Altcoins Dip Following SEC Lawsuit
Tokens named in the Securities and Exchange Commission (SEC) complaint against Coinbase (COIN) are plummeting.
The SEC filed a similar claim against Binance the day before, alleging violations of federal securities law. In pre-market trading, the exchange’s shares fell 20%.
Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Sandbox (SAND), Axie Infinity (AXS), Chiliz (CHZ), Internet Computer (ICP), Voyager Token (VGX), NEAR protocol (NEAR), NEXO, FLOW, and DASH are among the tokens named in the case.
VGX was the hardest impacted of the thirteen listed assets, losing 3.25% in the last hour. Solana’s SOL declined roughly 2% and was down 9% in the last 24 hours. Solana’s SOL was amongst the named tokens in Binance’s lawsuit on Monday. The Sandbox’s SAND, listed in both the Coinbase and Binance lawsuits, has lost 16% over the last 24 hours.
(With inputs from Shikha Singh)
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