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Coinbase was aware of securities law violations, SEC claims in letter

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The United States Securities and Exchange Commission (SEC) filed a response to Coinbase’s claims that the regulator lacks jurisdiction to prosecute the crypto exchange.

According to a letter sent by the SEC to a district judge on July 7, Coinbase had knowledge of the probability that federal securities laws would apply to its operations, openly informing its shareholders about the possibility of assets traded on its platform being classified as securities.

“Since becoming a public company, Coinbase has repeatedly informed its shareholders of the risk that the crypto assets traded on its platform could be deemed securities and therefore that its conduct could violate the federal securities laws,” reads the regulator’s response.

As per the SEC, Coinbase is a “multi-billion-dollar entity advised by sophisticated legal counsel” that is deliberately “ignoring more than 75 years of controlling law under Howey” in an attempt “to construct its own test for what constitutes an investment contract.“

Screenshot of the SEC’s response to the court. Source: CourtListener

The letter is a response to a previous filing from Coinbase. On June 28, the exchange notified the court about its intention to file a motion for judgment. According to Cornell University, a motion for judgment is used if a party believes there is no real dispute about material facts in a case.

In this previous letter, Coinbase brought up an appearance of the SEC Chair Gary Gensler before Congress, when he allegedly claimed: “There is not a market regulator around these crypto exchanges” and “only Congress could confer authority to regulate crypto exchanges.“ Coinbase also pointed out that two years after going public, the SEC filed charges for activities “exhaustively described” to the regulator and the general public.

Speaking with Cointelegraph, corporate and securities lawyer Roland Chase explained that “all that the SEC is authorized to do by Congress is to review the going public documents and provide comments and ask questions in an effort to improve the company’s disclosure to potential investors,” adding that federal securities laws governing the “going public” process are disclosure-based. “That means that the SEC does not, and in fact cannot, deny a company’s public listing merely because it thinks investing in that company is a bad idea,” he said.

On June 6, the regulator charged Coinbase for allegedly offering unregistered securities since 2019. A pre-motion conference on the case is scheduled to July 13 at 2:00 pm UTC.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?

Cryptocurrency

DWF Ventures Analyzes Performance of Binance Alpha and Spot Listings

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[PRESS RELEASE – Dubai, UAE, June 13th, 2025]

Leading web3 investor DWF Ventures has published an analysis of Binance Alpha and Spot listings. It examines the performance of projects that have reached the exchange’s spot market following a token launch on Binance Alpha.

DWF Ventures has comprehensively analyzed the projects that have featured on Binance Alpha following the introduction of the listing mechanism in 2024. It highlights the increased transparency that Alpha brings by enabling users to appraise the merits of emerging tokens, some of which have the potential to migrate to a Binance Spot listing.

Research conducted by DWF Ventures has found that of the more than 190 projects to have been selected by Binance Alpha to date, more than 70% are currently trading at below $50M market cap, while a handful of outliers such as Ondo and Virtuals have surpassed $1B valuation.

DWF Ventures’ analysis also shows that memecoins and AI agents have dominated Binance Alpha projects with DeFi in third place. Memecoins and AI agents surpass all other onchain sectors featured in Binance Alpha combined. DWF further found that Solana was the most popular chain for featured projects, followed closely by BNB Chain and Ethereum.

Key findings from DWF Ventures’ Binance Alpha report include the fact that around 10% of Alpha projects converted to a Spot listing, with a total of 19 making the grade. DeFi and memecoins had the highest conversion rate, while the most valuable projects after Ondo and Virtuals were Maple Finance and Cookie DAO.

DWF Ventures summarizes its report by noting that projects that migrate from Alpha to Spot are typically defined by active social media engagement, high trading volume, and are category leaders in popular onchain verticals. The full DWF Ventures report can be read here.

About DWF Labs

DWF Labs is the new generation Web3 investor and market maker, one of the world’s largest high-frequency cryptocurrency trading entities, which trades spot and derivatives markets on over 60 top exchanges.

Learn more: https://www.dwf-labs.com/

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Cryptocurrency

Roam Launches on Binance Alpha and Solana’s Meteora DEX, Expands Cross-Chain Access via BSC Integration

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[PRESS RELEASE – Vancouver, Canada, June 13th, 2025]

Roam, the open wireless network powered by WiFi and eSIM technologies, today announced its official listing on Binance Alpha, alongside the launch of a liquidity pool on Meteora, the leading Solana-based DEX. This dual listing marks a significant step in Roam’s cross-chain expansion, boosting $ROAM token accessibility across both BNB Chain and Solana ecosystems.

Beginning June 13 at 13:00 UTC, eligible Binance users can participate in the ROAM Alpha campaign and claim rewards through Binance’s official event portal. Simultaneously, liquidity providers on Meteora can earn platform-specific incentives via Roam’s official LP pool.

Staking and Airdrop Rewards for General Users and Roam Miners

Roam is introducing a high-yield staking program offering an average 35% APY for general users. Meanwhile, Roam Miner users can access a dedicated staking pool with 500 $ROAM staking capacity per device, a guaranteed 100% APY, and monthly airdrops of 40 $ROAM per device for six consecutive months.

This reward structure is designed to align long-term community participation with Roam’s DePIN-based infrastructure and token economy.

Binance Alpha: Early Access to Curated Web3 Projects

Binance Alpha is Binance’s discovery platform for early-stage Web3 tokens, offering users curated access to high-potential projects. ROAM was selected based on its ecosystem growth, on-chain traction, and technical innovation.

With Alpha’s streamlined “Quick Buy” feature, users can purchase ROAM without adjusting slippage or navigating gas-intensive environments. Enhanced trade routing and MEV protection ensure security and efficiency. Participants can also earn Alpha Points by trading or holding ROAM, unlocking airdrops, and other future benefits.

Meteora Listing Enhances $ROAM Liquidity on Solana

Roam’s debut on Meteora—the dynamic liquidity protocol developed by the team behind Jupiter—brings sustainable market depth to $ROAM within the Solana DeFi ecosystem. Meteora’s DLMM architecture, AMM vaults, and liquidity aggregation reduce volatility and deliver optimized capital efficiency for LPs.

The integration strengthens Roam’s Solana presence while supporting long-term DeFi adoption and trading scalability.

BSC Integration Enables Cross-Chain Token Access via Roam App

To improve user accessibility and trading flexibility, Roam has enabled native cross-chain support via Wormhole’s NTT framework, allowing users to bridge ROAM between Solana and BNB Chain directly within the Roam App. The process is intuitive, requiring no third-party tools or external wallets.

This BSC integration introduces $ROAM to new users across Binance’s CEX and DeFi ecosystems while offering reduced transaction costs. Users can deposit directly from Binance accounts and access $ROAM on platforms such as PancakeSwap. The feature complements Binance Alpha’s zero-fee trading promotion (March 17–September 17, 2025), further reducing onboarding friction.

Building Real-World Adoption Through Decentralized Connectivity

Roam is expanding its presence as a decentralized infrastructure provider focused on enabling real-world connectivity. Backed by OpenRoaming and eSIM technologies, Roam has deployed over 10 million WiFi nodes, serving more than 2.8 million global users.

With the Roam App, users can connect to nearby Roam WiFi hotspots and earn Roam Points by contributing to the network—through adding WiFi nodes, completing WiFi Check-Ins, and participating in community-driven campaigns. These points can be converted into $ROAM tokens, creating a tangible bridge between user contributions and token utility.

Roam’s token model supports real yield through network growth, and its expanding ecosystem includes targeted advertising, Web3 travel integrations, and enterprise-grade eSIM services trusted by partners like Bybit and MEXC. The soon-to-launch Premium eSIM will integrate voice, SMS, and high-speed data, with users able to purchase service directly using $ROAM—strengthening utility across both consumer and enterprise use cases.

About Roam

Roam is focused on building a decentralized global open wireless network that provides seamless, secure connectivity for individuals and smart devices, whether stationary or mobile. Through a blockchain-based credential infrastructure, Roam has supported the adoption of WiFi OpenRoaming among small and medium-sized businesses.

As highlighted in Messari’s 2024 State of DePIN report, Roam is recognized as the fourth-largest DePIN project globally, with a network of over 2.1 million nodes spanning 200 countries and a user base of 2.4 million registered app users. The network also enables access to free eSIM data through participation in activities such as building and validating WiFi nodes, demonstrating Roam’s role in advancing adoption within the DePIN sector.

Users can contact Roam via:

Twitter: https://x.com/weRoamxyz

Telegram: https://t.me/WeRoamXYZ

For more information, users can visit the Roam App or follow official exchange announcements.

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Sharplink Becomes Largest Public ETH Holder With $462M Purchase but Shares Tumble

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Sharplink Gaming has taken a major step into the crypto space by establishing an Ethereum Treasury Reserve and acquiring over $462 million worth of ETH. This move makes the company the largest public holder of ETH, second only to the Ethereum Foundation.

According to a press release, Sharplink purchased 176,270.69 ETH at an average price of $2,626, totaling approximately $462.9 million. The acquisition reflects a major shift in the firm’s strategy, placing Ethereum at the center of its digital asset reserves.

Sharplink’s ETH Funding Strategy

To fund the purchase, Sharplink raised $425 million through a private placement deal and another $79 million via an at-the-market (ATM) equity offering. The company used most of these proceeds to acquire ETH, highlighting its strong commitment to building a substantial crypto reserve.

As a result, Sharplink reported an 11.9% increase in ETH per share since June 2. It has also deployed over 95% of its ETH into staking and liquid staking protocols, contributing to Ethereum’s network security while generating passive yield.

Stock Dips Despite Ethereum Bet

Despite Sharplink’s bullish ETH announcement, its stock (SBET) experienced sharp volatility. According to Google Finance, the stock dropped 12.25% on Thursday to close at $32.50, then plunged to as low as $8 in after-hours trading.

However, by Friday, it had recovered slightly to $11.05, still down about 66% over 24 hours. Nonetheless, the stock remains up nearly 230% over the past month and 37% year-to-date.

Meanwhile, the steep drop came after Sharplink filed an S-3 registration with the U.S. Securities and Exchange Commission. The filing outlined a possible resale of 58.7 million shares issued during a previous private investment in public equity (PIPE) offering, involving more than 100 investors.

In turn, this triggered fears of dilution, prompting a wave of selling. In response, Sharplink Chairman Joseph Lubin clarified on X that the filing doesn’t reflect any current sales. He explained that it only registers shares in case past investors choose to sell later.

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