Coinbase ($COIN) just can’t seem to catch a break lately. Yesterday, S&P Global Ratings lowered Coinbase’s rating from BB+ to BB. The rating agency cited the bear market in cryptocurrencies as well as increased scrutiny from the SEC.
Leon Li, the founder of cryptocurrency exchange Huobi, is on the lookout for a buyer of 60% ($3 billion) of Huobi. Tron ($TRX.X) Justin Sun and FTX ($FTT.X) founder Sam Bankman-Fried are rumored to be interested.
Liquidity provider Paradigm and FTX are planning on launching spread trading – no word on if non-accredited US clients will be able to take advantage of this market.
Speaking of FTX, the nation of Uzbekistan announced a large collection of cryptocurrency exchanges are now banned from operating in their country unless they have a license. The exchanges so far include but are not limited to FTX, Binance, Bybit, and Huobi.