Coinbase’s Toughest Week: Crypto Stocks Plummet, But SEC Legal Win Offers A Silver Lining

Coinbase recently rounded up a challenging week as crypto stocks plummeted, including Marathon Digital and Riot Platforms, taking a significant hit in the widespread market crash. Crypto stocks suffered the steepest declines in a week that hit all sorts of risky assets, but Coinbase’s partial win against the SEC shines a silver lining on the situation.

Amid the market chaos, new viral presale ETFSwap (ETFS) has surprisingly continued to rally on presale. This indicates growing interest and confidence in the new project as experts predict massive highs on the presale token.

Coinbase Secures Partial Win Against SEC Amid Rough Trading Week

It was a rough last week for crypto stocks and financial markets at large, especially with the US election debate and the release of economic indicators like CPI and PPI in the hang. However, Coinbase, alongside other crypto stocks like Marathon Digital, MicroStrategy, and Riot Blockchain, had it worse.

Amid the ongoing court battle between Coinbase and the SEC, the company stock dropped over 20% to its lowest since February. Likewise, spot Bitcoin ETFs experienced massive outflows, dropping to the lowest level in over seven months. The assets have now plunged to $46 billion from a peak of $62 billion in June.

However, Coinbase appeared to have secured a partial win against the SEC in the trial over unregistered sales of securities. The US District Court has granted Coinbase’s bid for key documents on how the SEC classifies cryptocurrencies as securities. This grants Coinbase access to crucial documents that could be instrumental in its defense.

While that’s a good development for Coinbase, the court denied the company’s motion to subpoena SEC Chairman Gary Gensler. Coinbase intended to question Gensler’s views on cryptocurrencies dating back to 2017 but later cut it down only to statements made by the SEC Chair. However, the court dismissed the motion as irrelevant to the ongoing case.

ETFSwap (ETFS) Exhibits Promising Prospects Despite Market Conditions

The new ETFSwap (ETFS) project has impressed investors across TradFi and the crypto market as crypto stocks hit headwinds. The new platform aims to offer on-chain access to ETF trades and investments via tokenized ETFs. 

With tokenization and real-world assets growing as a bullish narrative for the coming bull run, ETFSwap (ETFS) is looking to solidify its place as a top investment pick. The new platform will offer tokenized ETFs backed by actual ETF securities bought from traditional markets.

As such, ETFSwap (ETFS) is able to blend features from TradFi and DeFi for impressive cross-compatibility. This model is enabled by partnerships with regulated investment banks that trade both cryptocurrencies and securities. Also, it eliminates some of the limitations of centralized markets, such as low liquidity, limited trading hours, limited convertibility, KYC restrictions, and more.

ETFSwap (ETFS), as a decentralized iteration of an ETF trading platform, has attracted massive investments, and enthusiasts have caught on to the prospects brewing. The new platform is the first of its kind, positioning early investors for massive profits as the platform goes for a huge market share.

Moreover, ETFs have been major price catalysts for the crypto market this year following the launch of spot Bitcoin and Ether ETFs. Knowing this, experts believe that the presale token is poised for a 108x rally right after, with prospects reaching as high as a 50,000% price move.

The ETFSwap (ETFS) team has recently passed KYC verification by SolidProof following a smart contract audit by CyberScope. These processes help assure presale investors of added security, especially as it’s crucial in the crypto landscape. That said, the new presale token profers an escape route for investors rotating from crypto stocks.

Conclusion

Crypto stocks have suffered alongside other financial products over the past week. In the new week, investors will look to cut down risks and explore assets, offering huge profits without exposure to current market volatility. The ETFSwap (ETFS) token is currently on presale, offering an opportunity to increase profit towards the launch as the price is uncontrolled by market factors.

Buy ETFSwap (ETFS) at $0.03846 now to secure your spot as this is the final stage of the presale and the last chance to get ETFS tokens for a low and affordable price.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community