Shares of the Coinbase crypto exchange collapsed by more than 9% due to a lawsuit against Binance

Yesterday it became known that the SEC decided not to restrain itself and filed a lawsuit against Binance. The document contains 13 charges, including securities trading. Against this background, the shares of the Coinbase crypto exchange collapsed.

What Happened to Coinbase Shares

Yesterday, the shares of the cryptocurrency exchange Coinbase ended with a drop in shares. The indicator was more than 9 percent. This is how the market reacted to the SEC's lawsuit against the Binance cryptocurrency exchange and its founder Changpeng Zhao.

At the moment, the decline in capitalization was able to reach more than 13.5 percent. The agency filed a lawsuit with 13 charges, which included a tirade about unregistered offers, trading in BNB and DUSD cryptocurrency assets, etc.

The lawsuit additionally claims that the cryptocurrency platform was unable to register as an exchange, broker-dealer or clearing agency. At the same time, the founder was also sued, since he is a controlling person.

In early spring, a lawsuit was also filed by the US regulator CFTC. In his opinion, the platform violated the rules for the sale of derivatives, since it does not have the necessary registration. At the same time, the agency claims that the crypto exchange deliberately evades American legislation.

Also in March, the Coinbase crypto exchange sent a notification from the SEC department. It spoke about the beginning of an investigation into the listing on the site and related products. According to analysts, the lawsuit against Binance may be the beginning. The next one will be the Coinbase exchange.

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