BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $25623 | 5.24% |
| ETHEREUM | $1805 | 4.09% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.14 T | 3.80% |
| TRADING VOLUME | $54.30 B | 98.17% |
TOP 5 GAINERS
| Indices | LTP | Change (%) |
|---|---|---|
| Unitrade | $0.15 | 575.64% |
| Singularity | $0.00040 | 298.75% |
| X | $0.000039 | 99.12% |
| ExchangeCoin | $0.0053 | 56.26% |
| Zodium | $0.0023 | 46.98% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| SmartCash | $0.00018 | 58.56% |
| GleecCoin | $0.011 | 52.38% |
| LunaChow | $0.00000019 | 46.59% |
| Sifchain | $0.000099 | 44.31% |
| DefiKingdoms | $0.083 | 36.76% |
On Tuesday morning in Asia, a widespread market downturn gripped the top 10 non-stablecoin cryptocurrencies, with Bitcoin experiencing a nearly 6% decline and Ether losing 5%. The catalyst for this downturn was the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Binance, a prominent cryptocurrency exchange, and its founder Changpeng Zhao, citing securities violations. The BNB token, issued by Binance, bore the brunt of the impact, suffering a significant drop of over 10% within the past 24 hours.
Major Events Around the World
The United States Securities and Exchange Commission (SEC) has recently classified several leading digital currencies as investment contracts, thereby deeming them unregistered securities. This announcement was made in the wake of charges filed against Binance Exchange and the cryptocurrencies it listed, including Binance Coin (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS), and COTI.
The Securities and Exchange Commission (SEC) has filed a civil suit against Binance, the world's largest cryptocurrency exchange, in Washington D.C.'s federal court. The lawsuit accuses Binance of operating as a thinly-veiled shell game, with its founder, Changpeng Zhao, and then Chief Compliance Officer (CCO) allegedly using customer accounts for personal gain while evading U.S. regulations and sidestepping American regulatory oversight.
During Monday's keynote event, a product associated with the Render network (RNDR) was highlighted. This product offers distributed GPU rendering on the blockchain, which is a game-changer for the industry. Recently, there has been a surge in popularity for artificial intelligence-based crypto tokens such as Render and SingularityNET. However, despite widespread expectations, AI chatbots and other products have yet to integrate crypto payments. It is anticipated that the 2023 Apple Worldwide Developers Conference will pave the way for crypto integration with the launch of the Vision Pro headset. This development will undoubtedly revolutionise the industry and provide exciting opportunities for investors and consumers alike.
COIN GABBAR Views: Will the US SEC Launch Additional Crypto Lawsuits like Ripple (XRP)? Binance CEO Labels Allegations an Industry-Wide Assault. BTC Bulls' Confidence Shaken by SEC Lawsuit, Raising Doubts on Bitcoin's Bottom. Stay tuned for updates and the latest news us at www.coingabbar.com
Also read: Metropolitan Museum Returns $550K: Why FTX's Political Donations Are Coming Back?
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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