First Binance, now Coinbase: US regulators have filed a lawsuit against Coinbase in an escalating crackdown on the crypto industry. The Securities and Exchange Commission alleged that Coinbase, the country’s largest crypto trading platform, had breached regulations by failing to register as an exchange.

This was the second lawsuit filed by the SEC against the crypto industry in two days: The regulator hit the world’s largest crypto exchange Binance with a civil suit on Monday, filing 13 charges against the company and its enigmatic owner Changpeng Zhao for alleged market manipulation, misuse of funds and misrepresentation. Investors have since withdrawn more than USD 1.4 bn from the exchange, according to Reuters.

EGX30

17,491

+0.8% (YTD: +19.8%)

USD (CBE)

Buy 30.84

Sell 30.96

USD at CIB

Buy 30.85

Sell 30.95

Interest rates CBE

18.25% deposit

19.25% lending

Tadawul

11,317

+0.2% (YTD: +8.0%)

ADX

9,357

-0.2% (YTD: -8.4%)

DFM

3,678

+0.7% (YTD: +10.3%)

S&P 500

4,283

+0.2% (YTD: +11.6%)

FTSE 100

7,628

+0.4% (YTD: +2.4%)

Euro Stoxx 50

4,295

+0.1% (YTD: +13.2%)

Brent crude

USD 76.00

-0.9%

Natural gas (Nymex)

USD 2.26

+0.7%

Gold

USD 1,979.30

+0.3%

BTC

USD 26,994

+5.4% (YTD: +63.3%)

THE CLOSING BELL-

The EGX30 rose 0.8% at yesterday’s close on turnover of EGP 3.28 bn. Local investors were net buyers. The index is up 19.8% YTD.

In the green: Qalaa Holdings (+7.3%), Heliopolis Housing (+6.8%), and Ibnsina Pharma (+6.2%).

In the red: Orascom Construction (-3.9%), Mopco (-3.3%), and Egypt Kuwait Holding- EGP (-3.2%).

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