Major cryptocurrencies targeted as unregistered securities in SEC lawsuits against Binance and Coinbase continued their sharp declines. $BNB lost 5% over the last 24-hours and Algorand's $ALGO 8%. LedesmaLyllah writes in First Mover Americas
slid 5.2%. Bitcoin has remained somewhat of a safe haven, but only on a relative basis. The cryptocurrency is down modestly over the past 24 hours, but still remains near a three-month low at $26,400.operating its crypto staking service despite facing lawsuits from state and federal regulators over the program and several of its other offerings
. “We're not going to wind down our staking service,” said CEO Brian Armstrong Wednesday at the Bloomberg Invest Conference. “As these court cases play out, it's really business as usual,” he added. Armstrong noted that the exchange’s staking service accounts for about 3% of Coinbase’s overall net revenue. His comments came after the SEC on Tuesday sued Coinbase for a swath of violations, including allegations the company sold unregistered securities.
The move could be called a throwback – a counter-trend move that takes prices down to the breakout price.Trending Posts
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