• The SEC recently filed a lawsuit against Binance, causing Coinbase stock to plummet.
• Coinbase is currently in a legal battle against the SEC regarding crypto assets being classified as securities or not.
• Despite this news, COIN is still up 100% since the start of the year.

SEC Filed Lawsuit Against Binance

The U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against Binance, which caused Coinbase shares to drop around 10%. BNB, Binance’s native token, decreased by about 8% following the news. It’s currently trading at $279, according to data from CoinGecko.

Coinbase Fighting Against the SEC

Coinbase itself has been fighting against the SEC for quite some time now. In March, Coinbase received a Wells Notice from the SEC informing that they might take legal action due to uncertainty regarding whether crypto assets are securities or not. In response, Coinbase sued the SEC in an attempt for them to clarify their stance on crypto assets being securities or not. The SEC has been seeking to dismiss this case ever since then.

COIN Still Up 100% Since Start of Year

Despite this news of its rival being sued by the SEC and itself battling with them in court over crypto asset regulations, COIN is still up by almost 100% since the start of 2021. This indicates that many investors are still confident with Coinbase’s future despite all these issues occurring simultaneously.

Rocket Pool Deployment on zkSync Era

Rocket Pool will be allowing users to stake ETH on Ethereum Layer-2 zkSync Era soon enough as part of their deployment process which will further aid decentralized finance applications built on Ethereum Layer-2 networks like zkSync & Optimistic Rollups like Arbitrum . Circle will also be deploying USDC on Arbitrum shortly which will make it easier for developers working within DeFi space with layer-1 optimizations .

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