Gary Gensler News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX.

In the aftermath of Gary Gensler's latest SEC enforcement actions against the crypto industry, capital is surging to rotate out of top cryptocurrencies ensnared by the SEC v. Binance and SEC v. Coinbase lawsuits.

SEC Chair Gary Gensler once offered to serve as an advisor to Binance in 2019, according to lawyers representing Binance and founder Changpeng Zhao, CNBC reports. 

Coinbase CEO Brian Armstrong said he was met with a “pretty icy reception” when chatting with Securities and Exchange Commission Gary Gensler about registering his exchange.

Ether’s price retested $1,780 after the news of the United States Securities and Exchange Commission (SEC) suing cryptocurrency exchanges Binance and Coinbase, but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support. 

Ark Invest CEO Cathie Wood upped her stake in Coinbase after a US regulator accused the exchange of operating unlawfully. 

Gary Gensler – chairman of the U.S. Securities and Exchange Commission (SEC) – sees “parallels” between Binance and its failed competitor FTX’s handling of customer assets. 

Amid a turbulent week for major cryptocurrencies following the wide-reaching lawsuit by the SEC against Binance, memecoin markets are enjoying a healthy week - with key memecoins being invigorated by new influx of capital.

Binance, another blow to the industry. The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a «web of deception» to evade U.S. laws, among other charges. Reuters earlier reported that Binance controlled its US affiliate's bank accounts, despite claiming it was independent. The SEC also said Binance artificially inflated trading volumes on the platform, diverted customer funds and failed to restrict U.S. customers from its platform and misled investors about market surveillance controls. Bitcoin, the world's biggest cryptocurrency was down 5.45% after falling to its lowest level since mid-March following the news. Binance's cryptocurrency fell 9.72%.

The United States Financial Services Committee has scheduled a hearing on digital assets to discuss digital assets and provide clarity for the ecosystem. 

The United States securities chair has hinted at “parallels” between crypto exchange Binance and collapsed exchange FTX — namely their alleged use of sister firms to move funds. 

A number of memecoins drawing their likeness from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in price following the regulator's lawsuits against crypto exchanges Coinbase and Binance.

The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator.

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.

Cryptocurrency markets just experienced a big intraday drop in response to the US Securities and Exchange Commission (SEC) revealing that it has sued Binance, its US subsidiary Binance.US and the exchange’s founder Changpeng Zhao (CZ).

The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities.

Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao of breaking US securities rules, a major escalation in the legal woes facing the crypto exchange. In a case filed in US federal court on Monday, the US Securities and Exchange Commission alleged that the firm flouted investor protection rules by operating unregistered exchanges, misrepresenting trading controls and selling unregistered securities, among other violations. “Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law,” SEC Chair Gary Gensler said in a statement. “The public should beware of investing any of their hard-earned assets with or on these unlawful platforms.” A representative for Binance didn’t immediately respond to a request for comment. On Twitter, Zhao said his team would review the complaint. The case follows a lawsuit from the US derivatives watchdog in March that alleges Binance and Zhao routinely broke its rules. At the time, the exchange and Zhao defended their compliance efforts and called the lawsuit by the Commodity Futures Trading Commission disappointing, while also pledging to keep working with regulators.

The world's leading cryptocurrency has recently faced a significant challenge as the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, a major cryptocurrency exchange. 

Conversations with crypto firms have been constructive, but they also need to be compliant with securities laws, said US Securities and Exchange Commission Chair Gary Gensler.

It's not been a good day for Coinbase (COIN) so far: The crypto exchange is being sued by the U.S. Securities and Exchange Commission (SEC), ten state regulators have the company in their sights, and Coinbase stock has dropped almost 14% in early trading.