The expansion came following a “productive dialogue” with the U.K. Prime Minister and “months of constructive conversations” with UK policymakers, a16z’s general partner said.
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'Near impossible to know' what is and isn't a security: Mark Cuban on SEC
Billionaire investor Mark Cuban has become one of the latest industry figures to call out the United States securities regulator for purportedly failing to provide cryptocurrency firms with a clear registration process.
The Shark Tank investor claimed in a June 11 Twitter post that no registration exists in the SEC’s “Framework for “Investment Contract” Analysis of Digital Assets” document, making it “near impossible to know” what constitutes a security in the “crypto universe.”
“Unfortunately none of the elements presented in this page are part of the registration process. Which makes it near impossible to know, with or without an army of securities lawyers, what is or is not a security in the crypto universe.”
While a step-by-step outline isn’t provided, the document does briefly explain what is required for firms pursuant to U.S. federal securities laws.
Among the requirements included the need to disclose all information necessary for investors to make “informed investment decisions” and other “essential managerial efforts” that impact the success of the enterprise.
'Near impossible to know' what is and isn't a security: Mark Cuban on SEC
The billionaire is the latest to argue that the United States Securities and Exchange Commission hasn’t provided crypto firms with a registration process to follow.
ALGO, FLOW rebound from all-time lows, others rebuff SEC securities label
The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all-time price lows following the declaration.
On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data.
Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10.
ALGO's seven-day price chart shows a drop to its all-time low with a slight recovery after. Source: CoinGeckoLast week the Securities and Exchange Commission (SEC) sued crypto exchanges Binance and Coinbase on June 5 and 6 respectively. In the process, it labeled 16 new cryptocurrencies as securities, including FLOW and Internet Computer (ICP).
ALGO was highlighted in the SEC’s case against Binance but was first singled out in its April lawsuit against Bittrex.
A sideways Bitcoin price could lead to breakouts in ETH, XRP, LDO and RNDR
If BTC price consolidates in the $25,000 range, ETH, XRP, LDO and RNDR could be the first altcoins to break out with recovery rallies.
A sideways Bitcoin price could lead to breakouts in ETH, XRP, LDO and RNDR
Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67.
Among the mayhem, a minor positive is that Bitcoin (BTC) and Ether (ETH) have held out relatively well. This suggests that institutional investors are not panicking and dumping their positions. Due to their outperformance, Bitcoin’s dominance has risen to a year-to-date high of 47.6% and Ether’s to 20%.
Crypto market data daily view. Source: Coin360The uncertainty in the near term is likely to keep several investors on the sidelines. During this period, the cryptocurrencies that have held out generally tend to do well when the market sentiment improves.
Let’s look at the top-5 cryptocurrencies that are trying to sustain above their respective support levels and are attempting to start a rebound. What are the important support and resistance levels to keep an eye on?
Bitcoin price analysis
Bitcoin once again dipped to the crucial support at $25,250 on June 10, indicating that the bears are keeping up the pressure. The repeated retest of a support level within short intervals tends to weaken it.
A sideways Bitcoin price could lead to breakouts in ETH, XRP, LDO and RNDR
Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67.
Among the mayhem, a minor positive is that Bitcoin (BTC) and Ether (ETH) have held out relatively well. This suggests that institutional investors are not panicking and dumping their positions. Due to their outperformance, Bitcoin’s dominance has risen to a year-to-date high of 47.6% and Ether’s to 20%.
Crypto market data daily view. Source: Coin360The uncertainty in the near term is likely to keep several investors on the sidelines. During this period, the cryptocurrencies that have held out generally tend to do well when the market sentiment improves.
Let’s look at the top-5 cryptocurrencies that are trying to sustain above their respective support levels and are attempting to start a rebound. What are the important support and resistance levels to keep an eye on?
Bitcoin price analysis
Bitcoin once again dipped to the crucial support at $25,250 on June 10, indicating that the bears are keeping up the pressure. The repeated retest of a support level within short intervals tends to weaken it.
SOL is not a security, says the Solana Foundation
The SEC has labeled the SOL token as a security in two separate lawsuits filed on June 5 and June 6 against crypto exchanges Binance and Coinbase.
SOL is not a security, says the Solana Foundation
The SEC has labeled the SOL token as a security in two separate lawsuits filed on June 5 and June 6 against crypto exchanges Binance and Coinbase.
U.S. Senator Lummis revamps efforts for crypto regulations amid SEC lawsuits
The regulatory framework will allow individuals and companies to own and trade digital assets in America.
U.S. Senator Lummis revamps efforts for crypto regulations amid SEC lawsuits
The regulatory framework will allow individuals and companies to own and trade digital assets in America.
Hong Kong legislator invites Coinbase to the region amid SEC scrutiny
Hong Kong fosters a favorable environment for industry growth amid its active regulation and dedication to becoming a digital hub.
Hong Kong legislator invites Coinbase to the region amid SEC scrutiny
Hong Kong fosters a favorable environment for industry growth amid its active regulation and dedication to becoming a digital hub.
The US will find the 'right outcome' for crypto, eventually – Coinbase CEO
In an interview with WSJ, Coinbase CEO Brian Armstrong explained that entrepreneurs who left the United States will return when the government finds the "right outcome" for crypto regulation.
The US will find the 'right outcome' for crypto, eventually – Coinbase CEO
During an interview with WSJ, Coinbase CEO Brian Armstrong explained that entrepreneurs who departed from the United States will return when the government finds the "right outcome" for crypto regulation.
FTX authorized to 'permanently redact' customer names from all bankruptcy filings
The court has granted FTX permission to remove customer names from all bankruptcy filings in an effort to protect them from scams and identity theft.
Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10
The SEC sues Binance and Coinbase, and labels dozens of coins as securities. Both the crypto exchanges paused services while promising legal battles in courts.
Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10
Top Stories This Week
U.S. SEC sues Binance and Coinbase amidst crypto crackdown
Binance and Coinbase have been targeted in a new round of lawsuits by the U.S. Securities and Exchange Commission (SEC) against crypto businesses. The regulator pressed 13 charges against Binance on June 5, including those involving unregistered offerings and sales of tokens, and failing to register as an exchange or broker-dealer. The commission also went after Coinbase on similar grounds, alleging that popular cryptocurrencies offered by the exchange are securities. Trading volume across the major decentralized exchanges jumped 444% in the hours following the legal actions. In the six months after FTX’s bankruptcy, SEC crypto-related enforcement actions rose 183%.
SEC lawsuits: 67 cryptocurrencies are now seen as securities by the SEC
The total number of cryptocurrencies the United States securities regulator has labeled as a “security” has now reached an estimated 67, after adding a few more to the list in its lawsuit against crypto exchanges Binance and Coinbase. In its case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification, while it named 13 cryptocurrencies in its Coinbase suit. The “security” label now applies to over $100 billion worth of the market, or around 10% of the $1.09 trillion total crypto market capitalization.
Coinbase CEO Brian Armstrong sold company shares the day before the SEC lawsuit against the exchange. The transaction caused a minor stir in the Twitter cryptoverse, as Armstrong avoided a sharp loss by doing so. SEC records show that Armstrong sold 29,730 shares of the company on June 5, the day before the SEC suit. Armstrong has been selling Coinbase stock regularly since November under a 10b5-1 plan adopted in August, which determines the timing and size of transactions in advance. The net worths of Armstrong and Binance CEO Changpeng Zhao have suffered heavy blows due to the suits. Within 30 hours, Armstrong’s net worth plummeted by $289 million and Zhao’s by $1.33 billion.
Binance.US suspends USD deposits, warns of fiat withdrawal pause
Binance.US has suspended U.S. dollar deposits and announced an upcoming pause for fiat withdrawals as early as June 13. According to the exchange, it was forced to take action amid “extremely aggressive and intimidating tactics” from American regulators. Trading, staking, deposits and withdrawals in crypto remain fully operational. Binance.US also delisted eight Bitcoin pairs and two BUSD pairs while noting that OTC Trading Portal services were paused.
June 2023 has proven to be a tumultuous month for cryptocurrency exchanges in America. Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service starting June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move, which has been exacerbated by testing prevailing market conditions. American retail users still have access to cryptocurrency derivatives trading and the UpDown Options offering.
Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10
Top Stories This Week
U.S. SEC sues Binance and Coinbase amidst crypto crackdown
Binance and Coinbase have been targeted in a new round of lawsuits by the U.S. Securities and Exchange Commission (SEC) against crypto businesses. The regulator pressed 13 charges against Binance on June 5, including those involving unregistered offerings and sales of tokens, and failing to register as an exchange or broker-dealer. The commission also went after Coinbase on similar grounds, alleging that popular cryptocurrencies offered by the exchange are securities. Trading volume across the major decentralized exchanges jumped 444% in the hours following the legal actions. In the six months after FTX’s bankruptcy, SEC crypto-related enforcement actions rose 183%.
SEC lawsuits: 67 cryptocurrencies are now seen as securities by the SEC
The total number of cryptocurrencies the United States securities regulator has labeled as a “security” has now reached an estimated 67, after adding a few more to the list in its lawsuit against crypto exchanges Binance and Coinbase. In its case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification, while it named 13 cryptocurrencies in its Coinbase suit. The “security” label now applies to over $100 billion worth of the market, or around 10% of the $1.09 trillion total crypto market capitalization.
Coinbase CEO Brian Armstrong sold company shares the day before the SEC lawsuit against the exchange. The transaction caused a minor stir in the Twitter cryptoverse, as Armstrong avoided a sharp loss by doing so. SEC records show that Armstrong sold 29,730 shares of the company on June 5, the day before the SEC suit. Armstrong has been selling Coinbase stock regularly since November under a 10b5-1 plan adopted in August, which determines the timing and size of transactions in advance. The net worths of Armstrong and Binance CEO Changpeng Zhao have suffered heavy blows due to the suits. Within 30 hours, Armstrong’s net worth plummeted by $289 million and Zhao’s by $1.33 billion.
Binance.US suspends USD deposits, warns of fiat withdrawal pause
Binance.US has suspended U.S. dollar deposits and announced an upcoming pause for fiat withdrawals as early as June 13. According to the exchange, it was forced to take action amid “extremely aggressive and intimidating tactics” from American regulators. Trading, staking, deposits and withdrawals in crypto remain fully operational. Binance.US also delisted eight Bitcoin pairs and two BUSD pairs while noting that OTC Trading Portal services were paused.
June 2023 has proven to be a tumultuous month for cryptocurrency exchanges in America. Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service starting June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move, which has been exacerbated by testing prevailing market conditions. American retail users still have access to cryptocurrency derivatives trading and the UpDown Options offering.
Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10
The SEC sues Binance and Coinbase, and labels dozens of coins as securities. Both the crypto exchanges paused services while promising legal battles in courts.