Bitcoin Rises 5% in Market Trading Following SEC Lawsuit Against Coinbase
Bitcoin has risen by approximately 5% in late-afternoon market trading following the announcement of a lawsuit against Coinbase by the SEC. This increase largely reverses the value lost after the SEC filed a lawsuit against Binance and its American arm.
Regulatory Pressure Could Push Crypto Exchanges to Shift Focus Away from the US
Industry experts suggest that the recent regulatory actions taken by the SEC against Coinbase and Binance could ultimately bring regulatory clarity to the industry in the long run, but in the short term, these companies may need to shift their focus elsewhere.
Crypto Market Defies SEC's Attempt to Classify Assets as Securities
Despite the SEC's attempts to classify many crypto assets as securities, the market views them as commodities. The SEC has filed lawsuits against Binance and Coinbase, causing a significant decline in net transfer volume on Binance and a 20% drop in COIN's U.S. trading day opening.
Coinbase CEO responds to SEC lawsuit, welcomes clarity on crypto rules in court
Coinbase CEO Brian Armstrong has responded to the SEC lawsuit against his company, stating that the team is confident in their facts and the law and welcomes the chance to get clarity around crypto rules in court.
Bitcoin Pumps Over 5% After SEC Goes After #Binance and Coinbase in Recent Crackdown on Centralized Crypto Exchanges
Bitcoin pumps over 5% after SEC goes after #Binance and<i> </i>#Coinbase in recent crackdown on centralized crypto exchanges.
US House Agricultural Committee Holds Hearing on Digital Asset Regulation Draft Bill
The United States House of Representatives Agricultural Committee held a hearing on digital asset regulation with an impressive lineup of regulators, including the current and former chairs of the Commodity Futures Trading Commission (CFTC) and Coinbase's chief legal officer.
Coinbase Sees $600M in Outflows As SEC Sues Crypto Exchange and Binance
Coinbase saw a significant increase in user withdrawals on Monday and Tuesday, with net outflows totaling $600 million over a 24-hour period, according to data from Nansen. This surge in withdrawals came after the SEC filed a lawsuit against the crypto exchange for violating federal securities regulations. Traders withdrew $1.38 billion of cryptocurrencies during this period, compared to $771 million of deposits, excluding bitcoin transfers. Similarly, Binance also experienced a surge in withdrawals, with net outflows surpassing $1.2 billion over the past 24 hours according to Nansen data.
Coinbase CEO Says They’re “Proud To Represent the Industry in Court” Against the SEC To Clarify Crypto Rules
Coinbase CEO says they're "proud to represent the industry in court" against the SEC to clarify crypto rules.
Following SEC Lawsuit Against Coinbase, More and More Tokens Are Being Described by the SEC As Securities
Following the SEC lawsuit against coinbase, a growing number of top 20/top 50/top 100 coins are being described by the SEC as securities. Seven other major tokens were also named securities: CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO
Bitcoin Recovers After SEC Sues Coinbase, Traders See Renewed Optimism
Bitcoin (BTC) saw a rebound in its price, reaching $26,250 on Bitstamp, after dipping to nearly three-month lows of $25,350 earlier in the day due to news of the U.S. Securities and Exchange Commission (SEC) suing exchange Coinbase. However, traders remain cautious about potential risks, such as the U.S. government selling BTC or a potential recession. Despite the legal action from regulators, some analysts see cause for renewed optimism, with one trader arguing that the news could mark the low of the correction and another announcing a BTC buy-in below $26,000. The mood among market participants remains positive, with some expecting a broader resurgence in the future.
