Welcome to CNBC Crypto World! In this video, we bring you the latest news and daily trading updates from the digital currency markets. We provide viewers with an exclusive look into the ever-changing crypto industry, featuring high-profile interviews, explainers, and unique stories.
In today’s episode, we have a special guest, Bittrex Global CEO Oliver Linch, who weighs in on the recent SEC charges against several crypto companies, including Bittrex. Linch discusses the implications of the regulatory crackdown and what it means for the industry as a whole.
– 00:00 – CNBC Crypto World, June 14, 2023
– 0:28 – Bitcoin rises post-Fed decision
– 0:58 – The headlines
– 4:19 – Bittrex Global CEO Oliver Linch
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Today, Binance addresses its emergency fund fluctuations following the charges against the crypto exchange. The SEC asks for more time to respond to Coinbase regarding crypto clarity. And Bittrex Global CEO Oliver Linch weighs in on what regulatory advancements in Europe mean for the industry as a whole.
Welcome to CNBC’s Crypto World. I’m Pippa Stevens.
Crypto prices are reacting to the Fed’s decision to keep interest rates unchanged amid the central bank’s campaign of rate hikes. The Fed is also projecting two more rate hikes this year. As of 2:00 PM Eastern, Bitcoin traded around the $26,000 level, Ether traded around $1,700, and Solana traded around $15. These price moves follow the latest CPI data showing signs of inflation cooling.
Now, let’s dive into the top stories. First, Binance and the SEC were ordered to start negotiations today after a U.S federal judge rejected the SEC’s request to freeze Binance U.S assets. The judge stated there was no need for such an order if both parties could agree on limits. Binance U.S argued that the SEC’s attempt to freeze its assets would severely impact their business.
Meanwhile, Binance CEO Changpeng Zhao tweeted that Binance has not sold any Bitcoin or its native token Binance Coin after the SEC charges. The BNB token has experienced a more than 20% decline in value since the charges were filed. Additionally, Binance’s emergency fund has fallen by 11% following the SEC suit. The fund was valued at nearly $950 million but dropped to around $840 million after the charges.
In other news, the SEC is requesting more time to respond to Coinbase regarding the crypto platform’s request for regulatory clarity. The SEC has not made a decision on whether they will answer Coinbase’s petition for rulemaking and has asked for an additional four months to provide a response.
Moving on to our main story, Bittrex Global CEO Oliver Linch discusses the crypto regulatory advancements in Europe and how the recent SEC charges against crypto exchanges could impact the industry. Bittrex and its former CEO were charged with operating an unregistered exchange broker and clearing agency.
Linch responds to the SEC charges, expressing disappointment in not having had the opportunity to engage with the SEC before taking action against Bittrex. He emphasizes that Bittrex Global operates outside the U.S., never accepted U.S customers, and has always prioritized compliance and lawfulness.
To listen to the full interview and gain insights into the regulatory landscape, watch the video now!
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Thank you for watching CNBC Crypto World!
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Bittrex Global CEO Oliver Linch weighs in on the recent SEC charges against several crypto companies, including Bittrex, and what the regulatory crackdown means for the industry as a whole.
00:00 – CNBC Crypto World, June 14, 2023
0:28- Bitcoin rises post-Fed decision
0:58 – The headlines
4:19- Bittrex Global CEO Oliver Linch
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Bitcoin moves higher after Fed decision, and Binance addresses emergency fund: CNBC Crypto World