- COIN saw an almost double-digit percentage decline right after the SEC sued Binance.
- Coinbase itself is in a legal war against the SEC.
- COIN is trending higher in the premarket.
Centralized crypto exchanges have had tough two years during the bear market. Multiple have gone bust, and others have experienced decreased volumes.
Meanwhile, other exchanges have been suffering from a harsh regulatory environment.
Coinbase Impacted by SEC’s Move Against Binance
Coinbase, the second largest cryptocurrency exchange, was in a weird situation yesterday after the U.S. Securities and Exchange Commission (SEC) sued its rival, Binance.
Right after the SEC announced the lawsuit, Coinbase shares started plummeting. At one point, COIN was down around 10%. It ended the trading day trading at $58.71, down 9.05%, according to data from Yahoo! Finance.
COIN is currently up by 0.50% in the premarket.
