Cryptocurrencies became a surprising flight to safety during the latest banking crisis, but the SEC is now making sure traditional finance is still king.
The agency is accusing both cryptocurrency trading and investing services Binance and Coinbase Global Inc. (COIN) of "operating as an unregistered securities exchange" (among other charges, in Binance's case).
You can see in the chart below how the price of COIN dropped like a rock on the news:
For our in-house crypto expert Joe Shew, he finds these charges unfair — Coinbase has turned to the SEC numerous times for guidance on different issues.
He says that whoever is pulling the strings at the agency may be playing games… but even if they are… he says that crypto investors are going to be forced to play right along for the time being.
You'll want to go along with one of America's most famous investors — twice featured on "60 Minutes" – on a very unusual road trip... Check it out here.
Because of the dramatic drop in the Coinbase stock price and the price of Bitcoin (BTC) fighting to figure out what to do, I wanted to make sure all of our readers had access to Joe's latest insight.
In his thorough video report, Joe covers:
✅ What to do if you have crypto at Coinbase or Binance.
✅ What's interesting about the cryptos that were selected for the SEC lawsuits against exchanges.
✅ Which OTHER cryptos are safest from regulatory risk.
✅ How to manage your long-term positions.
✅ Bitcoin's technical support level at which you'll want to reduce your risk.
✅ And good entry points below where you could start buying again.
In addition, to learn more about Joe and his crypto service, you can click here.
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
Post a Comment
Post a Comment