Crypto Community Stands United with 'Stand With Crypto' NFTs Amid SEC Lawsuit Against Binance and Coinbase
The SEC has filed a lawsuit against Binance and Coinbase, accusing them of violating federal security laws. This has caused a drop in the value of cryptocurrencies and has left many token traders worried about future crypto regulations.
Crypto Venture Firm Paradigm Calls for SEC to Redefine Exchange Regulations from Scratch
Paradigm's special counsel, Rodrigo Seira, and policy director, Justin Slaughter, have criticized the Securities and Exchange Commission's (SEC) redefinition of an exchange, stating that it needs to start over. They argue that the SEC should withdraw its proposed amendments and engage with the DeFi industry to arrive at a valid regulatory approach.
Moody’s Changes Outlook on Coinbase to Negative After SEC Lawsuit
Moody's has revised its outlook on Coinbase from stable to negative following the recent lawsuit by the US Securities and Exchange Commission.
Cathie Wood's Ark Invest Buys Millions in Block Inc (SQ) Shares, Reiterates Bullish Stance on Coinbase and Bitcoin
Cathie Wood's Ark Invest funds have purchased millions of shares in Jack Dorsey's payment firm Square Inc (SQ) and Coinbase (COIN). Wood remains bullish on Bitcoin, reiterating her $1 million target price by 2030 and explaining that the regulatory hurdles faced by Binance will benefit Coinbase.
Solana Foundation Disputes SEC Classification of SOL Token As Unregistered Security
The Solana Foundation is challenging the SEC's classification of its SOL token as an unregistered security. The SEC has filed lawsuits against Binance.US and Coinbase for trading Crypto Asset Securities, including SOL. However, the Solana community at a recent event in New York City appeared unconcerned with the regulatory issues. The SEC also identified several other tokens, including Cardano, Polygon, and Filecoin, as securities in its lawsuits against Binance.US and Coinbase.
Coinbase CEO Sold Shares Before SEC Lawsuit, Avoiding Losses
Brian Armstrong, CEO and co-founder of Coinbase, sold company shares the day before the SEC filed a complaint against the exchange for securities law violations. The sale caused controversy on Twitter, as Armstrong avoided a significant loss. However, it is unclear whether the trade was set up before the news of the SEC action was known to Armstrong. Armstrong has been regularly selling Coinbase stock since November under a pre-determined trading plan.
Shark Tank's Kevin O'Leary Would Fire Coinbase CEO Amid SEC Crackdown on Crypto
Kevin O'Leary, founder of O'Leary Ventures and investor on Shark Tank, has criticized Coinbase's CEO Brian Armstrong for "butting heads" with the SEC and said he would fire him if he worked for him. O'Leary believes that cryptocurrencies are "radioactive waste" for institutional investors until the SEC reaches an agreement with the leaders of the digital asset space.
Cathie Wood: Coinbase Could Benefit from SEC Crackdown on Binance
Cathie Wood, a top investor, believes that Coinbase could benefit from the recent crypto crackdown by the U.S. Securities and Exchange Commission (SEC). In an interview with Bloomberg, Wood criticized the SEC and claimed that the regulator going after Binance, the world's largest crypto exchange, could ultimately help Coinbase.
Apple's Metaverse Plans Could Leave Crypto-Based Projects Behind
While the editor remains optimistic about the future of cryptocurrency, they believe that crypto-based metaverse projects such as Decentraland and the Sandbox are doomed to fail. Decentraland currently has fewer than 500 users, and even Facebook's Meta project has not been successful in attracting users.
Coinbase's Stock Plummets 86% After SEC Lawsuit Alleges Violation of US Securities Law
Coinbase, the largest publicly traded crypto company, has experienced a significant drop in value since its IPO in April 2021. The company was valued at nearly $100 billion when it went public on the Nasdaq, but its stock has since fallen to a market cap of $12.5 billion, an 86% decline, after being sued by the SEC for allegedly violating US securities law.
