Coinbase Stock Price Crashes 16% Pre Market Over SEC's New Charges

Coinbase Stock Price Crashes 16% Pre Market Over SEC’s New Charges

Time Stamp: June 6, 2023 9:08 AM
Source Node: 2703583

<!–

What Is Different In US SEC Charges Against Coinbase And Binance?

Ashish Kumar
6 hours ago
24/7 Cryptocurrency News

–>

<!–

renQ finance

–>
<!–
–>

Coinbase Stoke Price Crash: U.S. Securities and Exchange Commission (SEC) on Tuesday announced that it has charged the nation’s biggest cryptocurrency exchange Coinbase (NASDAQ: COIN). The commission alleged that the crypto exchange was operating as an unregistered national securities exchange, broker, and clearing agency. Reacting to the lawsuit, Coinbase stock price witnessed a massive sell off in the pre market session, dropping by almost 16%.

Also Read: “It’s An Attack On The Entire Industry”: Binance CEO On US SEC Allegations

advertisement

Coinbase Stock Price Heads To Another Crash

As per the data, Coinbase stock price declined by 16% before the market opens up for trading. COIN price closed the last session trading at $58.71. However, with the ongoing pre market sentiments, it is expected that to see Coinbase stock price to drop around $48.53.

coinbase crypto news SEC stock price
Source: Google Finance

It is important to note that, COIN price took a hit of around 10% on Monday. This comes after the US SEC pressed charges against the world’s largest crypto exchange Binance and its CEO Changpeng Zhao (CZ). The commission also alleged that 13 crypto assets like Solana (SOL), Cardano (ADA) and Filecoin tokens are considered “crypto asset securities”.

US SEC mentioned that Coinbase failed to register the offer and sale of its crypto asset staking service program. However, an action against Coinbase was expected as the commission earlier served it with a Wells notice.

Recommended Articles

The global crypto market cap is down by more than 4.4% over the past 24 hours to stand at around $1.08 trillion. It’s 24 hour trading volume is up by 64%to stand at $47.5 billion. Bitcoin, the world’s largest crypto price is hovering around $25K price level after dropping 5% in the last 24 hours. Read More Crypto News Here…

<!– !function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src=”https://”+r[m]+”/js/”+o+”.js?v=”+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,”script”,”6167d02f6708c6154c13e3a2″,[“cdn.bmcdn5.com”], 0, new Date().getTime())}(); –> <!–

bitget-images

Bitget is a Leading Derivatives Trading Platform. Sign up & Trade Digital Asset!

Join Now Ad

–>
.text-ad-container { position: relative; padding: 10px 10px 15px; background-color: #fafafa; display: flex; align-items: center;
}
.text-ad-img-container {
width: 100px;
height: 100px;
}
.text-ad-img-container img {
width: 100%;
height: 100%;
object-fit: cover;
}
.text-ad-content-container { display: flex; flex-direction: column; font-family: Montserrat; margin: 0 0 0 10px;
}
.text-ad-content-container h5 { font-size: 22px !important; font-weight: 500 !important; font-family: ‘Montserrat’ !important; line-height: 2.08 !important; color: #222 !important; margin: 0; display: flex;
}
.text-ad-content-container h6 {
font-size: 15px !important; font-weight: normal !important; font-family: Georgia; line-height: 2.5 !important; letter-spacing: 0.07px; color: #444 !important; margin: 0;
}
.text-ad-button { background-color: #19936d !important; margin: 6px 0 0; padding: 5px 14px; display: block; width: fit-content; text-transform: uppercase; font-size: 14px; letter-spacing: -0.3px; font-weight: 600 !important; color: #fff !important; text-decoration: none !important;
} .text-ad { border-radius: 2px; background-color: #fff; width: 25px; height: 25px; color: #444; font-size: 12px; border: 1px solid #b6d0e2; display: flex; font-weight: normal; letter-spacing: 0.07px; justify-content: center; align-items: center; position: absolute; top: 5px; right: 5px;
} @media only screen and (max-width: 768px) {
.text-ad-content-container h6 { font-size: 14px !important; line-height: 2 !important;
}
} @media only screen and (max-width: 600px) {
.text-ad-container {
padding: 5px 0 10px;
}
.text-ad-button {
margin: 10px 0 0;
padding: 4px 12px;
}
.text-ad-content-container {
width: 65%;
margin: 0 0 0 5px;
}
.text-ad-content-container h5 {
display: none;
}
.text-ad-content-container h6 {
font-size: 12px !important;
}
.text-ad {
top: auto; right: 5px; bottom: 5px;
}
}

Mooky Presale

AD

<!–

Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]

Top 10 Web3 Games To Explore In 2023; Here List

–>

<!–

–>

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

<!–

Crypto Stories View all

twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720
Twitter is now worth just 33% of Elon Musk’s purchase price

will_cramer_curse_strike_again_720
Will Cramer Curse Strike Again?

mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720
Mercedes Benz To Release NFT Collection With Fingerprints DAO

–>

Time Stamp:

More from Coingape