![]() ![]() Still, the coin is up 23.23% year-to-date (YTD), although it has fallen 59.5% from its all-time high (ATH) of $686 that it hit in May 2021.īNB is up a whopping 697,400% since hitting an all-time low of $0.0398 over five years ago in Oct. BNB: The Native Token of the Binance EcosystemĪs of writing, BNB is trading at almost $277, down 14.5% in the past two weeks. Meanwhile, both Marathon Digital (MARA) and Riot Blockchain (RIOT) recorded a decline of over 9%. Additionally, several bitcoin mining stocks took a hit, too, with Bitfarms (BITF) dropping by more than 6%. “We cannot afford to ignore crypto while other markets take advantage of our absence, developing rules and regulations that enable the industry to thrive and risk sending jobs, investment, and technological leadership overseas.”īesides Coinbase, shares of MicroStrategy (MSTR), which holds Bitcoin on its balance sheet, fell almost 9%. “The US is falling behind,” tweeted Grewal. Meanwhile, on Monday, Paul Grewal, chief legal officer of Coinbase, tweeted that he will be testifying before the House Committee on Agriculture on Tuesday regarding the need for clear crypto rules as well as the Digital Asset Market Structure discussion draft released Friday. The trading platform has also requested a court to compel the agency to respond publicly to their petition from July 2022 asking for clearer crypto regulation guidelines. According to Armstrong, these places have clearer rules for crypto firms than the US, making it easier to operate there.Ĭoinbase then argued back in April that the SEC's move undermined its own role as the monitor of companies registering to sell shares to the public. CEO Brian Armstrong has also been meeting with the Abu Dhabi and Dubai regulators. Since then, Coinbase has been expanding its presence in other countries, such as Canada. ![]() The publicly traded company itself received a warning from the SEC earlier this year in March that it may also receive enforcement action related to the listing of potential unregistered securities. The shares of the largest crypto trading platform in the US, Coinbase (COIN), dropped more than 10%. Not just tokens but shares of crypto-related stocks also got hammered in tandem with the broad market losses. Meanwhile, the total crypto market cap has recorded a drop of 3.8% to now stand at $1.135 trillion.īNB is the 4th largest cryptocurrency with a market cap of $43.7 billion and has been managing over $1.5 billion in 24-hour trading volume. It marked BNB's biggest one-day drop so far this year. The crypto market took a tumble on Monday, which is continuing today after the US Securities and Exchange Commission (SEC) sued the world's largest crypto exchange Binance for allegedly running an illegal operation in the US.Īs the price of Bitcoin dropped under $25,500 and Ether below $1,800, BNB lost more than 11% of its value as it fell to about $272. ![]()
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