Court Partially Dismisses SEC's Lawsuit Against Coinbase, Kucoin Charged by DOJ and CFTC for AML Violations

Mar 27, 2024
Market Update Crypto markets are declining following news that most of the SEC’s lawsuit against Coinbase will proceed (more below). $BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind for ETF flows. Inflows yesterday totaled $418 million, helping to offset last week’s record outflows. $ETH (-1.78%) is trading near $3,500, as Fidelity filed an S-1 for its Ether Spot ETF this morning, posing interesting timing given the recent pessimism surrounding potential approvals. Fetch.AI ($FET), SingularityNET ($AGIX), and Ocean Protocol ($OCEAN) have agreed to merge into an “Artificial Superintelligence Alliance” to create one token (ASI) encompassing all three protocols with an FDV of $7.5 billion, pending governance approval. All three respective tokens have surged over 10% following the proposed merger. The SEC brought a lawsuit against Coinbase last summer, alleging the platform was operating an unregistered exchange, broker, and clearinghouse under federal securities laws, and through its staking platform

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

MARKET UPDATE U.S. TREASURY YIELDS AND THE DXY 0.00% CONTINUE PUSHING UPWARDS, PUTTING DOWNWARD PRESSURE ON RISK ASSETS. THE SPY -0.83%  HAS DECLINED 0.53%, BREAKING BELOW $530, AND THE QQQ -0.89%  HAS DECREASED 0.42% TO $458. Crypto assets are showing more pronounced losses, with BTC -0.68% (-1.42%) trading in the low $67,000s and ETH -2.19% (-2.29%) hovering near $3,750. Blackrock’s IBIT saw inflows of $102.5 million yesterday, bringing its total AUM to just under $20...

CRYPTO MARKET UPDATE CRYPTO ASSETS ARE BROADLY MOVING HIGHER AGAIN AFTER SOME POST-ETF APPROVAL CONSOLIDATION. BTC -0.68% is back above $68K, while ETH -2.19% is hovering around the $3.7K level. SOL -1.91% is underperforming today, possibly as a side effect of the last of the FTX auction taking place yesterday. Pantera and Figure led the $2.6 billion auction, purchasing the locked tokens at $102 per SOL -1.91% . We often find that the market can...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In