https://techcrunch.com/2023/06/06/after-binance-us-sec-sues-coinbase-for-securities-laws-violations/

This morning, the U.S. Securities and Exchange Commission (SEC) sued Coinbase, the largest domestic cryptocurrency exchange, for securities laws violations. The suit comes just one day after the SEC sued Binance, the largest crypto exchange in the world by volume, also over securities matters.

In the wake of the Binance suit, Coinbase shares fell 9% yesterday, and they are down more than 20% in early trading this morning. The company has shed billions of dollars in value thus far this week.