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☆ XRP soars 61% after a judge says the cryptocurrency is not a security in a big win over the SEC
▼ + stars: | 2023-07-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

XRP soared as much as 61% on Thursday after a US judge said certain aspects of the sale of the token did not break federal securities laws. The SEC had sued Ripple for the sale of its XRP token in 2020 for the failure to register XRP as a security. US District Judge for the Southern District of New York Analisa Torres said the XRP token is "not necessarily a security on its face." But there are multiple facets of the ruling and it gets complicated depending on the type of sale of XRP. A motion for summary judgement filed by the SEC in its "aiding and abetting" allegations against Garlinghouse and Larsen was denied.

Persons: Brad Garlinghouse, Christian Larsen, of New York Analisa Torres, Torres, Garlinghouse, Larsen, bitcoin Organizations: SEC, Service, US, Southern, of, of New York, Twitter Locations: Wall, Silicon, of New

☆ EU watchdog calls for early adoption of stablecoin standards
▼ + stars: | 2023-07-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, July 12 (Reuters) - The European Union's banking watchdog urged stablecoin issuers on Wednesday to voluntarily comply with 'guiding principles' on managing risks and protecting consumers ahead of mandatory rules due in a year's time. The European Banking Authority (EBA) published on Wednesday for public consultation its first batch of measures to flesh out MiCAR requirements for issuing a stablecoin that would come into force on June 30, 2024. Separately the EU's European Securities and Markets Authority (ESMA) set out draft rules for so-called crypto asset service providers (CASPs) who trade cryptocurrencies. EBA will issue a second batch of draft rules in October that focus on capital requirements for stablecoin issuers, and how firms should deal with stablecoin redemptions in stressed markets. Reporting by Huw Jones; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: stablecoin, Huw Jones, Paul Simao Organizations: EU, Crypto, European Banking Authority, European Securities and Markets Authority, unbacked, Thomson Locations: unbacked cryptoassets

☆ Why Wagner chief Prigozhin's absence is so damaging to Putin
▼ + stars: | 2023-07-10 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +4 min

Instead, the Kremlin on Monday tried to provide some clarity, after French newspaper Liberation reported a meeting between Putin and Prigozhin on June 29. Dmitry Peskov, the Kremlin spokesman, confirmed in a conference call with journalists the meeting had taken place. I can’t tell you more.”It is important to pause and conjure just how surreal the meeting Peskov is describing sounds. But this is in keeping with the Kremlin’s bid to contain the fallout from Putin’s most dangerous weekend yet. If Prigozhin has been forgiven – as the Kremlin meeting might suggest - then why is there no public acknowledgement of that, a bid to at the least file down the fangs of stray Wagner fighters?

Persons: Yevgeny Prigozhin’s, Alexander Lukashenko’s, Putin, Prigozhin, Dmitry Peskov, ” Peskov, –, Wagner, Lukashenko, Mikhail Khodorkovsky –, Sergey Surovikin, Valery Gerasimov Organizations: CNN, Kremlin, Russia’s, French, Liberation, Defense Ministry Locations: Russia’s Rostov, Belarusian, St . Petersburg, Belarus, Russian, Derbent, Kremlin, Russia, Ukraine

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin touches 13-month high, and Valkyrie refiles for spot bitcoin ETF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brian Mosoff, CEO of Ether Capital, discusses the rush by institutions to list spot bitcoin ETFs. Ether Capital helped launch the world's first spot bitcoin and Ethereum ETFs in 2021.

Persons: Valkyrie refiles, explainers, Brian Mosoff Organizations: CNBC Crypto, CNBC, Ether, Ether Capital

Thin liquidity and big playersCrypto "market depth" has been sitting at very low levels this year. Market depth is a measure of liquidity in a market. According to data firm Kaiko, bitcoin's market depth has fallen 20% since the start of this year. Low liquidity, which has been a feature of the crypto market all year, is also partly behind bitcoin's 80% year-to-date rally. "I think trading volumes and price volatility are two of the most telling indicators of crypto market activity.

Persons: Andriy Onufriyenko, Bitcoin, Kaiko, Jamie Sly, Sly, bitcoin, Clara Medalie, Morgan Stanley, Goldman Sachs, Carol Alexander, Alexander, you've, Vijay Ayyar, Ayyar, CCData's Sly Organizations: BlackRock, CNBC, BTC, Securities, Exchange Commission, Retail, University of Sussex, Citadel, Fidelity Locations: U.S, CoinGecko, Invesco, Blackrock

☆ Bitcoin rallies 17% this week as institutional interest in the asset picks up
▼ + stars: | 2023-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

For many crypto investors, this week felt like the beginning of a new era – and ironically, it was driven by the old guard of financial institutions. Bitcoin ended the week up 17.1% at $30,864.67, according to Coin Metrics, for its best week since March 17. At one point on Friday, bitcoin rose to as much as $31,412.72 , its highest level since June 8, 2022. BlackRock filed an application for its spot bitcoin ETF June 15, spurring a flurry of fund filings from other asset managers. In the past two weeks, bitcoin's trading volume has increased 0.5% on a week-over-week basis, according to JPMorgan.

Persons: Bitcoin, bitcoin, Polygon, Yuya Hasegawa, Invesco, Charles Schwab, CNBC's, it's, Owen Lau, Oppenheimer, Lau, Hasegawa Organizations: Solana, Securities and Exchange Commission, Nasdaq, SEC, BlackRock, Fidelity Digital Assets, Citadel Securities, JPMorgan Locations: Cardano

☆ Supreme Court rules in favor of Coinbase in arbitration dispute
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: +2 min

The justices, in a 5-4 decision, overturned a lower court's ruling involving a user who sued after a scammer stole money from his account. The lower court had let a proposed class action lawsuit proceed while Coinbase pressed its appeal contending that the claims belong in arbitration. The suit accused the company of violating the Electronic Funds Transfer Act by not investigating or recrediting Bielski's account. In both cases, federal judges refused to force the claims into arbitration, as the company argued the user agreements required. Circuit Court of Appeals in 2022 refused the company's requests to put further litigation on hold pending those appeals.

Persons: Coinbase, Brett Kavanaugh, Kavanaugh, irretrievably, Clarence Thomas, Abraham Bielski, duping Organizations: U.S, Supreme, Conservative, Circuit Locations: California, dogecoin, San Francisco

The justices, in a 5-4 decision, overturned a lower court's ruling involving a user who sued after a scammer stole money from his account. The lower court had let a proposed class action lawsuit proceed while Coinbase pressed its appeal contending that the claims belong in arbitration. The justices dismissed a second case that Coinbase had asked it to review. It makes sense that lower court litigation should be paused while an appellate court decides whether a case belongs in court at all." In both cases, federal judges had refused to force the claims into arbitration, as the company argued the user agreements required.

Persons: Coinbase, Brett Kavanaugh, Kavanaugh, irretrievably, Clarence Thomas, Ketanji Brown Jackson, Jackson, Katherine Minarik, Minarik, Abraham Bielski, duping, Andrew Chung, John Kruzel, Will Dunham Organizations: U.S, Supreme, Conservative, Liberal, Circuit, Thomson Locations: California, dogecoin, San Francisco, New York, Washington

☆ Asia markets set for weaker open after Fed forecasts more rate hikes to deal with inflation
▼ + stars: | 2023-06-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

This long exposure picture shows the city's skyline with the Tokyo Tower (C) from Toyosu Gururi Park in Tokyo's Koto district on January 25, 2023. Asia-Pacific markets are set to mostly fall after U.S. Federal Reserve Chairman Jerome Powell forecast more rate hikes this year, saying that "the process of getting back down to 2% has a long way to go." Futures for Australia's S&P/ASX 200 were at 7,274, lower than the index's last close of 7,314.9 and pointing at a second-straight day of losses. Elsewhere, markets in Hong Kong and mainland China, as well as Taiwan are closed for a holiday today. Ether climbed to nearly reach the $1,900 mark, its highest level since June 4.

Persons: Jerome Powell, Powell Organizations: U.S, Federal, Financial Services, Nikkei, Australia's Locations: Tokyo, Tokyo's Koto, Asia, Pacific, Japan, Chicago, Osaka, Hong Kong, China, Taiwan

☆ The betting odds are rolling in for who is favored to win in a cage fight between Elon Musk and Mark Zuckerberg
▼ + stars: | 2023-06-22 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Elon Musk raised the possibility of a hypothetical "cage match," with Mark Zuckerberg, over Twitter. Who has better odds in a physical match-up between Mark Zuckerberg and Elon Musk? Now, oddsmakers are hurriedly putting out betting lines for a cage fight between Zuckerberg and Musk — aged 39 and 51 respectively. Meanwhile, Musk was listed as a +140 underdog, meaning a $100 bet on Twitter's former CEO to win, would net $140. In its prediction, Musk is a -150 favorite, meaning you would have to bet $150 to win $100, while Zuckerberg is a +110 underdog, meaning a $100 bet, would net $11o.

Persons: Elon Musk, Mark Zuckerberg, Instagram, Sportsbooks, Elon, Musk, Zuckerberg, Nurmagomedov's playbook, Johnny Avello, DraftKings, Zuck, Dana White Organizations: Twitter, Meta, Morning, sportsbooks, Elon, UFC, & Sports Operations, TMZ Sports

Robinhood vs. Coinbase: The Biggest DifferencesRobinhood Investing and Coinbase are both popular online investment platforms offering a vast range of investment choices for active traders. Robinhood Account FeaturesRobinhood's virtual library provides a variety of financial research on investing, options trading, and more. Coinbase Account FeaturesThe Basic Coinbase account offers things like trading, crypto rewards, interest rewards, digital storage, and mobile access. Compared to Coinbase, Robinhood is the better option for investors who want to merge traditional investments, such as stocks and ETFs, with more digital assets like cryptocurrencies. Although Robinhood has a significantly more limited crypto selection than Coinbase, Robinhood offers a large variety of investment options.

Persons: Robinhood, Roth, Coinbase Coinbase, Roth IRAs, Coinbase, There's, Louis Oberlander, Henry Rodriguez, Christopher Underwood Organizations: Robinhood, Chevron, Reading Chevron, Coinbase, Trade, Pro, Morningstar, Nasdaq, Better, Bureau, BBB, Gamestop, SEC, Advanced Trade, Inc, New York State Department of Financial Services, New, DFS Locations: cryptocurrencies, New York, Robinhood

☆ Bitcoin eyes third straight day of gains after touching two-month high
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bitcoin rallied for a third straight day after hitting its highest level since mid-April, boosted by BlackRock's (BLK.N) plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces U.S. regulatory scrutiny. Earlier this month, the U.S. Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance. Bitcoin, the world's biggest and best-known cryptocurrency, was last up 5.5% on Wednesday at 29,881.00 after hitting a high of $30,755.00. "It started with BlackRock's Bitcoin ETF filing and now others are following," said Edward Moya, a senior market analyst at OANDA. "Who needs regulatory clarity if you see BlackRock making a move?"

Persons: Bitcoin, Schwab, Edward Moya, Juby Babu, Megan Davies, Sinéad Carew, Hannah Lang, Chris Reese, Richard Chang Organizations: BlackRock's, BlackRock, Street, Citadel Securities, Fidelity, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Bengaluru, New York

☆ Bitcoin Jumps as Traditional Firms Tap Crypto
▼ + stars: | 2023-06-21 | by ( ) www.wsj.com time to read: +1 min

Bitcoin continues to rally, with analysts citing recent moves by traditional financial firms to tap the crypto market as a bet on the industry. BlackRock has filed paperwork with the Securities and Exchange Commission for a spot bitcoin exchange-traded fund. A new cryptocurrency exchange backed by Citadel Securities, Fidelity Investments and Charles Schwab has begun executing trades. Bitcoin has risen close to 8% over the past 24 hours to $28,891, according to CoinDesk. Ether is 5% higher Wednesday, while the Binance token, BNB, is up over 2%.

Persons: Bitcoin, Charles Schwab, Binance Organizations: BlackRock, Securities and Exchange Commission, Citadel Securities, Fidelity Investments, Deutsche Bank, SEC Locations: U.S

☆ Bitcoin hits new high for June as more financial incumbents signal commitment to crypto
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The application came a week after the Securities and Exchange Commission sued two of the biggest crypto exchanges, Binance and Coinbase. The price of bitcoin climbed on Monday as financial institutions continued to give their bitcoin blessing. Then Tuesday morning, a new crypto exchange backed by financial giants Charles Schwab, Fidelity Digital Assets and Citadel Securities announced that it has been live for several weeks trading bitcoin and ether. Many financial incumbents are keen to show enthusiasm for blockchain technology and the ways it can advance old financial infrastructure. Bitcoin has struggled to break out of a narrow trading range this quarter but has yet to fall meaningfully under $25,000.

Persons: Bitcoin, bitcoin, Charles Schwab Organizations: Mobile, BlackRock, U.S, Securities and Exchange Commission, Metrics, Fidelity Digital Assets, Citadel Securities, Fidelity Locations: Barcelona, Spain

☆ EDX crypto exchange goes live offering bitcoin and ether trading, backed by Schwab and Fidelity
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A crypto exchange backed by financial giants Charles Schwab , Fidelity Digital Assets and Citadel Securities has officially launched trading in four crypto assets, the company said Tuesday. EDX Markets first announced its launch plans for a "non-custodial" exchange in September, about two months before the collapse of FTX. The EDX exchange allows trading of bitcoin , ether , litecoin and bitcoin cash – none of which were named "crypto asset securities" in the lawsuits the Securities and Exchange Commission brought against Binance and Coinbase two weeks ago. EDX also has plans to launch a clearinghouse business this year to facilitate the settlement process but will still keep customer assets held at third-party banks and a crypto custodian. The company is set to announce Tuesday that it has closed a second funding round with new investors, including the options-exchange operator Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR and Hudson River Trading.

Persons: Charles Schwab, Binance, EDX Organizations: Fidelity Digital Assets, Citadel Securities, EDX, Sequoia Capital, Virtu, BlackRock, Securities and Exchange Commission, Miami International Holdings Locations: U.S, Hudson

☆ Bitcoin rises 5.1% at $28,211
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Bitcoin rose 5.1% to $28,211 at 20:49 GMT on Tuesday, adding $1,369 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is up 71% from the year's low of $16,496 on Jan. 1. Ether , the coin linked to the ethereum blockchain network, rose 2.98% to $1,788.6 on Tuesday, adding $51.8 to its previous close. Reporting by Nilutpal Timsina in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Nilutpal, Chris Reese Organizations: Thomson Locations: Bitcoin, Bengaluru

☆ A 'truly diversified' portfolio should include bitcoin and ether, Ric Edelman says
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Investors and advisors can't ignore crypto anymore, according to Ric Edelman, founder of Edelman Financial Engines. "It's the first new invention of an asset class in 170 years — the last new asset class was the discovery of oil in the 1850s," he told CNBC Pro at the Digital Assets Council of Financial Professionals' Vision conference in Austin, Texas. "We need to recognize that in order to have a truly diversified portfolio, we need to have exposure to every asset class," he added. "That means advisors need to rethink their notion of portfolio diversification and acknowledge that crypto — like it or not, understand it or not — belongs in a diversified portfolio on a long-term basis." Edelman said to stick to bitcoin and ether — "the Pepsi and Coke of crypto for most folks" — and that you "don't need a lot of it," recommending a low, single-digit allocation as a percentage of a portfolio.

Persons: Ric Edelman, Edelman, DACFP Organizations: Edelman, CNBC Pro, Digital Assets, Financial Professionals, Pepsi, Coke Locations: Austin , Texas

☆ Cryptocurrencies climb to end the week as investors digest BlackRock's bitcoin ETF plans
▼ + stars: | 2023-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

For the week, bitcoin is on track to end just below the flatline, while ether is heading for a 6% loss. Bitcoin was last higher by 4% at $26,419.53, according to CoinMetrics, while ether advanced 3% to $1,718.06. After the bell Thursday, BlackRock — the largest asset manager in the world — filed for spot bitcoin ETF, with Coinbase as its crypto custodian. It's been about 10 years since the first filing for a potential spot bitcoin ETF. The filing comes about a week after the SEC sued its crypto custody partner, Coinbase, for violating securities laws, leaving many questioning the timing of BlackRock's application.

Persons: bitcoin, litecoin, Bitcoin, Gustavo Schwenkler, It's, Mark Connors Organizations: Solana, U.S . Investors, U.S . Securities, Exchange Commission, BlackRock, Coinbase, Leavey School of Business, Santa Clara University, SEC Locations: U.S

The recent crypto platform bankruptcies trapped customer assets now worth around $34 billion, according to Xclaim, which allows creditors to trade such claims. To protect themselves, institutional crypto investors are switching to exchanges that offer stronger asset protection, boosting due diligence on trading partners, and executing trades in smaller chunks, among other new risk management measures, according to executives and industry data. European crypto asset manager CoinShares ramped up its counterparty due diligence after losing 26 million pounds ($32.65 million) in the collapse of FTX. Financial regulators like the SEC say many crypto companies flout applicable rules, meaning risk management still lags the traditional financial sector. "This is inevitably risk we're all carrying in crypto - we have uncomfortable concentration risk on one large exchange called Binance," said Nickel's Crachilov.

Persons: Samed Bouaynaya, Coinbase, Altana, Binance, Anatoly Crachilov, Martin Lee, Nansen, Stephen Richardson, CoinShares ramped, cybersecurity, Jean, Marie Mognetti, Changpeng Zhao, Nickel's Crachilov, Wes Hansen, Hansen, Elizabeth Howcroft, Michelle Price, David Gregorio Our Organizations: Voyager, London, Coinbase, U.S . Securities, Exchange Commission, SEC, Asset Management, Arca, Thomson

☆ Bitcoin drops below $25,000, Tether's stablecoin falls under its dollar peg
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Standard Chartered predicts that bitcoin could fall to $5,000 in 2023 as part of their research on potential market surprises next year. Cryptocurrency prices fell after the Federal Reserve's June meeting, with bitcoin falling below $25,000 for the first time since March. On Thursday, bitcoin was lower by around 4% at $24,866.92, according to Coin Metrics, while ether fell more than 5% to $1,632.47. And selling pressure weighed on Tether (USDT), which lost its peg to the U.S. dollar on most exchanges Thursday, falling to 99 cents in its biggest drop since November. "Given how thin trading volumes are at the moment, a sizable (but not massive) sell order is enough to set off liquidations."

Persons: bitcoin, Altcoins, Polygon's, Cardano's, Stocks, Michael Safai Organizations: Chartered, Federal, Metrics, U.S, Federal Reserve

☆ Bitcoin falls 3.7% to $24,987
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

June 14 (Reuters) - Bitcoin dropped 3.65% to $24,987 at 2103 GMT on Wednesday, losing $947 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 19.5% from the year's high of $31,035 on April 14. Ether , the coin linked to the Ethereum blockchain network, dropped 5.36% to $1,646.1, losing $93.3 from its previous close. Reporting by Yana Gaur in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Yana Gaur, Krishna Chandra Organizations: Thomson Locations: Bitcoin, Bengaluru

Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData. Among major players, for example, solana , polygon and cardano have sunk between 23% and 32%. Bitcoin and ether weren't named in the SEC's lawsuit, nor were stablecoins such as tether and USC Coin. By contrast, bitcoin investors who have held their coins for more than five months appeared relatively calm and accounted for just 1.9% of deposit volume. Investment products tracking altcoins have seen positive - albeit small - net inflows this year, in contrast to bitcoin and ether, Coinshares data showed on Monday.

Persons: Vetle Lunde, Ryan Rasmussen, solana, Lucas Kiely, Alex Thorn, Noelle Acheson, James Butterfield, Lisa Mattackal, Medha Singh, Pravin Organizations: U.S, SEC, K33 Research, solana, Securities, Bitwise Asset Management, Reuters Global Markets, Cardano Foundation, Solana Foundation, Reuters, Polygon Labs, Reuters Graphics Reuters, USC, BTC, ETH, Firmwide Research, Galaxy Digital, Pravin Char, Thomson Locations: cardano, altcoins, Bengaluru

Kraken vs. Coinbase: The Biggest DifferencesCompare Kraken and Coinbase KrakenCoinbase Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. These levels determine which account features you can access, as well as represent the amount of documentation you provide when setting up your Kraken account. Kraken Account FeaturesIf you're an institution or an advanced trader, there's no shortage of services at Kraken. The standard Coinbase account includes crypto trading, Coinbase Earn, Coinbase Card (a Coinbase debit card), wallet services, and more. Coinbase and Kraken are both great cryptocurrency exchanges with large cryptocurrency selections, account features, NFT beta marketplaces, and more.

Persons: Coinbase, Min, webinars —, Kraken, Roth IRAs, Coinbase Waller, you'll Organizations: US Securities and Exchange Commission, SEC, Chevron, Coinbase, Trade, Pro, OTC, Better, Bureau, Inc, New York State Department of Financial Services, New, DFS, iOS Locations: New York, Washington

☆ Binance plans to swap 750 million of token pairs to ensure liquidity
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

June 12 (Reuters) - Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin's liquidity. The move comes amid renewed regulatory scrutiny at the world's largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by the U.S. Securities and Exchange Commission. The swap, set to start after 12 p.m. UTC on Monday, will be held directly with the tether team, the tweet said. Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization. A month later the U.S. arm of Binance said it would remove digital asset token tron from its trading platform.

Persons: Binance, Changpeng Zhao, Zhao, Justin Sun, Mehnaz Yasmin, Medha Singh Organizations: U.S . Securities, Exchange Commission, U.S ., SEC, U.S, Binance, Tron Foundation, Thomson Locations: U.S, Bengaluru

☆ Crypto prices stabilize after plunging on SEC crackdown jitters
▼ + stars: | 2023-06-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The Binance website on a laptop arranged in the Brooklyn borough of New York, US, on Wednesday, June 7, 2023. The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agencys lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. The SEC sued Coinbase and Binance last week, accusing both of selling unregistered securities, among other charges. On Tuesday, the U.S. regulator alleged that Coinbase was operating as an unregistered exchange and broker, and that 13 assets listed on its platform were considered crypto asset securities. On Monday, it also accused Binance of inflating trading volumes, diverting customer funds and misleading customers about its controls, among others.

Persons: Gabby Jones, Coinbase, Ripple's XRP, Binance's, Binance Organizations: Securities and Exchange Commission, Binance Holdings, Coinbase Global Inc, Bloomberg, Getty, U.S . Securities, Exchange Commission, SEC, Polygon's Locations: Brooklyn, New York, U.S

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