Cryptocurrencies dip as investors digest regulatory updates from industry heavyweights Binance, Kraken

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Cryptocurrencies were slightly lower Tuesday, as investors weighed a batch of regulatory updates from Washington involving some of the biggest names in crypto: Binance, Kraken and Tether. Binance Coin slid 6% after the U.S. Department of Justice has brought criminal charges against Binance and its founder and CEO, Changpeng Zhao, also known as “CZ.” Earlier in the day the coin rose as much as 5% with hopeful investors eager to see the multi-year investigation into the world’s largest crypto exchange resolved. The move weighed on the rest of the crypto market. Ripple’s XRP fell 4%, Solana was down by more than 6%. Polygon and Uniswap lost 9% and 6%, respectively. Meanwhile, bitcoin was off its lows but down by 1.66%, hovering just below $37,000. Ether was last lower by about 3% at $1,976.13.

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