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U.S. crypto exchanges' activity, liquidity plummet in wake of SEC lawsuits
The cryptocurrency market enjoyed a strong start to 2023, with Bitcoin’s price rising 90% to top out at $31,165 on April 14. But things have cooled off significantly in the latter half of the second quarter amid enforcement actions by the Securities and Exchange Commission (SEC) and concerns about the health of the broader financial markets. Robinhood, the popular U.S. brokerage service that also offers access to cryptocurrencies, released its May Operating Data report on Monday which shows that the volume of crypto trading on the platform decreased by 43% in May as compared to April. This decline in total volume ... (full story)