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

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Founder and CEO of Binance Changpeng Zhao, commonly known as "CZ", attends the "CZ meets Italy" at Palazzo Brancaccio on May 10, 2022 in Rome, Italy. 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 worlds largest crypto exchange resolved. The move weighed on the rest of the crypto market.

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