Coinbase CEO Outlines Ideal Crypto Regulations for US
Coinbase CEO Brian Armstrong has shared his vision for US crypto regulations in an interview with the Wall Street Journal. Armstrong believes that a clear regulatory framework is needed to define the roles of the SEC and the CFTC, while also providing investor protection.
Top SHIB Holders Accumulate 1.5 Trillion SHIB (~$10M) via Binance and Coinbase
According to Lookonchain monitoring, the largest holder of SHIB has increased holdings of 1.5 trillion SHIB (approximately US$10 million) through Binance and Coinbase. This holder is the largest SHIB holder on the chain other than the exchange address. Addresses starting with 0x40B3 currently hold 5.3 trillion SHIBs (approximately $35.5 million), and previously transferred 200 trillion SHIBs (approximately $134.4 million) to addresses starting with 0x73AF on May 16.
Crypto Investor Balaji Srinivasan Claims US No Longer Has Global Veto Over Tech, Urges Market Participants to Look Beyond US
Former Coinbase CTO and crypto investor Balaji Srinivasan believes that the crypto market will grow faster if market participants look beyond the US. He also stated that the US no longer has a global veto over technology and the global distribution of power is not dominated by the US.
Glassnode Report Shows Investor Behavior After SEC Lawsuits Against Binance and Coinbase
Glassnode released a report analyzing the behavior of investors after the SEC sued Binance and Coinbase. The report noted an increase in short-term holders depositing their balances onto exchanges. Binance experienced a significant decrease in Bitcoin, Ethereum, and stablecoin balances, while Coinbase saw smaller withdrawals in Bitcoin but larger withdrawals in Ethereum.
Binance.US Experiences Significant Drop in Liquidity as Market Makers Flee Exchange
Binance.US, the US-based subsidiary of cryptocurrency exchange Binance, has experienced a significant drop in liquidity as market makers and traders have reportedly left the exchange in large numbers.
SEC Lawsuits Against Binance and Coinbase Leave BTC and ETH Unscathed
Last week, the U.S. Securities and Exchange Commission filed lawsuits against Binance and Coinbase, causing a drop in prices for all assets. However, Bitcoin and Ethereum have since rallied, with Bitcoin up 2.75% on the five-day window and Ethereum experiencing a 5% intraday gain.
Brian Armstrong Says Coinbase Staying in US Despite Regulatory Pressure
Coinbase CEO Brian Armstrong has stated that his crypto exchange will remain committed to the United States despite regulatory pressure. In an interview with the Wall Street Journal, Armstrong expressed confidence that the crypto industry will achieve the "right outcome" in its battle with regulators.
SEC Designation Causes Cardano, Solana, and Algorand to Plummet to New Lows
The SEC's lawsuit against Binance and Coinbase has caused volatility in the crypto market, with 19 new cryptocurrencies being identified as securities.
SEC Chair Gary Gensler Warns Crypto Market Again, Reiterates Stance on Regulation
US Securities and Exchange Commission (SEC) Chair Gary Gensler has restated his position on cryptocurrency regulation, following recent lawsuits against exchanges Coinbase and Binance. Speaking at the Piper Sandler Global Exchange & Fintech Conference, Gensler reiterated the link between the digital assets market and securities laws, and warned that non-compliance could lead to further enforcement actions.
JP Morgan Releases Report on Future of US Crypto Regulations Amidst SEC Lawsuits and Legal Ambiguity
The SEC has filed charges against Coinbase and Binance, two major global crypto exchanges, which will have significant implications for the future of cryptocurrencies. JPMorgan has released a research report examining the potential impact of this legal conflict on the formation of US crypto regulations.
