![]() Shares of Coinbase were last down 1.9% to $53.85.Ĭoinbase did not immediately respond to a request for comment. On Thursday, ratings agency Moody's changed its outlook of Coinbase to "negative" from "stable," citing the potential impact of the SEC's lawsuit. That's because Binance US will take its customers' money under guises like 'still being processed', 'risk management', and other 'technical difficulties'. The Binance and Coinbase SEC lawsuits "introduced a cloud of uncertainty around these assets and, as a result, our team has decided to end support for them," the company tweeted. Just google 'Binance US reddit' and you will find a slew of people crap-talking Binance's US version. Robinhood said it would be removing those three coins effective June 27. All information is provided on an as-is basis and is subject to change without notice. crypto exchanges are likely to be in the firing line as a result of this week's lawsuits, which expand the number of cryptocurrencies that the SEC has identified as securities to include some commonly traded tokens, such as Solana, Cardano and Polygon. Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice or (2) relied upon for any investment activities. ![]() 'REGULATORY GRAY AREA'Ĭrypto companies started out in a regulatory gray area, but the SEC under Chair Gary Gensler has steadily asserted its jurisdiction over the industry, arguing most tokens are securities and should be subject to the same disclosure rules. 'As you may be aware, Binance.US, alongside other companies in our industry, has become the target of aggressive tactics by the United States Securities and Exchange Commission (SEC). Binance US is halting all USD business and going CRYPTO ONLY. EDT (1600 GMT) on Friday, investors had pulled more than $31 million from Binance.US in the prior 24 hours, according to data firm Nansen.īAM Trading, Binance.US's operator, holds customers' funds with California-based Axos Bank, according to a letter from lawyers for BAM Trading to the SEC dated May 26, which was made public by the SEC on Tuesday.Īxos did not immediately respond to a request for comment.īinance.US had struggled to find banking partners after the failure of Signature Bank, the Wall Street Journal reported in April.īinance.US said crypto-denominated trading, deposits, withdrawals and "staking" - where users deposit cryptocurrencies for use in blockchain transactions - would remain fully operational. View community ranking In the Top 1 of largest communities on Reddit. ![]()
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