Bitcoin and ether made out well this week, while newly targeted crypto coins named in the SEC's lawsuits and Coinbase itself took a hit.
It's "business as usual at Coinbase" while the crypto market waits for the exchange's legal battle with the SEC to unfold over the coming months, possibly years. This week the Securities and Exchange Commission continued its crackdown on the crypto industry, suing the largest exchange in the world, Binance, on Monday only to go after the largest exchange in the U.S., Coinbase, the following day.
They're all able to be bought or sold for consideration, trade at the same price as another unit of the same asset, are equal in value to any other one token, and don't give investors any special rights not available to other investors in that asset. The market cap of crypto 'securities' fell CryptoQuant's "SECurities" index fell about 14% following the lawsuit, while the market cap of bitcoin and ether has basically remained flat.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase price target cut by Berenberg amid SEC legal showdownBerenberg Capital Markets cut its price target on Coinbase shares to $39 from $55 in the wake of an SEC lawsuit against the crypto exchange.
Read more »
Crypto regulation: SEC lawsuits 'existential' for Coinbase, BinanceHere's what the SEC's 'all-out assault' on crypto means for the market's 2 biggest players
Read more »
Moody’s revises outlook on Coinbase to negative after SEC lawsuitMoody’s on Thursday changed its outlook on crypto exchange Coinbase Global Inc. to “negative” from “stable” after the SEC this week charged the company with...
Read more »