BNB price drops as the US Securities and Exchange Commission probe Binance.US

The SEC is probing Zhao's ownership stakes of market makers on Binance.US and whether the exchange has conducted broker-dealer activities. This has led to an extended drop in the BNB price. Binance Coin (BNB), which is the native token of Binance, has dropped from trading at above $311 on Monday, June 6, 2022, to trading The post BNB price drops as the US Securities and Exchange Commission probe Binance.US appeared first on Invezz.

Timeline of Bnb

The price of Binance Coin (BNB) is in a downtrend as the price falls below the moving averages. Last week, bulls broke above the 21-day line SMA twice, but were rejected. BNB is now trading below the moving averages, indicating further downward movement of the cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance's BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP

As regulatory activities begin to rally within the cryptocurrency space, the mantle of battling the Securities and Exchange Commission (SEC) has now been passed to Changpeng Zhao, the CEO of Binance. On 6 June, it was reported that the SEC has launched an investigation into whether Binance Holdings Ltd, the owners of BNB tokens broke

The CoinLoan platform has expanded its range of instruments with the introduction of BNB, the Binance utility token making the top five of largest cryptocurrencies by market cap. It is the first step to the integration of CoinLoan with the BNB Smart Chain, a stable and cost-efficient blockchain that enables its users to: create powerful apps buy, trade, and hold digital assets take advantage of large capacity and high speed of transactions The CoinLoan users are sure to benefit from vast opportunities that the integration will open up.

According to Bloomberg, the U.S Securities and Exchange Commission is looking into whether Binance Holdings breached securities laws. These allegations pertain to when the exchange released its BNB cryptocurrency in an initial coin offering (ICO) five years ago.

The SEC has opened an investigation into Binance to determine whether its BNB token was a security offering when sold in 2017, Bloomberg News reported. The post SEC legal action over BNB token prompts fears over which altcoin is next appeared first on CryptoSlate.

Binance coin (BNB), the native token of the world's largest crypto exchange Binance, has extended losses as new regulatory scrutiny and media investigation have once again put the exchange in the spotlight - albeit not in a positive manner.

Binance is reportedly looking to fill 500 job vacancies across the world. This is despite the crypto winter activity of other exchanges laying off employees (Gemini) and rescinding offers (Coinbase).

Suggested: The Binance team has refuted claims by Reuters that the crypto exchange is a hub for hackers, fraudsters, and drug traffickers. Binance states that it is at the forefront of the fight against global money laundering.

The Pyth network, a specialized oracle solution for “latency-sensitive” financial data that is typically kept behind the “walled gardens” of centralized institutions, recently announced the deployment of its first-party financial data on BNB Chain, a “community-driven,” “decentralized” and “censorship-resistant” blockchain, and integration with BNB Application... Read More