Aug 4, 2023

“CoinDesk Daily” host Zack Seward dives into today’s hottest stories in crypto, as Coinbase files a motion requesting a judge to dismiss a recent lawsuit from the U.S. Securities and Exchange Commission.

Video transcript

One presidential candidate now accepting Bitcoin donations and coin base fights back against the SEC. Welcome to Coin Desk Daily. I'm your host, Zach Seward in for Jenna. Let's go take a look at the markets. Bitcoin is currently trading around $29,000. The largest crypto by market cap slipped after the release of the monthly jobs report this morning but has since rebounded back to its tight trading range. The US Labor Department revealed 187,000 jobs were added last month with the unemployment rate little changed at 3.5%. It could be a sign that the labor market is beginning to cool after nearly 18 months of aggressive rate hikes by the fed coin base is asking a judge to dismiss a lawsuit from the SEC. The regulator sued Coinbase in June alleging the exchange violated federal securities laws in a motion filed today. Coinbase says the regulator is stepping outside its jurisdiction during an earnings call on Thursday. Coin base chief legal officer Paul Gray Wall spoke optimistically about the litigation with respect to the litigation with the SEC. I want to be very clear, we do think we can win. Um We expect to win, but it's important to understand that our goal um across not just the litigation but all of our efforts um engaging with the sec and engaging with the US government as a whole is to achieve regulatory clarity, to protect consumers, promote innovation and essentially establish clear rules of the road that everyone can understand and follow. And Miami Mayor Francis Suarez is now accepting Bitcoin donations in his bid for us president, the crypto friendly politician announced he was joining the Republican primary in June Coin STV spoke to him earlier today about the announcement. It's a watershed moment for the country to have a candidate who gets their public sector salary paid in Bitcoin. Um and uh has actually borrowed money against that Bitcoin account, uh creating more utility for Bitcoin and showing that um it is an asset that has value and that's a wrap for Coin De Daily. Check out more updates over on coindesk dot com and we will see you next time. Thanks so much.

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