{"id":7428,"date":"2023-06-06T04:33:45","date_gmt":"2023-06-06T04:33:45","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=7428"},"modified":"2023-07-03T04:48:42","modified_gmt":"2023-07-03T04:48:42","slug":"sec-goes-after-binance-crypto-markets-down","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/sec-goes-after-binance-crypto-markets-down\/","title":{"rendered":"SEC Goes After Binance, Crypto Markets Down"},"content":{"rendered":"

Trending Tokens on BTSE:<\/b><\/p>\n\n\n\n\n\n\n\n
Asset<\/b><\/div><\/td>\n
Price<\/b><\/div><\/td>\n
24h %<\/b><\/div><\/td>\n<\/tr>\n
Bitcoin (BTC)<\/span><\/a><\/div><\/td>\n
$25,765.00<\/div><\/td>\n
-4.63%<\/div><\/td>\n<\/tr>\n
Ethereum (ETH)<\/span><\/a>\u00a0<\/span><\/div><\/td>\n
$1,813.88<\/div><\/td>\n
-3.56%<\/div><\/td>\n<\/tr>\n
Wilder World (WILD)<\/span><\/a><\/div><\/td>\n
$0.4389<\/div><\/td>\n
-27.09%<\/div><\/td>\n<\/tr>\n
\n

Ribbon Finance<\/span><\/a><\/p>\n<\/div><\/td>\n

$0.1637<\/div><\/td>\n
+2.56%<\/div><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/span><\/p>\n

(as of\u00a0 2:45 AM UTC, June 6, 2023)\u00a0<\/span><\/i><\/p>\n

 <\/p>\n

Overnight in Asia, the news broke of the Securities and Exchange Commission (SEC) in the United States suing Binance, Binance.US, and Binance founder Changpeng Zhao for violations of securities regulations in the country. This massive development has sent ripples through almost all crypto prices, most notably Bitcoin (BTC), which is now trading as low as US$25,765, down 4.63% in the last 24 hours, at a price level not seen since March this year. Ethereum (ETH) has seen a similar downturn, trading at US$1813.88 at time of writing, down 3.56% from the day before.\u00a0<\/span><\/p>\n

The SEC in the United States<\/span> accuses Binance and its founder<\/span><\/a> of \u2018comingling customer funds\u2019, failure to register as a clearing agency, failure to register as a broker and failure to register as an exchange. Despite the suit, however,<\/span> this is not the first time Binance has locked horns with the SEC<\/span><\/a>, where the SEC made similar accusations of Binance illegally targeting US consumers.<\/span><\/p>\n

Outside of cryptocurrency, traditional financial markets across the world remained relatively steady. The US S&P 500 <\/span>saw a small drop of 0.2%<\/span><\/a>, despite an overall upward trend this week, the Nikkei 225<\/span> trended upwards in the last 24 hours by 0.41%<\/span><\/a>. Despite the steadiness of the markets overall, publicly traded cryptocurrency exchange Coinbase experienced an <\/span>almost 9% drop in its stock price<\/span><\/a> in the last 24 hours, which analysts link to the aforementioned SEC suit against Binance.\u00a0<\/span><\/p>\n

On the other side of the world, in Australia, some <\/span>contrastingly positive regulatory news has come out of the Australian central bank<\/span><\/a>, the Reserve Bank of Australia (RBA). In response to an inquiry about a bill to regulate digital assets, the RBA stated that it \u2018supports the development of regulatory arrangements for stablecoins\u2019 on the condition that protections and safeguards are in place for investors and users, and that stablecoins could \u2018become widely used for payments\u2019 in the country.\u00a0<\/span><\/p>\n

 <\/p>\n

Trade Bitcoin on BTSE <\/span>here<\/span><\/a>.<\/span><\/p>\n

Join our Telegram news channel <\/span>here<\/span><\/a>.<\/span><\/p>\n

 <\/p>\n

\n

Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i>feedback@btse.com<\/i><\/a> or on Twitter @BTSE_Official.<\/i><\/p>\n

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Trending Tokens on BTSE: Asset Price 24h % Bitcoin (BTC) $25,765.00 -4.63% Ethereum (ETH)\u00a0 $1,813.88 -3.56% Wilder World (WILD) $0.4389 -27.09% Ribbon Finance $0.1637 +2.56%             \u00a0 (as of\u00a0 2:45 AM UTC, June 6, 2023)\u00a0   Overnight in Asia, the news broke of the Securities and Exchange Commission (SEC) in […]<\/p>\n","protected":false},"author":1,"featured_media":7341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-7428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"yoast_head":"\nSEC Goes After Binance, Crypto Markets Down — BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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