In any case, the Prometheum story is the strangest thing to happen in this industry in a long time. Strangely, the story is flying under the radar so far and has received little attention.

So, what is it about? Last month, just two weeks before the SEC's actions against Coinbase and Binance US, Prometheum received approval to become the first special purpose broker-dealer (SPBD) of its kind for securities with digital assets. In doing so, Prometheum became the first company to receive approval from the Financial Industry Regulatory Authority (FINRA) to provide custody of digital securities as a broker-dealer.

Commenting on the announcement, Prometheum co-CEO Dr. Aaron Kaplan said that cryptocurrencies, which are securities, are currently traded on platforms that do not offer the same customer protections required by U.S. federal securities laws.