After the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the world's largest cryptocurrency exchange, Binance, for violating U.S. securities regulations, the stock prices of $Coinbase Global, Inc.(COIN)$ dropped by 9.1%, and $MicroStrategy(MSTR)$ by 8.5%. Bitcoin (BTC-USD) also experienced a loss of 5.8% in Monday's trading.The SEC alleges that Binance and its CEO, Changpeng Zhao(CZ), mishandled customer funds and secretly funneled them into a separate entity controlled by Zhao. As the cryptocurrency industry continues to grow, regulatory bodies are increasingly focused on ensuring compliance with securities and trading laws. This puts pressure on the entire cryptocurrency sector, p
Bitcoin Cracks $30,000, What's Next?
Some industry proponents touted the crypto asset as a "safe haven," like gold, as recession fears return to the forefront.