The market bets on Coinbase
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by Lado Okhotnikov:
June have become rich in cryptocurrency market news. The
focus is on the SEC's legal attack on the largest cryptocurrency exchanges
Coinbase and Binance. Also, BlackRock has been applied to issue a bitcoin ETF,
this strongly excited the market.
Binance has already made concessions to the SEC, Coinbase
has indicated its intention to fight the regulator in court. The fate of
BlackRock's application is unclear, although this time there are strong reasons
to believe that the SEC will treat it favorably.
The sympathy of the crypto community is on the side of the
rebellious Coinbase. It is predictable. However, investors also demonstrate confidence
in the exchange. From June 6, when the SEC filed the lawsuit, to June 29, Coinbase
shares rose more than 30%. This is not to say that everyone is confident in the
Coinbase judicial victory. Rather, investors do not expect critical losses of
the exchange. If BlackRock enters the bitcoin market, it stimulates exchange
activity, which is already supported by the bitcoin growth. For now, the
exchange is betting on Coinbase, and we'll soon find out how reasonable those
bets were.
#SEC #bitcoinETF #ETF #risks #cryptomarket #Lado_Okhotnikov
#bitcoin #expert_opinion
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