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👀 Breaking: Coinbase Decides To Abandon Its Lend Product

The company seeks to avoid a potential lawsuit with the SEC with its new move.

Hey Blockster, Binance is not the only cryptocurrency exchange that has been under increased scrutiny from regulators. Coinbase, one of the most popular digital asset exchanges in the United States, reported earlier this month that the US Securities and Exchange Commission (SEC) had expressed its intent to sue the company in court due to its upcoming crypto lending program. This move from the SEC came as a surprise for both the exchange and the cryptocurrency industry, especially if we take into account that Coinbase is among the most compliant digital asset businesses on the market. Initially, the exchange sought to get clarification from the SEC on its Lend product, stating that it would launch the crypto-backed lending service in October. However, it seems like there was a change of plans at Coinbase, which recently announced that it won't roll out its Lend program due to difficulties in regulatory clarity.   Check out this article on Blockdesk to learn the details of the story! In addition to the story above, we highly recommend taking a look at the following articles on Blockdesk to stay in the loop with the latest updates of the crypto industry: When Casual Investors Panic Buy or Sell it is Good for Seasoned Investors – Cryptocurrencies are infamous for their high volatilities and excessive price swings. While seasoned investors are used to such market mechanisms, they often lead to panic buys or sells among casual traders. Why You Should Keep An Eye on Avalanche (AVAX) And Fantom (FTM) Ecosystems – Ethereum's rising gas fees provided new opportunities for its competitors to gain traction. And, while much of the news is about Solana, crypto users should also keep an eye out on Avalanche and Fantom among smart contract blockchains. Turkey Plans To Start A War Against The Use Of Cryptocurrencies – Turkey is among the nations where a significant portion of the population has already adopted cryptocurrencies. Despite this fact, it seems like the government wants to wage war against the usage of digital assets. Ethereum Has its First Deflationary Day – What Does This Mean? – While ETH has been heavily criticized for its inflationary nature, Ethereum's London upgrade introduced a coin-burning mechanism with the goal to maintain a stable price appreciation for the cryptocurrency in the long run. As a result, ETH had the first day in its history when its issuance went negative. Hope you enjoyed today's crypto stories. As always, we will return soon with a new collection, so you can stay updated with the most important events and trends of the digital asset market. See you tomorrow! Cheers, The Blockster Team © 2021 Blockster. All rights reserved This message was sent to lelakikelasmenengah@gmail.com by info@blockster.com Queensway, Midtown, Giblartar GX11 1AA, Gibraltar Unsubscribe | Manage Subscription | Forward Email

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