Tag: SEC

61 cryptocurrencies are now seen as securities by the SEC

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The total number of cryptocurrencies the United States securities regulator has accused to be a “security” has now reached an estimated 61, after adding a few more from its lawsuit against crypto exchange Binance. The 61 cryptocurrencies accused obeing a “security” comes from years of various litigation undertaken by the Securities and Exchange Commission (SEC) which has outlined what cryptocurrencies it deems securities. In its most recent case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC),…

SEC complaint hints at why Brian Brooks resigned as Binance.US CEO

The SEC’s latest complaint against Binance could point to why former Binance.US CEO Brian Brooks chose to step down in August 2021, only three months after his appointment. According to a June 5 tweet from cryptocurrency lawyer James Murphy — known on Twitter as MetaLawMan — the SEC complaint cites an “unnamed source” who ran Binance.US for a brief period of time in 2021. The dates correlate with the time that Brooks was CEO of Binance.US. 1/ The SEC complaint against @Binance appears to solve the mystery of why Brian…

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…

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…