—the second civil complaint targeting the crypto exchange in recent months, after an earlier lawsuit from the federal Commodity Futures Trading Commission.according toBinance is not the only cryptocurrency tanking on Monday: Bitcoin dropped more than 5.5% to a two-month-low of $25,620, while Ethereum fell nearly 5% to $1,803 and Dogecoin decreased by more than 8% to just under 7 cents.
to use the main Binance exchange. Zhao denied the allegations, calling the suit “unjustified” and one of many of the SEC’s “misguided actions” targeting crypto.Shares of leading crypto broker Coinbase have also tumbled so far on Monday, falling by more than 10.5% to $57.69, though it’s still up more than 71% on the year.
between August and December 2022 involving roughly $1.8 billion it shifted to hedge funds without informing its customers, who were told the tokens were 100% backed,reported in February. The shifting marked a series of internal movements eerily similar to those at the bankrupt crypto company FTX. Binance had alsoof a non-binding agreement in November to purchase FTX’s non-U.S.
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