|Day's Range||0.2400 - 0.3800|
O’Leary criticized Coinbase leadership for “butting heads” with the SEC — which on Tuesday sued the cryptocurrency exchange for acting as an exchange, a broker, and a clearing agency without registering.
As the SEC sues Coinbase and Binance, Brendan Pedersen, Punchbowl News Financial Services Reporter and Author of The Vault newsletter, joins Yahoo Finance Live to discuss how these lawsuits could help shape crypto regulation.
(Bloomberg) -- Two months after the collapse of Silvergate Capital Corp. and Signature Bank, a new banking landscape for crypto companies is taking shape amid an expanding crackdown on the industry in the US. Most Read from BloombergAmericans Are Leaving Portugal as Golden Visa Honeymoon EndsDonald Trump Charged in Florida Over Secret Documents CaseRussian Elite Is Souring on Putin’s Chances of Winning His WarLeaving New York for Miami Can Save Nearly $200,000Ukraine’s New Tanks Are Seen in Acti
Regulators have been confused about whether cryptocurrency is a security or a commodity, but clarity appears imminent
Coinbase Global's (NASDAQ: COIN) stock plunged 12% on Tuesday after the Securities and Exchange Commission (SEC) sued the cryptocurrency exchange for "operating as an unregistered securities exchange, broker, and clearing agency." The SEC alleges that Coinbase made "billions of dollars" by "unlawfully facilitating the buying and selling of crypto asset securities," and its failure to operate as a registered exchange "deprived investors of significant protections." The SEC's move wasn't surprising since it had just filed a suit against Coinbase's competitor Binance a day earlier based on similar allegations.
Binance is to block dollar withdrawals from its US cryptocurrency exchange within days amid a crackdown by the Biden administration on the industry.
Investing.com -- Moody's lowers its outlook on Coinbase, citing concerns over a lawsuit brought against the cryptocurrency exchange by U.S. authorities. Elsewhere, inflation data out of China disappoints and exacerbates worries that the country's nascent post-pandemic recovery could be running out of steam.
(Bloomberg) -- Binance.US is being cut off from its banking partners in the fallout from a Securities and Exchange Commission lawsuit against the cryptocurrency exchange.Most Read from BloombergAmericans Are Leaving Portugal as Golden Visa Honeymoon EndsDonald Trump Charged in Florida Over Secret Documents CaseRussian Elite Is Souring on Putin’s Chances of Winning His WarLeaving New York for Miami Can Save Nearly $200,000Ukraine’s New Tanks Are Seen in Action as Counteroffensive Gets UnderwayIn
Investing.com-- Binance.US, the American arm of the global cryptocurrency exchange Binance, announced that it will suspend dollar deposits and warned its customers of a potential halt to withdrawal channels by as early as next week, as it grapples with increased regulatory pressure.
ALSO: Valkyrie's chief investment officer expects the U.S. central bank to suspend its nearly year-long diet of interest rate increases. That might please digital and other asset markets, but Steven McClurg said that the monetary dovishness is unlikely to continue later this year.
SOL, the native token of the Solana blockchain, was declared an unregistered security in this week’s SEC lawsuits against crypto exchanges Binance.US and Coinbase.
After news broke that the U.S. Securities and Exchange Commission (SEC) is suing Binance, the Chief Executive of the world’s largest crypto exchange, Changpeng Zhao (aka CZ), took to a familiar strategy: tweeting. CZ’s first Twitter communiqué was just the number “4,” posted around the same time SEC Chair Gary Gensler was likely cleaning up for the first of several TV interviews. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond.
Earlier this week, the SEC sued two of the world's largest crypto exchanges. Despite the negative news, some segments of the crypto space are poised to move higher.
The chair of the U.S. Securities and Exchange Commission (SEC) on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a "calculated economic decision" to flout its rules. Speaking at a Piper Sandler conference in New York, Gary Gensler also reiterated his view that the "vast majority" of crypto tokens meet the test for being a security and should be registered with the SEC. "They may have made a calculated economic decision to take the risk of enforcement as the cost of doing business."
(Bloomberg) -- Liquidity on one of the most prominent crypto exchanges has worsened in the wake of head-turning regulatory actions by US officials.Most Read from BloombergAmericans Are Leaving Portugal as Golden Visa Honeymoon EndsDonald Trump Charged in Florida Over Secret Documents CaseRussian Elite Is Souring on Putin’s Chances of Winning His WarLeaving New York for Miami Can Save Nearly $200,000S&P 500 Enters Bull Market as Tech Rally Resumes: Markets WrapBitcoin bid-and-ask depth on Binance
Ark Invest CEO Cathie Wood bought more Coinbase (NASDAQ: COIN) stock after a recent pullback. Ark purchased new shares worth roughly $21.6 million on June 6 for three of its exchange-traded funds (ETFs). The big purchases came on the same day that the Securities and Exchange Commission (SEC) triggered big sell-offs for the stock by announcing it had filed a suit against Coinbase for operating as an unregistered trading exchange.
Bitcoin recently made a comeback despite the SEC's regulatory actions against Coinbase and BInance. Cathie Wood's buying-the-dip move bolstered the confidence in the space.
Shares of many crypto stocks and cryptocurrencies fell this week as the Securities and Exchange Commission (SEC) continued to crack down on the industry. Shares of Coinbase (NASDAQ: COIN) are trading more than 16% lower for the week as of 11:39 a.m. ET Thursday, according to data from S&P Global Market Intelligence. Meanwhile, shares of the Bitcoin-mining company Riot Platforms (NASDAQ: RIOT) traded nearly 9% lower, while shares of Cipher Mining (NASDAQ: CIFR) were down roughly 11.6%.
The Securities and Exchange Commission recently sued Coinbase, alleging the company is operating an unregistered exchange, broker, and clearing agency.
(Bloomberg) -- Cathie Wood said Binance Holdings Ltd.’s US legal problems will benefit its rival Coinbase Global Inc. Most Read from BloombergAmericans Are Leaving Portugal as Golden Visa Honeymoon EndsDonald Trump Charged in Florida Over Secret Documents CaseRussian Elite Is Souring on Putin’s Chances of Winning His WarLeaving New York for Miami Can Save Nearly $200,000S&P 500 Enters Bull Market as Tech Rally Resumes: Markets WrapThe world’s two biggest cryptocurrency exchanges are facing a reg
The investment bank cut its price target on the stock to $39 from $55.
The SEC sued Binance and Coinbase this week, presenting the industry with both further analysis on why it thinks certain cryptocurrencies are securities and its biggest test to how cryptos may be regulated in the U.S. going forward.
The latest price moves in bitcoin (BTC) and crypto markets in context for June 8, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The SEC says many cryptocurrencies are actually securities. Find out how the security vs. commodity debate could impact your crypto investments.
Implied volatility metrics show no signs of panic after the SEC's filed lawsuits against the two cryptocurrency exchanges.