Coinbase Financial News

Crypto is the top choice for Gen Z investors, driven by their exposure to technology, social media, and easy investment access, according to a joint report by American finance industry organizations the CFA Institute and the Financial Industry Regulatory Authority (FINRA).

Bitcoin’s price lost steam after a failed retest of the $27,400 resistance on June 6, signaling that investors became less confident after the recent regulatory actions by the United States Securities and Exchange Commission (SEC) against Binance and Coinbase. Both exchanges are being sued on multiple counts, including failure to register as licensed brokers and offering unregistered securities. 

Securities and Exchange Commission Chair Gary Gensler laid into the crypto industry on Thursday, arguing that it is possible for exchanges to register with the agency, despite platforms’ assertions that they tried to do just that. 

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Despite not having been named by the US Securities and Exchange Commission (SEC) as a crypto security in the agency’s double whammy of lawsuits against Binance and Coinbase announced earlier this week, the Litecoin (LTC) price is struggling. 

The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance.

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.

The crypto community minted 140,830 non-fungible tokens (NFTs) in a collection previously launched by the exchange giant Coinbase with a goal to make the US regulators provide the much-needed and "sensible crypto policy."

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission.

Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation. The U.S. Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a «web of deception». If successful, the lawsuits could transform the crypto market by successfully asserting the SEC's jurisdiction over the industry which for years has argued that tokens do not constitute securities and should not be regulated by the SEC. «The two cases are different, but overlap and point in the same direction: the SEC's increasingly aggressive campaign to bring cryptocurrencies under the jurisdiction of the federal securities laws,» said Kevin O'Brien, a partner at Ford O'Brien Landy and a former federal prosecutor, adding, however, that the SEC has not previously taken on such major crypto players.

Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far.

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.

The regulatory crackdown on crypto in the US has certainly intensified with the Securities and Exchange Commission’s (SEC) lawsuit against Binance and Coinbase, but our timeline shows that the crisis has already been ongoing for a long time.

Check out the companies making the biggest moves midday.

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. 

Following the Securities and Exchanges Commission (SEC) lawsuit, US-based crypto exchange, Coinbase, has received multiple Show Cause orders from US states. 

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. 

On Tuesday, the U.S. Securities and Exchange Commission (SEC) filed an emergency action to freeze the assets of crypto exchange Binance's U.S. subsidiary, repatriate the assets held on behalf of its customers, and seek other emergency relief actions against other Binance-affiliated entities.

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The same day cryptocurrency exchange Coinbase was served with a lawsuit from the United States Securities and Exchange Commission (SEC), ARK Invest added more stock to its Coinbase holdings.