What's Going On With Bitcoin- And Ethereum-Related Stock Coinbase Today

Coinbase Global Inc COIN shares are trading lower by 5.00% to $50.62 going into the close of Monday's session following recent SEC charges. Additionally, Robinhood reported a drop in May crypto notional trading volumes, which may be weighing on the stock.

The SEC complaint alleges that Coinbase has unlawfully facilitated the buying and selling of crypto asset securities since 2019, intertwining exchange, broker, and clearing agency services without SEC registration, resulting in billions of dollars.

See Also: Binance.US On Life Support: Market Makers Abandon Sinking Ship

What Else Is Going On With Crypto?

Shares of crypto-related stocks are also trading lower in recent sessions after the SEC sued Binance over U.S. securities violations.

As reported by our Benzinga team, Binance Holdings Ltd. and its CEO Changpeng Zhao are facing a lawsuit filed by the Securities and Exchange Commission (SEC), citing alleged violations of U.S. regulations, as indicated in a recent legal filing by the SEC.

The legal proceedings allege that Zhao, as the driving force behind Binance, directed employees to use VPNs to conceal their geographical locations.

Binance is the largest cryptocurrency exchange in the world by trading volume. In fact, it tops the ranks of cryptocurrency exchanges maintained by CoinMarketCap, which are ranked based on 24-hour trading volumes, exchange score and average liquidity. Binance triumphs over exchanges like Huobi Global and Coinbase, which follow closely in 2nd and 3rd places, respectively.

According to data from Benzinga Pro, COIN has a 52-week high of $116.30 and a 52-week low of $31.55.