The SEC’s “crypto asset securities” ambit now covers tokens worth over $100 billion, or around 10% of the total crypto market capitalization, which was $1.09 trillion at press time.Source:
This is a significant development for the crypto industry, as the SEC’s decision to name a specific token as a security can make brokers reluctant to offer it, which can impair its liquidity and price., traders suffered over $297 million in losses over the past 24 hours. Binance witnessed the largest liquidation of funds during the period, i.e. $97.45 million.
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