFi). According to crypto data aggregator CoinGecko, the top three largest decentralized exchanges (DEXs) have recorded a 444% jump in median trading volume in the last 48 hours. The data shows a combined $792 million increase in total trading volume for…

SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea

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The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea. A report published in a South Korean daily suggests that the Financial Service Committee (FSC) — the country’s financial watchdog — is reviewing Binance’s acquisition of local crypto trading platform Gopax. Binance acquired a majority stake in Gopax in February, intending to reenter the South Korean crypto market after a two-year hiatus. The FSC has reportedly suspended Gopax’s executive change report filed on March 7, citing the recent SEC lawsuit. The…

SEC lawsuit claims Binance.US, Changpeng Zhao put customer funds ‘at significant risk’

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The United States Securities and Exchange Commission (SEC) has filed another document in its lawsuit against Binance.US, saying investors’ funds are at risk.  In the filing entered on June 5, the regulators claim that the defendants, including Binance CEO Changpeng Zhao and Binance Holdings Ltd., “have enriched themselves by billions of U.S. dollars while placing investors’ assets at significant risk.” It goes on to say that the defendants’ made “purposeful efforts” to bypass U.S. regulatory oversight while providing securities-related services to U.S. users. “[This] puts the safety of billions of…

SEC seeks express court order to freeze BinanceUS’s assets

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has asked a United States federal court to freeze the entire assets of BinanceUS, to prevent the “dissipation of the exchange’s available assets for any judgment.” Binance.US will be mandated to repatriate customers’ crypto and fiat currencies if granted.   SEC aiming to freeze BinanceUS assets    Barely 48 hours after taking legal action against Binance and its founder, Changpeng Zhao (CZ), the United States Securities and Exchange Commission (SEC) is set to take more drastic…

SEC, Gensler-themed memecoins surge amid Binance and Coinbase lawsuits

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A number of memecoins drawing their likeness from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in price following the regulator’s lawsuits against crypto exchanges Coinbase and Binance. One such token is Good Gensler (GENSLR) which rallied more than 260% in the hours following the regulator’s complaint against Coinbase for offering unregistered securities on June 6. Good Gensler (GENSLR) weekly price chart. Source: CoinMarketCap. Good Gensler currently sports a total market capitalization of around $3.2 million. In the last 24 hours,…