Bitcoin and shares of crypto-linked companies slid after the CFTC sued Binance. sheldonreback reports.
, the world's largest cryptocurrency exchange by trading volume, and CEO Changpeng Zhao.
Coinbase , the only U.S. publicly traded crypto exchange, fell 9.1% as of 15:25 UTC . Shares of bitcoin mining companies Marathon Digital , Riot Blockchain and Hut 8 Mining all slid more than 7%. MicroStrategy – which earlier MondayBitcoin, the largest cryptocurrency by market cap, lost $1,000 to below $27,000. Binance's exchange token,Filed in the U.S.
The company, said the CFTC, operated a derivatives trading operation in the U.S., offering trades for numerous cryptocurrencies, all of which the CFTC said are commodities. The suit also alleged that Binance, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks.
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