![]() SEC's Aggressive Crackdown: Cryptocurrency Industry on Thin Ice ![]() Other crypto companies, such as crypto miners Riot Platforms Inc, Marathon Digital, and Hut 8 Mining, also witnessed declines, per the Reuters article. Coinbase, one of the largest cryptocurrency exchanges, experienced a significant drop in share prices. Binance's cryptocurrency witnessed a sharp decline. Bitcoin and Binance's cryptocurrency experienced significant price drops. The news has had a ripple effect across the crypto market. Market Reaction: Coinbase and Other Crypto Companies Feel the Heat ![]() These charges raise serious questions about the exchange's practices and transparency. The allegations include secret control of Binance.US, artificial inflation of trading volumes, diversion of customer funds, and misleading investors, per a Reuters article, quoted on Yahoo Finance. The SEC's lawsuit accuses Binance and its CEO, Changpeng Zhao, of engaging in deceptive practices and violating U.S. Allegations of Deception and Violations: Binance Under Scrutiny ![]() Binance has stated that it had been cooperating with the SEC's investigations and attempting to reach a settlement. The filing of the lawsuit by the SEC against Binance has created shockwaves throughout the crypto market.īitcoin, the largest cryptocurrency, fell to its lowest level since mid-March. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, the world's largest cryptocurrency exchange. The cryptocurrency market experienced a significant downturn as the U.S. ![]()
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