SEC Files Lawsuits Against Binance and Coinbase, Sparking Debate Over Crypto Regulations
The SEC has filed lawsuits against two major crypto exchanges, Binance and Coinbase, in an effort to bring investors and issuers in the crypto space into compliance. SEC Chair Gary Gensler addressed concerns about why the suits took so long to come to fruition and whether the SEC's actions will impact fintech innovation.
FBG Capital "Supports" Binance with $44M USDT to Offset $600M Withdrawals - Will it Help?
Binance has experienced a net outflow of $600 million since the SEC filed a lawsuit against it on June 5, with withdrawals totaling $1.6 billion in the previous 24 hours compared to $1 billion in deposits.
SEC Sues Coinbase and Binance, Designates SAND and AXS as Securities
The SEC has filed lawsuits against Coinbase and Binance, which has resulted in several cryptocurrencies being labeled as securities, including SAND and AXS. SAND is used to buy land and interact with user-generated experiences in The Sandbox metaverse, while AXS serves as a governance token and is used in the play-to-earn game Axie Infinity.
Investors Pull $790 Million From Binance and Binance.US After SEC Lawsuit, Coinbase Also Threatened
Investors have withdrawn around $790 million from Binance and its U.S. affiliate following the SEC's lawsuit against the company and its CEO Changpeng Zhao.
SEC Lawsuits Against Coinbase and Binance Cause Marginal Drop in Cryptocurrency Prices
The prices of major cryptocurrencies such as Bitcoin and Ether experienced a slight drop after the Securities and Exchange Commission (SEC) filed lawsuits against two major crypto exchanges, Coinbase and Binance. Bitcoin fell by 1%, Ether by 0.7%, and Binance's digital currency, BNB, dropped to a low of 1%.
Tokens Listed in SEC Lawsuit Against Coinbase Experience Significant Drop in Value
The tokens mentioned in the SEC lawsuit against Coinbase are experiencing a significant drop in value, with VGX being the most affected. The lawsuit accuses Coinbase of violating federal securities law and operating as an unregistered broker, exchange, and clearing agency simultaneously.
Binance Users Withdraw $1.5B As SEC Lawsuit Alleges Securities Violations
Binance users have withdrawn almost $1.5 billion from the crypto exchange in the past day, following a new lawsuit from the SEC over alleged securities violations.
Investors Support Binance Amid SEC Lawsuit, But Outflows Reach Over $1 Billion
The Securities and Exchange Commission (SEC) has filed a lawsuit against Binance and its founder Changpeng Zhao for breaching securities regulations and commingling billions of dollars worth of investors' funds.
SEC Lawsuit Against Binance Causes BNB Price to Crash by 10%
The SEC's lawsuit against Binance caused a market-wide drop in prices, with BNB experiencing a quick crash. The news led to a spike in volatility and a 10% drop in BNB's price within two hours. The current support level for BNB is at $265, which may be tested if market sentiment remains bearish.
SEC Sues Coinbase, Shares Drop by 15% in Pre-Trading
Coinbase, a US-based cryptocurrency exchange, is being sued by the Securities and Exchange Commission (SEC), causing its shares to drop by over 15% in pre-trading.
