Crypto Giants Face Regulatory Pressure and Banking Restrictions
TL;DR Summary
Four of the 10 most valuable coins plunged in value by at least 15% this week, following SEC Chair Gary Gensler's attack on the crypto industry, suing Coinbase and Binance for securities violations and casting doubt on the future of token trading. The SEC alleged that at least 13 crypto assets available to Coinbase's customers were considered "crypto asset securities." Trading app Robinhood followed by announcing that it will no longer support trading of coins from Cardano, Polygon and Solana.
- Crypto tokens plummeted on concern Gensler is expanding SEC crackdown CNBC
- Banks are cutting off Binance's access to U.S. banking system, exchange says CNBC
- Cathie Wood Maintains $600,000 Bitcoin Forecast, Defends Coinbase Shares Purchase Amid SEC Battle - Tesla Benzinga
- Op-ed: Why the SEC should stay away from crypto (Part I) CryptoSlate
- Why crypto giants Binance and Coinbase have had a very rough week MSNBC
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