{"id":30239,"date":"2024-05-06T19:30:22","date_gmt":"2024-05-06T19:30:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-goes-after-robinhood-kangamoon-steady-as-market-reacts\/"},"modified":"2024-05-06T19:30:22","modified_gmt":"2024-05-06T19:30:22","slug":"sec-goes-after-robinhood-kangamoon-steady-as-market-reacts","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-goes-after-robinhood-kangamoon-steady-as-market-reacts\/","title":{"rendered":"SEC goes after Robinhood; KangaMoon steady as market reacts"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/robinhood-app-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/robinhood-app-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/robinhood-app-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/robinhood-app-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">SEC issued a Wells Notice againast Robinhood, alleging securities violations.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Crypto prices reacted lower, with Bitcoin (BTC) retreating to under $64,000.<\/span><\/li>\n<li><span style=\"font-weight: 400\">KangaMoon (KANG), a new crypto project for play-to-earn and SocialFi, continued to attract investors.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Robinhood Markets Inc., the company behind the popular stock and crypto trading app, revealed it received a Wells Notice from the US Securities and Exchange Commission (SEC) on May 4.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While the news impacted the <a href=\"https:\/\/coinjournal.net\/news\/\">crypto market<\/a>, with Bitcoin dipping from intraday highs above $65,000, analysts are bullish on BTC and other top altcoins. There\u2019s also a lot of positive vibes around new crypto project <a href=\"https:\/\/pr.kangamoon.com\/1ditvb\" target=\"_blank\" rel=\"noopener\">KangaMoon (KANG)<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SEC slaps Robinhood with a Wells Notice<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The crypto market reacted lower on Monday after news that the US Securities and Exchange Commission (SEC) has issued a Wells Notice to popular trading app <a href=\"https:\/\/coinjournal.net\/news\/tag\/robinhood\/\">Robinhood<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The SEC alleges securities violations against Robinhood Crypto. In response, the company says it is open to engaging with the regulator.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law<\/em>,\u201d Robinhood\u2019s chief compliance officer Dan Gallagher <a href=\"https:\/\/newsroom.aboutrobinhood.com\/robinhood-response-to-receipt-of-wells-notice-from-the-u-s-securities-and-exchange-commission\/\" target=\"_blank\" rel=\"noopener\">said<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SEC\u2019s notice to Robinhood Crypto and market reaction<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The market\u2019s response showed a broader concern and dismay, and <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> slipped from highs above $65,000 to trade near $63,300. In the stock market, Robinhood\u2019s share price fell more than 5%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following this latest Wells Notice to Robinhood Crypto, the SEC is now either looking to sue or has active lawsuits against multiple crypto companies. These include exchanges Coinbase, Binance, Kraken; DEX platform Uniswap, and Ethereum development studio Consensys.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SEC\u2019s approach to crypto regulation has drawn sharp criticism from industry players, with many seeing it as gross overreach on the regulator\u2019s part.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Jake Chervinsky, the chief legal officer at Variant, <\/span><a href=\"https:\/\/twitter.com\/jchervinsky\/status\/1787474724752138361\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">says<\/span><\/a><span style=\"font-weight: 400\"> the SEC is \u201cabusing the Wells process as a scare tactic now.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400\">KangaMoon (KANG) steady amid increased interest<\/span><\/h2>\n<p><span style=\"font-weight: 400\">While the SEC\u2019s strategy in regulating cryptocurrencies has raised concerns amid calls for clarity, the crypto investment community knows the industry is here to stay and continue to build top projects.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It\u2019s a scenario that has crypto investors bullish on the potential of a project like KangaMoon (KANG).<\/span><\/p>\n<p><span style=\"font-weight: 400\">Offering a new play-to-earn gaming ecosystem that taps into the benefits of SocialFi, KangaMoon already stands out for its astounding presale performance. But aside from the surging interest, there\u2019s real traction for its P2E gaming platform amid a robust community-driven approach and meme culture.<\/span><\/p>\n<p><span style=\"font-weight: 400\">What\u2019s attractive about the native KANG token is that with it, holders can earn more KANG during the presale. The token thus offers a chance to earn a return ahead of its listing on exchanges post the token sale.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">KangaMoon recently <a href=\"https:\/\/twitter.com\/Kangamoon_P2E\/status\/1785738814058566061\" target=\"_blank\" rel=\"noopener\">reached the $6 million milestone<\/a> in its presale, with KANG token available to early birds at $0.0196 in Stage 5. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Once the presale closes, KANG tokens will be available for trading, potentially exploding amid a broader market bull market performance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Learn more about KangaMoon (KANG) on their <a href=\"https:\/\/pr.kangamoon.com\/1ditvb\" target=\"_blank\" rel=\"noopener\">website<\/a>.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sec-goes-after-robinhood-kangamoon-steady-as-market-reacts\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) SEC issued a Wells Notice againast Robinhood, alleging securities violations. Crypto prices reacted lower, with Bitcoin (BTC) retreating to under $64,000. KangaMoon (KANG), a new crypto project for play-to-earn and SocialFi, continued to attract investors. Robinhood Markets Inc., the company behind [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":30240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30239"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30239"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30240"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}