Bitcoin and Ethereum Prices Resilient Amidst Bleak Market Conditions and US SEC Lawsuits
Bitcoin and Ethereum prices are showing resilience due to positive macro factors, despite bleak market conditions caused by US SEC lawsuits against Binance and Coinbase and selling pressure on Cardano, Solana, and Polygon. Investors are preparing for key events this week, including US CPI and PPI data, the US Federal Reserve's monetary policy decision, and interest rate decisions by the European Central Bank and Bank of Japan.
Major Crypto Exchange Trading Volumes Slashed By Over 30%
The world's top crypto exchanges have experienced a significant drop in trading volumes over the past 24 hours, likely due to the fallout from the US Securities and Exchange Commission's crackdown on crypto exchanges.
Everything You Need to Know About the Regulatory War On Crypto
Dear Investors, It has been a tumultuous week as both Binance and Coinbase faced legal actions from the SEC and the CFTC, while the possibility of further action from the DOJ remains imminent. “King Gensler.” Source: Crypto A.M. Before we dive, let’s do a quick review of what these agencies actually do.
Cryptocurrencies Experience Significant Drop in Value Following SEC's Enforcement Actions Against Binance and Coinbase
The SEC's recent enforcement actions against Binance and Coinbase for alleged securities law violations caused a significant drop in value for several major cryptocurrencies, including Solana, Polygon, and Cardano. The SEC's lawsuit against Binance also sparked discussions and reactions on Twitter, with users expressing their opinions and concerns about the regulatory agency's actions.
Former SEC Chief Faults Coinbase's Defense Against Regulator
Former Chief of the SEC Office of Internet Enforcement, John Reed Stark, has criticized Coinbase Global Inc's defense against the markets regulator. The trading platform's argument that the regulator approved its IPO and therefore has a good understanding of its business is flawed, according to Stark.
SEC Lawsuits Against Binance, Binance.US, and Coinbase Trigger $4 Billion in Outflows
Blockchain data from Nansen and Glassnode reveals that the recent SEC lawsuits against Binance, Binance.US, and Coinbase have resulted in a significant outflow of approximately $4 billion in deposits. The three exchanges collectively experienced a net outflow of $3.1 billion through the Ethereum network, along with an additional $864 million in bitcoin.
Crypto Industry Faces Legal Turmoil as SEC Targets Binance and Coinbase, Decentralized Exchanges Surge
Both Binance and Coinbase have faced lawsuits from the SEC, with Binance accused of conducting unregistered token sales and Coinbase accused of offering digital currencies viewed as securities. Decentralized exchanges have seen a surge in trading volume following the news.
Long-Term Bitcoin Holders Unfazed by Binance and Coinbase Lawsuits, Glassnode Data Shows
Long-term Bitcoin holders are not affected by the recent lawsuits filed against Binance and Coinbase by the SEC, according to data from Glassnode.
Coinbase CEO Responds to SEC Lawsuit with Optimism for Clear-Cut Regulations
Coinbase CEO, Brian Armstrong, has responded positively to the SEC's lawsuit against the company, stating that it presents an opportunity to establish clear regulations for the industry.
SEC Lawsuit Against Coinbase Over DASH's "Security" Classification Sparks Debate in Crypto Community
The SEC has identified several tokens listed on Coinbase and Binance, including DASH, as "security." The DASH community disputes this classification, arguing that its decentralized technology as a payments system does not warrant it. The SEC accuses DASH of being an unregistered security due to the existence of a centralized "core group" dedicated to its development, but the DASH community claims that this group has not existed since 2017 and they have no expectation of profit. The crypto rating council has given DASH a score of 1.0 in its evaluation of the security concept, which is the same score as Bitcoin.
