Crypto Prices Drop as CFTC Sues Binance Over Trading Violations
07/04/2023 12:20
Bitcoin touched a 10-day low and smaller cryptocurrencies also declined after Binance Holdings Ltd. was sued by the US Commodity Futures Trading Commission for allegedly breaking trading and derivatives rules.
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Bitcoin touched a 10-day low and smaller cryptocurrencies also declined after Binance Holdings Ltd. was sued by the US Commodity Futures Trading Commission for allegedly breaking trading and derivatives rules.
Binance, which exploded onto the crypto scene in 2017 and almost immediately took on and surpassed larger rivals, saw its market share surge after last November’s collapse of FTX. It accounts for about 60% of crypto spot and derivatives trading volume. The company has argued that the global exchange is not subject to US jurisdiction because it has no headquarters.