US regulator, the Securities and Exchange Commission (SEC), has sent a Wells Notice to Coinbase Global Inc (NASDAQ: COIN), a cryptocurrency exchange listed on Nasdaq.
As traders move away from traditional banking, the price of Bitcoin has reached a nine-month high.
On Friday, Bitcoin achieved its highest level in nine months, as cryptocurrency traders moved their investments away from banks and became more receptive to quickly changing interest rate forecasts.
Bitcoin and Ethereum have failed to recover from significant losses in the cryptocurrency market.
Over the weekend, Bitcoin (BTC) failed to recover significant losses from the end of the week and instead traded within a range in the mid-US$22,000s.
Amidst a broader downturn, a crypto exchange listed a loss of €2.5bn in the previous year.
Coinbase, a crypto exchange listed on Nasdaq, has presented its latest results which depict a company deeply impacted by the crypto storm of the past year.
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