Coinbase is reportedly under investigation by the SEC for listing tokens that should have been registered as securities.
| | | 📈 30 Second Cryptocurrency Price Summary |
| Bitcoin price has continued to erase gains from its recent recovery, falling below the $21,000 mark overnight. |
| Top-20 altcoins have taken a hefty hit, as Ethereum tumbles 10%, BNB drops 6% and Polygon is the biggest loser with an 11% fall. |
Top Stories for July 26, 2022 🔥 |
| Coinbase is reportedly under investigation by the US Securities and Exchange Commission (SEC) for listing tokens that should have been registered as securities. |
| The SEC investigation follows another by the agency, which is alleging insider trading at the exchange – one which also views the assets involved as securities. According to unnamed sources, the insider trading investigation was the second of the two cases to be launched. |
| Nine crypto assets were labelled by the SEC as securities last week, seven of which are listed on Coinbase. |
| The Commodities and Futures Trading Commission (CFTC) is setting up a new Office of Technology Innovation, which will prepare the agency for a larger role in regulating crypto. |
| A House bill named the "Responsible Financial Innovation Act" would put put the CFTC at the helm of oversight on non-security digital assets. The new office will replace LabCFTC, the CFTC's existing financial technology team. |
| The US Federal Reserve will be announcing its next adjustment to interest rates tomorrow, with most traders (77.5%) anticipating a rate hike of 75 basis points. |
| A 100 basis-point rise is not out of the question, with 22.5% of traders expecting a record-breaking rate hike according to CME's FedWatch. Inflation in June was higher than expected, reaching a shocking 9.1%. |
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