Crypto Mayhem On Saturday: Why Polygon, Solana, Dogecoin, Shiba Inu, And Other Altcoins Are Tumbling
Portfolio Pulse from Shanthi Rexaline
Cryptocurrencies experienced a sharp pullback on Saturday, with altcoins such as Polygon, Solana, Dogecoin, and Shiba Inu tumbling. The decline is attributed to the SEC's lawsuits against Binance and Coinbase Global, Inc. (NASDAQ:COIN) and the decision to label 13 tokens as securities, potentially subjecting them to stricter regulations.
June 10, 2023 | 3:50 pm
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Coinbase Global, Inc. (NASDAQ:COIN) is facing a lawsuit from the SEC, which may lead to stricter regulations for 13 tokens and impact the company's operations.
The SEC's lawsuit against Coinbase and the potential stricter regulations for 13 tokens may negatively impact the company's operations and revenue, leading to a short-term decline in its stock price.
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