“We are different than ___,” the crypto exchange said in a statement. On June 7, cryptocurrency exchange Binance published a statement on its Chinese social channels with the hashtag #StrongTogether. Amid ongoing litigation with the United States Securities and Exchange Commission, Binance said its wallet addresses are transparent and that the exchange never “siphoned consumers’…
Read more
Ark Invest CEO Cathie Wood upped her stake in Coinbase after a US regulator accused the exchange of operating unlawfully. Three Ark Investment Management LLC funds, including Wood’s Ark Innovation ETF, bought 419,324 shares of Coinbase on Tuesday, according to Bloomberg News, citing its data. The price of Coinbase shares slumped to as low as…
Read more
The country’s financial watchdog claimed it was very difficult to accept the acquisition requests amid accusations of securities laws violations. The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea. A report published in a South Korean daily suggests that the Financial Service Committee (FSC)…
Read more
One of the latest SEC filings in its lawsuit against Binance claims billions of customer funds are at the “mercy” of Binance CEO Changpeng Zhao. The United States Securities and Exchange Commission (SEC) has filed another document in its lawsuit against Binance.US, claiming investors’ funds are at risk. In the filing entered on June 5,…
Read more
Popular brokerage firm Robinhood is reconsidering its cryptocurrency offerings after the Securities and Exchange Commission took action against two major digital asset trading platforms earlier this week. During a meeting focused on digital assets, Dan Gallagher, Robinhood’s legal chief and a former SEC commissioner, told Congress that the brokerage was reviewing the regulator’s analysis to…
Read more
Binance, the world’s largest cryptocurrency exchange by trade volume, saw significant outflows of bitcoin, ethereum, and stablecoins starting on June 3, 2023, according to data from cryptoquant.com. In the past 68 hours, Binance has seen bitcoin outflows of around 15,438 BTC worth more than $420 million. SEC Lawsuit Against Binance Results in Significant Outflows Amid…
Read more
The U.S.-based exchange said it is “fully operational” and called the Securities and Exchange Commission’s motion “unwarranted.” Crypto exchange Binance.US has attempted to quell possible unrest from its users following a motion from the United States securities regulator seeking to freeze its assets “on an expedited basis.” In a June 6 tweet, Binance.US reiterated that…
Read more
Coinbase, one of the leading cryptocurrency exchanges globally, faces a lawsuit from US regulators, hot on the heels of similar legal action against Binance, another industry heavyweight. The Securities and Exchange Commission (SEC) accused Coinbase of operating illegally without prior registration, a mandatory requirement for securities trading firms in the US. Considering this recent macroeconomic…
Read more
The SEC has accused Binance of mishandling funds and operating an unregistered securities exchange. The United States Securities and Exchange Commission (SEC) filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6, requesting eight actions. The requested actions include…
Read more
Dogecoin was one of the biggest losers in crypto markets on Tuesday, as markets continued to react to the United States Securities and Exchange Commission (SEC) suing Binance and Coinbase. The global cryptocurrency market lost nearly 4% of its value in today’s session. Solana was another notable mover, falling by 9% today. Dogecoin (DOGE) Dogecoin…
Read more
