SEC asks Binance to provide docs before completing transactions

SEC asks Binance to provide docs before completing transactions

The SEC has asked the U.S. court to force Binance to produce documents that would be required to be produced by the time the transaction is finalized.

The week began in the green, but bullish momentum plateaued after the agency's ongoing legal battle with Binance, the world's largest cryptocurrency exchange.

In the early morning of Sept. 18, a major portion of the top 20 digital assets by market capitalization rallied between 1% and 2%. This surge vanished following the SEC's request for an inspection of Binance US and the agency's subsequent request for courts to force the exchange to provide relevant documentation.

Bitcoin fell about 2% from a peak near $27,394, to $26,868, while Ether fell 1.6% to $1,640.

Solana's SOL has shown its resilience, posting a 11% gain over the past seven days.

On a four-day gain, Toncoin rose 49%, followed by Bitcoin Cash at 193%, and Litecoin at 14%.

The combined DeFi market capitalization has grown by approximately 7% in the past week, according to CoinGecko.

Half of the top-performing tokens in the sector rose more than 10%. Thorchain is up 30.8% and Aave 17.5%, followed by Maker and Chainlink, which rallied 15%.

In the last week, the Base network has again become the top Layer 2 network by throughput, which is up 130% in the past week. The resurgence of social app is fueling increased activity on Base.