Major cryptocurrencies like Solana (SOL), Polygon (MATIC), Cardano (ADA), and many others – are plummeting in value. Earlier this week, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance, its CEO, and the US arm of the firm. The very next day, the SEC completed the one-two punch, filing another case against the leading US-based crypto exchange – Coinbase. The main reason seems to be the fact that the SEC a “non-exhaustive” list of 13 cryptocurrencies that it considers to be fraudulent.
Source: George Georgiev, 2023-06-11; https://cryptopotato.com/bloodbath-the-reasons-behind-sol-matic-ada-sand-crash-today/