SEC Drops Lawsuit Against Coinbase

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• Cryptocurrencies: 12.03M

• Exchanges: 797

• Market Cap: $2.71T (-3.45%)

• 24h Volume: $129.67B (-16.02%)

• Bitcoin Dominance: 59.8%

• Ethereum Dominance: 9.8%

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• Fear & Greed Index: 21/100 (Fear)

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1. henlo/WETH – $0.082571 (+121%)

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💹 Market Highlights:

• Total DeFi Volume: $7.7B (5.94% of total 24h volume)

• Stablecoins Volume: $123.63B (95.34% of total 24h volume)

• Coin with Highest % Change: SHELL (+18.87%)

📈 Preview On Today’s News:

1. - SEC Drops Lawsuit Against Coinbase

2. - BitMEX Up for Sale Following $100M Fine for Regulatory Violations 

3. - Mask Network Founder Loses $4 Million in Crypto Theft on Birthday

Keep reading below for more!

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Today’s News:

1)

SEC Drops Lawsuit Against Coinbase

The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Coinbase Inc. and Coinbase Global Inc., marking a significant turning point for the cryptocurrency industry. The lawsuit, which accused Coinbase of operating an unregistered securities exchange, was dismissed through a joint stipulation. Acting Chairman Mark T. Uyeda acknowledged the need for a more transparent approach to crypto regulation, emphasizing that the newly established Crypto Task Force would lead this change. Coinbase CEO Brian Armstrong hailed the decision as a pivotal moment for regulatory clarity in the U.S. crypto industry. This move reflects a broader shift in the SEC’s stance on crypto under new leadership, with potential implications for other high-profile cases involving Ripple Labs and Kraken.

• The SEC dismissed its lawsuit against Coinbase, signaling a shift towards transparent crypto regulation under new leadership.

• The decision is seen as a win for regulatory clarity in the U.S. crypto industry, with potential impacts on other high-profile cases like Ripple Labs and Kraken.

2)

BitMEX Up for Sale Following $100M Fine for Regulatory Violations 

Cryptocurrency exchange and derivatives platform BitMEX is seeking a buyer after being fined $100 million for violating the Bank Secrecy Act by failing to implement adequate Anti-Money Laundering (AML) and Know Your Customer (KYC) programs. The company has enlisted Broadhaven Capital Partners to manage the sale. The fine follows guilty pleas from BitMEX and its founders, Arthur Hayes and Benjamin Delo, who admitted to willfully failing to maintain AML procedures between 2015 and 2020. The move comes amid a wave of potential acquisitions in the crypto sector, with other platforms like Deribit also exploring takeover bids.

• BitMEX is seeking a buyer after paying a $100 million fine for Bank Secrecy Act violations, involving inadequate AML and KYC programs.

• The sale follows guilty pleas from the founders, occurring amidst broader acquisition interest in the crypto industry, including Deribit's potential takeover.

3)

Mask Network Founder Loses $4 Million in Crypto Theft on Birthday

Mask Network's founder, Suji Yan, reported a $4 million crypto theft from his public wallet shortly after celebrating his 29th birthday. The attack, which occurred while his phone was briefly unattended, was linked to a private key loss or offline breach, leading to the transfer of stolen funds, including ETH, WETH, MASK, and USDT, into six different addresses. Yan is cooperating with law enforcement and has engaged blockchain analytics firms SlowMist and ZACHXBT to investigate the incident. Following the news, Mask Network's token value dropped by 7% within 24 hours.

• Suji Yan lost $4 million in crypto from a public wallet due to a private key compromise, with funds moved into six distinct addresses.

• Mask Network's token value fell by 7% after the incident, as investigations continue with the help of blockchain analytics firms and law enforcement.

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