Crypto Foundations Defend Against SEC's Security Label
TL;DR Summary
Prices of Solana's SOL, Cardano's ADA, and Polygon's MATIC stabilized and reversed some losses after a sudden sell-off over the weekend. The development foundations of these tokens released statements hitting back on U.S. Securities and Exchange Commission (SEC) allegations, likely boosting investor confidence. The SEC accused crypto exchanges Binance and Coinbase of multiple charges, such as offering unlicensed securities to U.S. investors, and named alleged tokens to be securities. On Saturday, prices of SOL, ADA, MATIC fell as much as 30%.
- SOL, ADA, MATIC Prices Stabilize as Foundations Hit Back on SEC Lawsuit Allegations CoinDesk
- Solana, Cardano, Polygon Push Back Against SEC 'Security' Label Decrypt
- Solana, Polygon React to SEC's Token Classification BeInCrypto
- Polygon, Solana Join Cardano in Dismissing the SEC’s Allegations CryptoPotato
- SOL is not a security, says the Solana Foundation Cointelegraph
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