pummeled the digital-asset market on Tuesday morning, with the market declining 5% after the agency sued Coinbase for selling unregistered securities, less than 24 hours after taking similar action against Binance, the world’s biggest crypto exchange.
The market now stands at $1.13 trillion, according to CoinGecko, down 63% from a peak of $3.1 trillion in November. It tumbled tk% on Monday. “Encouragingly, the crypto market reaction to Coinbase so far has been minimal as investors seem to have already priced in a regulatory battle in the U.S.,” says Conor Ryder, research analyst at Kaiko. “The bigger price reaction to the Binance news yesterday is a reflection of the more global impact of Binance on markets,” he adds.
While digital-assets investors may have been braced for the latest SEC suit, that foresight did not extend to Coinbase’s stock, even though the company had been put on
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