Written in CRYPTO he
The United States Securities and Exchange Commission (sec) stirred up the market for cryptocurrencies with the lawsuit filed against the exchanges Binance and coinbase last week, generating multi-million dollar damages and uncertainty for investors.
According to the specialized media in cryptocurrenciesBit Finance, the impacts on the market have had a pause and this week began stabilization, although none of the major coins saw significant growth.
In this sense, the firm grouped the data issued by CoinMarketCap, which evidenced the effects in the last seven days after the SEC’s announcement, the falls by cryptocurrency are detailed below:
- BNB from Binance -twenty%
- ADA -24.8%
- sunshine -29%
- Matic -26.5%
- Shiba Inus -22%
- Dogecoin -14.3%
Likewise, the crypto assets that had falls but not as significant as those shown by the previous currencies are:
- Bitcoin -3.3%
- XRP -3.3%
- ethereum -6.7%
The Bitbank exchange specialist and analyst, Yuya Hasegawa, commented that the outlook may still be negative, because “more bad news” may emerge in relation to the legal process that the company launched. sec.
What does the SEC investigate?
The lawsuit against the company Binance Holdings Ltd, BAM Trading Services Inc., BAM Trading Services Inc. and the chief executive officer (CEO), Changpeng Zhao, revolves around 13 charges for breaching financial securities regulations in the US.
Among the charges are mishandling client funds, allowing US citizens to trade on Binance, and misleading investors.
In addition, the SEC assured that the firm would have diverted billions of dollars to companies controlled by the executive director of the company. During a court filing, they reported that both Zhao and Binance executive Guangying ‘Helina’ Chen obtained ostentatious sums of money from clients through their holding company.