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The SEC said that Binance and its CEO were able to commingle and divert customer funds — something that courts have not determined.
Powell said the "ultimate source of credibility in money is the central bank" and the Fed should have a "robust federal role" in determining the future of any form of money, including stablecoins.
Binance.US's legal woes have led to a liquidity crunch as traders and market makers flee the exchange.
Invesco re-files for a spot Bitcoin ETF stating such a product would increase investor protections.
The company's latest filing follows an ETF application from BlackRock.
Bitcoin briefly regained 50% market share today as investors continue to pull out of altcoins.
Some institutional investors are indicating a bullish sentiment toward Bitcoin in the wake of recent SEC enforcement actions.
EDX supports spot trading activities for only four cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.
Shifting investor sentiment favors altcoin ETPs over Ethereum and Bitcoin products
