Bitcoin Reaches Over $28,000 for the First Time Since May 8, BlackRock's ETF Filing Plays Pivotal Role in Cryptocurrency Market's Stability
June 21 (Cointime) - Bitcoin has surpassed $28,000 for the first time since May 8, with a current trading price of $28,144, representing a 5.23% increase from the day's high. The cryptocurrency's market capitalization has grown by 50% due to this significant increase in value.
US Crypto Exchange Market Sees Shakeup as Binance.US Share Drops to 1%
June 21 (Cointime) - The US crypto exchange market is experiencing significant changes as Binance.US's market share has plummeted to just 1%. Meanwhile, Coinbase's market share has also declined, dropping to 50% since the start of 2023. Other exchanges, such as LMAX, Bitstamp, and Kraken, have made notable gains in the market.
SEC Director of Enforcement Says Agency is Focused on Adherence to Existing Laws in Crypto Market
June 21 (Cointime) - The director of enforcement at the U.S. Securities and Exchange Commission, Gurbir Grewal, has stated that the regulator is not concerned with labels or technology, but whether securities are being sold in compliance with existing laws. Grewal highlighted that the SEC is concerned with offerings in the crypto markets and has seen many DeFi products and stablecoins that are fraudulent. He also noted that crypto products and services are supposed to protect against market manipulation and fraud but haven't. The SEC recently charged Binance and Coinbase for securities law violations, and Grewal said the agency prosecuted the exchanges to promote compliance and deter other bad actors.
ARK Invest CEO Cathie Wood explains Why Flagship Fund is increasing Position in Coinbase despite SEC Lawsuit against Binance
June 20 (Cointime) - Cathie Wood, CEO and CIO of ARK Invest, has explained why her flagship fund, Ark Innovation, is increasing its position in Coinbase shares despite the SEC's lawsuit against Binance. ARK Invest purchased almost 330,000 shares of Coinbase on June 6, 2023, worth about $17 million at the time. Wood believes that if Coinbase wins its legal battles with the SEC, it will become the only cryptocurrency exchange in the USA.
Shiba Inu Meme Coin Transfers and Burn Rate Increase, SHIB Price Rises and Falls
June 19 (Cointime) - Recent data from Etherscan shows that large transfers of Shiba Inu meme coins have occurred, with a total of 27.6 billion SHIB being moved in five transactions. Anonymous wallets moved around 17 billion SHIB to addresses linked to major crypto exchanges Binance and Coinbase.
Coinbase Accuses SEC of Offering “No Straight Answers” in Ongoing Legal Battle
June 19 (Cointime) - Coinbase has criticized the Securities Exchange Commission (SEC) for failing to provide clear answers to questions asked in the U.S. Court of Appeals regarding Coinbase's rulemaking petition for a regulatory framework for digital assets.
Coinbase Stock Rises Nearly 6% as Analysts Increase Average Price Target
June 19 (Cointime) - According to data from The Block Research, Coinbase's stock price rose by almost 6% last week, ending at $55.59 despite the ongoing lawsuit with the SEC. Additionally, the average price target for COIN by analysts slightly increased from $69.17 per share to $69.70, largely due to one broker removing its sell rating coverage.
Former Coinbase CTO Warns Tech Giants Could Help Governments Seize Crypto Assets
June 18 (Cointime) - Former Coinbase CTO Balaji Srinivasan has warned that major tech companies like Apple, Microsoft, and Google could potentially assist governments in seizing digital assets from citizens.
Coinbase's Stock Price Rises Nearly 6% as Analysts Increase Average Price Target
June 18 (Cointime) - Coinbase's stock price rose by almost 6% last week, despite the ongoing SEC lawsuit against the exchange-operator. The increase was supported by a slight rise in the average price target among analysts, which moved from $69.17 per share to $69.70.
Indonesia Approves List of 501 Legal Cryptocurrencies, Brazil Develops Regulatory Framework for Crypto Securities
June 18 (Cointime) - While the SEC's lawsuits against Binance and Coinbase have created uncertainty in the US crypto sector, other countries are clarifying the regulatory status of various crypto assets. The SEC's actions have caused major exchanges to halt USD deposits and remove tokens mentioned in the lawsuits.
