The market bets on Coinbase

 Comments 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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