The cryptocurrency market has fallen by 7% to below $1 trillion following regulatory actions against Binance and Coinbase by the US Securities and Exchange Commission (SEC). Bitcoin dropped 3.75% to around $25,500 while Ether fell 6.9% to around $1,700, its worst level in two months. The decline was further exacerbated by Robinhood’s decision to delist “unregistered securities” tokens from its platform, causing tokens such as Cardano, Solana, and Polygon to fall by 22%, 25%, and 30% respectively.
Key points:
– The crypto market fell by 7% to below $1 trillion following regulatory actions against Binance and Coinbase by the SEC.
– Bitcoin dropped 3.75% to around $25,500 while Ether fell 6.9% to around $1,700, its worst level in two months.
– Robinhood’s decision to delist “unregistered securities” tokens from its platform caused tokens such as Cardano, Solana, and Polygon to fall by 22%, 25%, and 30% respectively.
