The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s initial coin offering of its Binance Coin (BNB) crypto token, which was launched in 2017. At the time, it was unregistered with the SEC, according to sources cited by Bloomberg. The initial coin offering occurs when a company offers its cryptocurrency for the first time to public investors.
“As the industry has grown at a rapid pace, we have worked very diligently to educate and assist law enforcement and regulators in the United States and abroad, while respecting new guidelines,” a Binance spokesperson told Coindesk.
The global crypto market capitalization fell 4.83% to $1.21 trillion as of 8:50 a.m. However, global crypto volume grew by 57.96% to $80.97 billion, according to data from Coinmarketcap.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $29,437.39, down 4.85% in the past 24 hours. Ethereum (ETH) fell 6.7% to $1,739.57.
The market leader was trading at around $31,000 at the start of the week and is currently trading slightly below $30,000. Ether is down around 7% in the past 24 hours, with major altcoins following a similar pattern. Currently, volatility is waning in the crypto markets, but the fear and greed index continues to register in extreme fear territory. Sharp dives with Bitcoin will most likely be unexpected,” says Gaurav Dahake, CEO and Founder of Bitbns.
Among other major coins, Cardano (ADA) was down 1.42% at $0.5822, Algorand (ALGO) was trading with a loss of 5.01% at $0.3834, Solana (SOL) was trading with a loss of 4.3% to $39.02, Polkadot (DOT) was down 7.58% at $8.98, and Binance Coin (BNB) was down 6.5% at $285.78.
Today’s top gainer was GOMA Finance (GOMA) which rose 1262.45% to $0.000000003921. The big loser was Revolotto (RVL), which lost 90.55% to $0.01065.
Meme Coin and DeFi prices
Dogecoin (DOGE) fell 4.71% to $0.07885. Its volume to market capitalization ratio is 0.05475. Rival Shiba Inu (SHIB) was down 4.64% at $0.00001051.
Dogelon Mars (ELON) was down 6.74% to trade at $0.0000004289, Floki Inu (FLOKI) was down 3.92% at $0.000008326 and Samoyed Coin (SAMO) was down 0.54% at $0.005657.
In the DeFi segment, YFI (yearn.finance) was down 5.4% at $7,217.60, and Terra Classic (LUC) was trading with a loss of 9.3% at $0.0000736. Avalanche (AVAX) fell 9.13% to $23.49, Uniswap (UNI) traded with a loss of 4.6% to $5.02 and Aave (AAVE) fell 9.51% to $98.99.