BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $26440 | 2.40% |
| ETHEREUM | $1838 | 2.23% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.14 T | 2.10% |
| TRADING VOLUME | $44.10 B | 17.88% |
| Indices | LTP | Change (%) |
|---|---|---|
| ZombieInu(OLD) | $0.00000000025 | 981.32% |
| Dentacoin | $0.0000036 | 47.94% |
| DeFiKingdoms | $0.12 | 41.59% |
| Talken | $0.13 | 39.80% |
| LunaChow | $0.00000027 | 38.00% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| YOLOCash | $0.00066 | 76.04% |
| FutureCoin | $0.12 | 59.95% |
| EmpireCapital | $0.0061 | 41.99% |
| MetalDAO | $1.19 | 36.03% |
| CluCoin | $0.00000000058 | 33.94% |
it to barely maintain its position above the $26,500 mark. Ethereum, the largest competitor to Bitcoin, also experienced a decrease of over 2.23%, causing it to fall below the $1,850 mark once again. Unfortunately, the situation was even more dire for alternative cryptocurrencies.
On Wednesday, the U.S. branch of the world's largest exchange, Binance, made a significant announcement. It stated that it would be removing hundreds of thousands of trading pairs on June 8, 2023. This move comes after the Securities and Exchange Commission (SEC) filed an emergency motion in federal court to freeze the Binance.US platform. As a result, Binance.US has suspended its over-the-counter (OTC) trading portal, and there is no word on when this service will resume. However, the exchange has assured its users that their assets will remain safe and secure with the crypto exchange, and deposits and withdrawals will continue to function normally.
During a recent series of interviews, Coinbase's CEO, Brian Armstrong, staunchly defended his company against a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Armstrong argued that the lack of clear guidelines for the cryptocurrency sector in the United States was the root of the issue. He went on to emphasise his willingness to take the case to the U.S. High Court, if necessary. With over $5 billion on its balance sheet, the California-based Coinbase company has the financial resources to sustain operations and cover legal expenses. Armstrong confidently stated, "I think we're going to be fine going to court." He also expressed his readiness to endure a potentially lengthy legal process, affirming, "Even if this takes some time, that's okay."
A recent lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance has classified several prominent cryptocurrencies, including Cardano (ADA), as securities. However, the CEO of the Cardano Foundation has disagreed with this classification, highlighting the importance of regulatory clarity in the industry.
COIN GABBAR Views: It is difficult to accurately predict the exact consequences of the SEC's actions. The regulatory scrutiny imposed by the SEC has the potential to introduce uncertainty and instability into the cryptocurrency market. Investors and participants in the market should diligently monitor any regulatory announcements and developments from the SEC, as they have the capacity to significantly impact market sentiment and shape the future path of Crypto. Stay tuned for updates and the latest news us at www.coingabbar.com
Also read: SEC Takes Legal Action Against Binance Over Securities Violations
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
