Coinbase’s SEC probe drags on

What we’ll cover today:

🟠 Bitcoin moves sideways (and puts us to sleep)

🟡 Coinbase’s SEC probe drags on

🟢 Stablecoin bill tries to make a comeback (again)

Bitcoin Is Just... Chillin’ 💤

Bitcoin, the king of crypto, is caught in a price nap. It’s moving sideways between $100.7K and $104.7K.

🚨 Breaking News:
Despite tests on both ends, BTC has been stuck in a tight range all week, showing no clear breakout yet.

⚡ Wire Simplified –

• Bitcoin’s stuck between two key prices: $100,700 (support) and $104,700 (resistance).

• This range has held firm despite multiple attempts to break out.

• There’s low trading volume—basically, fewer buyers and sellers showing up.

• Traders call this “consolidation”—a calm before the storm (maybe).

• Everyone’s watching for a breakout… or a breakdown.

✔️ Straight to the Point:
BTC is playing the waiting game. Low volume and tight range = indecision. Traders: get ready, the next move could be big.

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Coinbase vs SEC… Still?! ⚖️

Coinbase (the big U.S. crypto exchange) is still being investigated by the SEC over its “100M verified users” claim.

🚨 Breaking News:
The SEC is probing whether Coinbase’s user numbers were misleading in its 2021 IPO filing—despite a friendlier crypto stance lately.

⚡ Wire Simplified –

• SEC says Coinbase may have overstated real user count by including multiple accounts per person.

• Coinbase stopped using that stat in 2023.

• The probe started under Biden, continues under Trump-era leadership.

• Coinbase just joined the S&P 500—big win, but not without baggage.

• Also, a $400M data breach was disclosed this week.

✔️ Straight to the Point:
SEC isn’t letting go of this case yet. Even with crypto-friendlier leadership, the past is catching up with Coinbase.

Stablecoin Bill Drama Returns 🎭

U.S. Senators are reviving a bill to regulate stablecoins. But political drama—mostly around Trump—has slowed things down.

🚨 Breaking News:
The GENIUS Act (yep, that’s the real name) may get a vote soon after GOP and Dems clashed over Trump’s crypto ties.

⚡ Wire Simplified –

• The bill sets rules for stablecoin issuers (like World Liberty Financial).

• It was stalled last week due to Trump’s alleged links to stablecoin deals.

• Revised version skips ethics details—cue more political tension.

• Senators like Cynthia Lummis want focus on clear crypto rules.

• Stablecoin regulation is still far from being “stable.”

✔️ Straight to the Point:
The stablecoin bill is back, but still messy. Politics are messing with progress—again. Clarity may have to wait.