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Coinbase shares plummet as SEC sues rival crypto exchange Binance
Shares of U.S.-based cryptocurrency exchange Coinbase plummeted after word broke that the Securities and Exchange Commission was suing rival trading platform Binance. Shares declined almost 12% from their Friday close after news of the lawsuit first hit. They've since recovered slightly and are down 10.3% at $57.91, according to TradingView. The SEC alleges Binance, the world's largest crypto trading platform, and affiliated companies misled customers and misdirected funds to a separate investment fund owned by the company's CEO, Changpeng 'CZ' Zhao. Coinbase has had its own issues with the SEC, including an ... (full story)