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It's Tuesday, June 6th, 2023, and this is Markets Daily from CoinDesk.

I'm Adam B. Levine, here again with your daily news roundup.

On today show, we're talking Bitcoin and Markets, plus a deep dive into the big moves from the SEC.

And just a reminder, CoinDesk is a new source and does not provide investment advice.

Bitcoin, Ether, and other top tokens are down in markets heading almost exclusively lower, as the US Securities Regulator filed suit against Binance.us and Coinbase. We're going to discuss the market impact up front, and then I've prepared my thoughts on the U.S. securities regulator filed suit against Binance.U.S. and Coinbase. We're going to discuss

the market impact up front, and then I've prepared my thoughts on the action and implications in longer

form after the break. Quote, the Binance news obviously led to a big sell-off, but the news itself wasn't

exactly surprising. Bob Rass, founder of Sologenic, a blockchain-powered network for tokenizing securities,

told CoinDesk. He continued, rumors blockchain-powered network for tokenizing securities, told CoinDesk.

He continued,

Rumors had been swirling for some time about forthcoming action against finance, end quote.

But Rass added that he wasn't convinced that, quote,

...