Coinbase, Robinhood, and representatives from the United States commodities regulator testified before Congress on June 6 to discuss a newly proposed crypto bill and SEC chair Gary Gensler's regulation by extreme enforcement that many are calling a gross overreach of power.
PBN Research
Gensler/ Binance Meeting
https://twitter.com/EleanorTerrett/status/1666611140560863232
Cathie Wood
The SEC sued both Coinbase and Binance earlier this week for allegedly offering unregistered securities, among other charges, in separate cases. Wood said:
“We have Binance under increasing regulatory scrutiny for more criminal activities, fraud being one of them, therefore we have the competition for Coinbase disappearing, so that’s a good thing longer term for Coinbase.”
Massive Crypto Influx
Data acquired by Finbold indicates that the number of crypto users has soared to 417.5 million as of 2023, representing a year-over-year (YoY) growth of 36.88%. This translates to an addition of 112.5 million users compared to the 305 million recorded in 2022.