Crypto-Related Stocks Drop Alongside Bitcoin on CFTC Binance Suit

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Bitcoin and shares of crypto-linked companies slid after the CFTC sued Binance. sheldonreback reports.

, the world's largest cryptocurrency exchange by trading volume, and CEO Changpeng Zhao.

Coinbase , the only U.S. publicly traded crypto exchange, fell 9.1% as of 15:25 UTC . Shares of bitcoin mining companies Marathon Digital , Riot Blockchain and Hut 8 Mining all slid more than 7%. MicroStrategy – which earlier MondayBitcoin, the largest cryptocurrency by market cap, lost $1,000 to below $27,000. Binance's exchange token,Filed in the U.S.

The company, said the CFTC, operated a derivatives trading operation in the U.S., offering trades for numerous cryptocurrencies, all of which the CFTC said are commodities. The suit also alleged that Binance, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks.

 

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CFTC binance sheldonreback Why don’t they just say: - we want American banks to take control on crypto in the US - any company with a Chinese CEO will be banned in the US - move the blockchain technologies to Dubai or Singapore ( which are btw great places to live..)

CFTC binance sheldonreback Biden is going to make the USA run out of crypto companies

CFTC binance sheldonreback Ignore FUD

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