Business / Tech | ANALYSIS Jun 9, 2023
U.S. SEC crackdown on Coinbase and Binance puts crypto exchanges on notice
The lawsuits expand the overall number of cryptocurrencies that the U.S. regulator has explicitly identified as securities.
The lawsuits expand the overall number of cryptocurrencies that the U.S. regulator has explicitly identified as securities.
The SEC alleges that, among other things, Binance artificially inflated its trading volumes, diverted customer funds and failed to restrict U.S. customers from its platform.
Company documents reveal the tactics behind founder Sam Bankman-Fried's regulatory agenda, including the terms of a deal announced earlier this year with IEX Group.
While Blockchain.com has largely pulled back from unsecured lending, many crypto lenders remain confident about the practice.
Just as customers at traditional banks earn interest on their savings in dollars, crypto users that deposit their bitcoin at crypto lenders also earn money, usually in cryptocurrency.
Compared with the Fed's last tightening cycle, cryptocurrency is a much bigger market, raising concerns about its interconnectivity with the rest of the financial system.