Coinbase CEO Brian Armstrong Fires Back at the SEC; Bitcoin's 'Big Ken Energy'

And exploit trade more than $300 million in July and Bitcoin gives Kenner welcome to Coy Desk Daily. I'm your host, Jenna Bitcoin is pairing some earlier gains today. After touching an intra day high of $29,500. The largest Cryptocurrency by market cap is now trading closer to $29,200 following curve finance being drained of $50 million in the latest def exploit a re entr bug in the program language allowed Attackers to make repeated calls to the protocol to steal assets. The curve token is currently trading at around 60 cents down more than 13% on the day. Crypto traders lost $303 million in July from exploits and hacks. According to data from security audit firm CTE, the SEC asked Coinbase to stop trading in all cryptocurrencies except Bitcoin before suing the exchange. That's according to the financial times who cited Coinbase, Ceo Brian Armstrong Armstrong told the publication they were left with no choice but to head to court. In response, the SEC said its enforcement division did not make formal requests for companies to delist crypto assets separately. The Sec sued internet marketer, Richard Schuller known as Richard Hart for his projects, Hex Pulse Chain and Pulse X alleging he raised over $1 billion by offering unregistered securities. They also alleged he defrauded investors by using their funds for personal goods including the enigma of the world's largest black diamond. The 555 carat black diamond was bought at a Sotheby's auction with crypto last year and Margot Robbie star of this summer's box office sensation Barbie said she and director Greta Gerwig would refer to two of the movie's producers as such, Kens when they talked about Bitcoin. Here's what she said in an interview with when we were like in prep for this movie, two of our wonderful producers, one of whom is also my husband when David and Tom would like, start talking about like Bitcoin or something like Greta. And I'd be like, they're being such, Ken, we talk about golf, we're like stopping Ken. So I it's hard to define what makes a can but there can also be, there can also be Big Ken energy. And that's a good thing, microstrategy, executive chair and Bitcoin Bull. Michael Saylor took the connection further recently, tweeting a video of the interview and commenting Bitcoin is big K energy. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.