The fact that Coinbase shares (COIN) have lost more than 10% in value in line with the lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and CEO Changpeng Zhao (CZ) has raised questions.
After shares of the largest US cryptocurrency exchange Coinbase were sued by the SEC against rival cryptocurrency exchange Binance and CEO CZ for violating US securities laws 10.5% lost value.
This sharp drop in the share price brought to mind that Coinbase, which recently received a Wells notice from the SEC, may be pricing in the news of a possible lawsuit, which is likely to be the next target of the regulator after Binance.
Coinbase from SEC in March serious signals of possible sanctions carrying a Wells statement had received.
Coinbase from SEC in the future clarify regulatory uncertainty and which cryptocurrencies securities He wanted him to clearly indicate which ones were not, but when he could not get the desired response, the regulator sued the institution.
According to the data, the effect of the news flow 10.5% depreciating Coinbase shares, $63.37 from the level $55.82 as much as it declined. COIN, at the time of writing from $56.87 is being traded.