Cryptocurrency
Coinbase SEC investigation: Coinbase is deep into “shitcoins”

The question of whether Coinbase is regulated by the SEC is off the table today. Especially in view of how much news is related to the proceedings between the exchange and the regulator. Cryptocurrency exchange Coinbase is in the spotlight because of allegations of insider trading, but they aren’t the only ones under scrutiny. The SEC is also facing a backlash for failing to regulate the digital asset sector and prevent such misconduct. Against this backdrop, the conflict between Coinbase and the SEC has become the center of attention.
Coinbase SEC investigation
Coinbase SEC disclosure is constantly in the news. Coinbase is currently experiencing regulatory difficulties. The Coinbase SEC annual report released this week says that the SEC is investigating the company for selling digital assets that should have been registered as securities. This circumstance has caused its stock price to plummet. Katie Wood has abandoned her position in the company’s stock.
This news hurts Coinbase because the company has remained on the side of regulators since its founding. Bloomberg’s Max Chafkin lays the blame on Coinbase’s rash decision several years ago to “turn to shitcoins. A familiar term in the crypto world, shitcoins usually refer to digital tokens that have no apparent utility beyond speculative advertising.
Coinbase spent years building its reputation, but then squandered it all on “shitcoins.” This led to Coinbase SEC class actions. This included promoting new Dogecoin coins to small and unsophisticated investors, many of whom suffered losses of 80% or more. As a result, the SEC cracked down on Coinbase. Meanwhile, the decision to add shitcoins also opened the door to a fraudulent insider trading scheme by a Coinbase manager.
SEC Liability
It’s easy to blame Coinbase executives for this situation, but the main blame lies with the SEC. The situation has gotten much worse under current SEC Chairman Gary Gensler. Gensler is a non-lawyer and has used his position to boost his credibility with the Democratic Party.
In doing so, Gensler has sought to hit major companies such as Coinbase, which has largely followed the rules, allowing the worst players to get out of control. Two of the biggest cryptocurrency crashes this year-the collapse of Terra, a Ponzi scheme-like project, and the bankruptcy of lender Celsius-occurred in front of Gensler, and the SEC could not intervene in time. As a result, small investors are losing billions of dollars.
Coinbase sued by SEC – what came of it?
How did the SEC investigation into Coinbase, which like all such investigations is supposed to be secret before charges are filed, even end up in the media? Some experts on Twitter have suggested that Gensler leaked the investigation to Bloomberg to punish Coinbase, which has publicly complained about the SEC’s behavior. An experienced crypto lawyer familiar with the customs of Washington, D.C., says this is almost certainly true, and adds that there are traces of Gensler in earlier leaks to the Wall Street Journal.
The SEC has also been criticized for the amateurism of high-ranking officials who leave the agency to cash in on private law firms. The most egregious example is laid out in a new revelation that shows how a lack of oversight allowed former SEC lawyers to use their connections at the agency to play up the whistleblower program and make themselves tens of millions of dollars.
Gensler may want to get his house in order before torturing the likes of Coinbase. Specifically, he should stop political machinations and create a structure to help crypto and blockchain, one of the most important technologies of this century, flourish on America’s shores.
It’s unlikely he’ll do that, but it may not matter. The debate about how to regulate cryptocurrency is moving beyond the SEC to other agencies, including the CFTC, which has recognized the importance of innovation as well as protecting consumers from harm.
The bottom line is that shitcoins got Coinbase in trouble with the SEC, but looking at the aftermath of the shitcoins boom, it is the SEC that has the most to explain its inaction.
Cryptocurrency
Metaplanet and K33 Deepen Bitcoin (BTC) Exposure With Strategic Initiatives

In a strategic move to accelerate its Bitcoin acquisition goals, Japan-based Metaplanet issued $21 million in interest-free bonds to the Evo Fund on May 29, following a separate $50 million raise the previous day. These zero-coupon bonds, known as the 17th series, come with a $525,000 face value and are set to mature on November 28, 2025.
As they bear no interest, Metaplanet avoids additional financial costs tied to borrowing.
Metaplanet Adds to Bitcoin Warchest
According to the official document, the terms allow Evo Fund to initiate early redemptions with a five-day notice, either in full or in multiples of $525,000. Additionally, redemptions may be linked to future funding rounds with the same investor.
The bonds are unsecured, with no guarantees or administrators, which is in line with Japanese corporate law. Payment processing will take place at the company’s Tokyo office.
This fundraising effort contributes to Metaplanet’s larger goal of amassing 10,000 BTC by the end of 2025. Year-to-date, the company has raised $135.2 million, including previous rounds in February ($25.9 million), March ($13.3 million), and earlier in May ($25 million).
Currently holding approximately 7,800 BTC, worth around $840 million, Metaplanet ranks 11th among global corporate Bitcoin holders, with an average purchase price of $91,340 per BTC. In March, it used cash-secured put options to acquire 696 BTC, followed by an additional 145 BTC in April for $13.6 million.
Metaplanet isn’t the only company doubling down on Bitcoin. In Scandinavia, K33 is taking a similar approach.
K33 Joins Corporate Bitcoin Trend
K33, the Oslo-based cryptocurrency brokerage company, announced plans to begin holding Bitcoin on its balance sheet after raising 60 million SEK ($6.22 million). As per the announcement on May 28th, the funding was secured via interest-free convertible loans and a new round of share and warrant issuances.
The Norwegian firm confirmed that 100% of the funds will be used to buy Bitcoin, possibly acquiring up to 57 BTC at current prices. The firm secured 45 million SEK ($4.66 million) through loans maturing in June 2028, and 15 million SEK ($1.5 million) via equity and warrants. Investors converting their warrants before March 2026 will be granted additional free warrants, which would potentially allow K33 to raise a total of 75 million SEK ($7.77 million).
In its Q1 financial update, CEO Bull Jenssen said K33 is partnering with other Nordic Bitcoin treasury firms and intends to leverage its holdings to create Bitcoin-based services, including collateralized lending.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
Crypto Markets Shed $200B in 48 Hours as Bitcoin Dumps to 12-Day Low (Weekend Watch)

Perhaps driven by the latest escalation of tensions between the US and China, bitcoin’s price has tumbled over the past 12 hours to a multi-week low of $103,000.
The altcoins have it even worse, with massive price drops from the likes of SUI, LINK, DOGE, SOL, ADA, and more. CRO has defied the market-wide trend with a double-digit price surge.
BTC Dumps to $103K
Ever since it skyrocketed to almost $112,000 last Thursday to chart a new all-time high, bitcoin’s price has been unable to recapture or even sustain its momentum. It started to fall on the next day when US President Trump recommended a new set of tariffs against the EU.
Although he delayed their implementation for over a month, BTC failed to bounce off decisively and was stopped at around $110,000 on a couple of occasions. The latest rejection, which came on Thursday at $109,000, was the worst one (for now) as it drove BTC down to $105,000.
It recovered some ground to $106,000 yesterday, but the bears reemerged and pushed the cryptocurrency south to a 12-day low of just over $103,000. This decline transpired after Trump said China “violated” the trade agreement between the two, while Beijing responded kindly.
Although BTC has regained some ground and now sits above $103,500, its market cap has slid to $2.06 trillion on CG, while its dominance over the alts has shot up to 61.3%.
Alts Bleed Out, Not CRO
The alternative coins have marked some big losses over the past day. Ethereum is close to breaking below $2,500 after a 4.5% drop. XRP has plunged beneath $2.15, while DOGE, SOL, ADA, SUI, LINK, and AVAX have plummeted by up to 9%.
The situation with the lower-cap alts is even more painful, as many, such as ENA, INJ, VIRTUAL, and PEPE, have charted double-digit price declines.
CRO is the only exception, having gained 17% in the past day and trading close to $0.11.
The total crypto market cap has seen roughly $200 billion gone in the past two days and is down to $3.360 trillion.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Cryptocurrency
Ethereum Price Analysis: Is ETH Dumping to $2K Next as Momentum Fades?

ETH continues to consolidate beneath a key resistance level around $2,800, struggling to break higher after a strong rally earlier in May.
While the bulls have held higher lows in the short term, repeated rejection from the same level raises questions about buyer conviction at these highs.
Technical Analysis
The Daily Chart
Ethereum is currently consolidating below the major resistance at $2,800, which aligns with the 200-day moving average. The uptrend that began near $1,500 has paused, and the RSI has slightly dropped below 70, reflecting weakening bullish momentum.
Despite this, the price remains above the 100-day MA and the previous breakout zone near $2,200, indicating structure remains bullish unless those levels are lost. A clean breakout above $2,800 would open the path toward the $3,400–$3,600 supply zone. On the other hand, failure to do so could trigger a retest of the $2,200 demand block.
The 4-Hour Chart
The 4H chart shows that the price has formed a clear ascending triangle between the $2,800 resistance and roughly $2,500 support. The structure resembles a potential distribution phase following two strong accumulation zones below $1,850 earlier this month. While ETH continues to set higher lows, the repeated rejection at the highs is starting to weigh on the short-term outlook.
The RSI is also hovering near 47, suggesting a neutral momentum shift. A break below $2,500 and the lower boundary of the pattern would signal bearish reversal toward $2,100, while a confirmed breakout above $2,800 would invalidate the distribution idea and favor upside expansion.
Sentiment Analysis
The Coinbase Premium Index is currently holding slightly above zero, indicating moderate spot demand from US-based investors. Historically, a rising premium has often preceded strong bullish trends driven by institutional or high-volume retail buyers on Coinbase. Although the current levels are not aggressively high, they reflect underlying strength in the spot market and a willingness to pay slightly more for ETH on U.S. exchanges.
If this premium begins expanding while ETH approaches resistance again, it could signal renewed confidence and front-running of a breakout. On the other hand, if the premium fades or turns negative, it may signal waning interest and a possible short-term top, which is the scenario that is seemingly occurring at the moment.
Therefore, if the demand from the US declines, it would be highly likely for ETH to go into a correction phase once more.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex3 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex3 years ago
How is the Australian dollar doing today?
- World3 years ago
Why are modern video games an art form?
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions