Financial News

U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception," piling further pressure on the world's biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months.

Brian Armstrong and CZ have seen respective net worth losses of 11.8% and 5.1% since the SEC sued Coinbase and Binance.

Digital tokens can likely continue to trade as the agency pushes for tighter regulations, an effort that could take years but would upend the decentralized sector if it succeeds.

NEW YORK (AP) — Stocks drifted on Wall Street amid a vacuum of market-moving data. The S&P 500 rose 0.2% Tuesday. The Dow Jones Industrial Average closed up 10 points while the Nasdaq added 0.4%.

On-chain data from Glassnode shows market participants averting risk and seeking shelter in stablecoins and BTC as the crypto market nears a decisive move.

Several states also brought regulatory actions including Illinois, where more than 140,000 accounts hold investments in Coinbase offerings totaling more than $228 million, according to hearing notice from Secretary of State Alexi Giannoulias.

The FTSE 100 gained 0.4% on Tuesday

NEW YORK (AP) — U.S. stocks are drifting Tuesday amid a vacuum of market-moving data, while U.S. regulators shook the cryptocurrency market again by filing charges against another mega player in the industry. The S&P 500 was 0.

NEW YORK (AP) — The Securities and Exchange Commission sued cryptocurrency platform Coinbase on Tuesday, charging the company with operating an unregistered securities platform and brokerage service.

Wall Street crept modestly lower for a second straight day Tuesday, following a weekslong rally that carried markets to an 10-month high.

Projects are racing to create legal coin mixers that preserve privacy while revealing just enough data to stay on the right side of the law.

Major crypto exchange Kraken investigated an issue with crypto funding gateways, including BTC, ETH, and ERC-20, with users experiencing delays in deposits and withdrawals.