News View Non-AMP

Mark Yusko on the SEC vs. Binance: ‘The Real Impact Is the Psychological Hit On Altcoins’

Published by
Qadir AK

Binance, the world’s largest cryptocurrency exchange by trading volume, is currently facing some legal challenges from the U.S. Securities and Exchange Commission (SEC). Mark Yusko,  the Founder, CEO, and Chief Investment Officer of Morgan Creek Capital Management, has opened up about the SEC and discussed their recent actions against Binance. 

In a conversation with the host of Altcoin Daily, Mark expressed his doubt that the SEC has any authority over a company that does most of its business outside the U.S. He said that it was very difficult and unrealistic for the SEC to assume such a role. He gave an analogy of him expecting people in Europe and Japan to follow his words just because he is an American. He said that this made no sense at all and that people would only listen to him if they wanted to, but not because they had to.

He also speculated that the SEC may be preparing to take some action against Binance, but he also questioned the SEC’s jurisdiction over the exchange, which operates mostly outside the U.S. He said that it would be hard for the SEC to claim oversight of a company that is registered in the UK and based in Dubai, and that has only a small subsidiary in the U.S.

“Whatever it is, the SEC is not your regulator now. You have a subsidiary in the U.S. and you could shut that subsidiary down or would that have an impact? Sure, but how much of their total trading volume is it? Maybe it’s bigger than I think, but I think the real impact is the psychological hit on altcoins.”

Mark also compared most altcoins, which are alternative cryptocurrencies to Bitcoin, to gambling tokens. He said that they have no intrinsic value or claim on cash flows, unlike stocks. He argued that even some stocks, such as AMC or GameStop, are gambling tokens because people buy them not based on fundamental analysis, but on hype and speculation.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…

April 2, 2025

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025