Bitcoin (Somewhat) Takes Binance Accusations in Stride

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

The binance accusations haven’t been the kind of disaster for crypto that investors have come to expect in June, GWilliamsJr_CMT writes in this week’s “Crypto Long & Short” newsletter.

But here’s the rub: I personally don’t think that the SEC cares much about “safe and secure” in this instance. What they seem to care about is the word “separate.” And if, through the movement of assets, any customer funds touched an account held by Zhao, even for a millisecond, the SEC will likely jump at the opportunity to throw a punch at Binance.

It will be interesting to see what ultimately constitutes a “loophole,” along with how many international jurisdictions agree. The Q&A between Warren and Assistant Secretary of the Treasury for Terrorist Financing Elizabeth Rosenberg implies that they would seek international coordination as they take their fight to crypto.

Where daily average returns for the month of June ranked sixth among all months between 2014-2020, its returns from 2021-2023 rank last. The result of the turmoil was a 37% decline in bitcoin during June 2022 from almost $32,000 to $19,966, falling as low as $17,690 at one point. And, almost a year to the day, we receive news of the SEC’s action versus Binance. The market response was notable, with prices declining 5.4% on higher than average volume.

It would appear that as each punch is thrown, the assets themselves have certainly taken a hit, but less so than the entities being targeted, which are often centralized in nature.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance NFT Marketplace Now Supports Bitcoin NFTs | Binance SupportFellow Binancians, Binance NFT Marketplace is excited to announce that the Bitcoin network has been added to its list of supported chains, further expanding the NFT ecosystem for its community. The...
Source: binance - 🏆 561. / 51 Read more »

BNB Plunges 9% as Binance Faces Lawsuit, Exchange's Bitcoin Reserves Record Significant Outflow – Bitcoin NewsBinance's BNB token suffered significant losses, dropping by 9.7% against the dollar in response to the SEC's allegations.
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin, Ethereum Technical Analysis: BTC Falls Below $26,000, as SEC Sues Binance – Market Updates Bitcoin NewsBitcoin plunged to its lowest point in over two months, as markets continue to react to the SEC versus Binance lawsuit.
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin Trading at Premium on Binance US Amid SEC Lawsuit and Asset Freeze Motion – Bitcoin NewsAs of June 7, 2023, recent data reveals that the value of bitcoin (BTC) is experiencing a premium on the Binance US exchange.
Source: BTCTN - 🏆 531. / 51 Read more »

Binance Faces Legal Action by SEC for Violating US Securities Laws – Bitcoin NewsBinance faces another lawsuit as the U.S. Securities and Exchange Commission (SEC) files a case in the District of Columbia.
Source: BTCTN - 🏆 531. / 51 Read more »