Bitcoin and Ether decline, and Coinbase drops double digits after CFTC sues Binance


The Commodity Futures Trading Commission sent the prices of crypto-related stocks and the most popular cryptocurrencies plummeting on Monday after it announced it was suing Binance and its CEO, Changpeng “CZ” Zhao, in federal court.


Bitcoin and Ether, the two leading cryptocurrencies, were down about 3% each over the past 24 hours, a change from the steady climb seen in recent days that saw each hit a monthslong high. The cryptocurrency BNB, which powers the Binance’s BNB chain, was down more than 6%.Many crypto-related stocks were down even more.Shares of competing crypto exchange Coinbase fell just over 10% following the news.



 The company has recently run into its own regulatory trouble, with the Securities and Exchange Commission issuing a Wells Notice to the exchange related to “aspects of the Company’s exchange, our staking service Coinbase Earn, and Coinbase Wallet after a cursory investigation,” Coinbase said last week.Shares of MicroStrategy, the Bitcoin “hodling” company founded by Michael Saylor, were also down more than 7% on Monday afternoon. In a tweet on Monday, Saylor said that the company had repaid a $205 million loan to collapsed crypto bank Silvergate at a 22% discount. Saylor added that the company spent around $150 million on 6,455 more Bitcoin tokens to bring its total holdings to 138,955, worth about $3.7 billion at current prices.This content is not available due to your privacy preferences.Update your settings here to see it.The share price of mining companies also fell. Marathon Digital Holdings was down more than 8%, while Colorado-based Riot Blockchain saw shares drop about 8%. Toronto-based crypto miner Hut 8 was down 6%.The CFTC alleged in a 74-page complaint on Monday that the company “disregarded applicable federal laws while fostering Binance’s U.S. customer base…” 


The agency alleges in the lawsuit that Binance failed to implement know-your-customer and anti-money-laundering procedures, and helped U.S.-based customers "evade the compliance controls Binance purported to implement to prevent and detect violations of U.S. Law."In a Monday tweet, Zhao posted a message with just the number "4," which he previously said meant to ignore FUD, a popular Crypto Twitter acronym for fear, uncertainty, and doubt.This story was originally featured on Fortune.comMore from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from homeExpert advice to keep your money safe during bank failuresUFB Direct savings account is offering an APY above 5%—and with no feesThis is how much money you need to earn annually to comfortably buy a $600,000 home 


Source : [Bitcoin and Ether decline, and Coinbase drops double digits after CFTC sues Binance]( undefined - Yahoo Finance / March 27, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.