Coinbase Shares Plummet on Sec Suit, Shorts Make $307M As Stock Market Crashes
After the SEC sued Coinbase, the company’s stock price fell, and short-sellers pocketed a $307 million intraday mark-to-market profit. According to data research firm S3 Partners, short interest accounts for about 20% of Coinbase’s total stock. Still, short-selling legend Jim Chanos said he was optimistic about his short position: "Fundamentals overlooked are opportunities."
SEC v. Binance: "A web of deception"
The SEC describes the company's "blatant disregard of the federal securities laws".
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.
SEC Seeks Restraining Order To Freeze Binance US Assets
SEC seeks restraining order to freeze Binance US assets.
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.
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.
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.
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.
Binance and Coinbase Charged by SEC for Operating as Unregistered Securities Exchanges and Brokers in Blow to Cryptocurrency Industry
Binance and Coinbase have been charged by the SEC for operating as unregistered securities exchanges, brokers, and clearing agencies, causing concern in the cryptocurrency world. Binance is accused of offering a marketplace for crypto asset securities without proper registration, while Coinbase is accused of facilitating the buying and selling of crypto asset securities without registering as an exchange, broker, or clearing agency. These charges highlight the need for strict regulations and oversight in the cryptocurrency space to ensure investor safety. The recent charges against Binance and Coinbase call for increased transparency, collaboration between regulators, and a renewed commitment to investor protection in the crypto industry. Despite the challenges, investors can still participate in the potential growth of cryptocurrencies with caution and diligence.
SEC Files Lawsuits Against Binance and Coinbase, Sparking Debate Over Crypto Regulations
The SEC has filed lawsuits against two major crypto exchanges, Binance and Coinbase, in an effort to bring investors and issuers in the crypto space into compliance. SEC Chair Gary Gensler addressed concerns about why the suits took so long to come to fruition and whether the SEC's actions will impact fintech innovation.