In the latest lawsuit against Binance, the SEC claims that altcoins like SOL MATIC, ADA, SAND, MANA, and AXS are also securities.
The United States Securities and Exchange Commission (SEC) announced a high-profile lawsuit against Binance on the evening of June 5, but a host of other altcoins such as Solana and Polygon are also within the agency’s sights.
Binance and CZ have been indicted on 13 counts by the SEC, allegedly mixing customer funds and attempting to evade US securities laws with tampering controls to determine who might be doing business with the company. company.
But the SEC also stated that Solana, Polygon, Cardano, and many other altcoins are securities in the lawsuit. Almost all of them are the biggest projects of the crypto market, with a market capitalization of billions of dollars.
The projects mentioned by the SEC include Binance’s BNB, BUSD and 10 other altcoins including: Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND). ), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS) and COTI (COTI).
Immediately after the enforcement action by the SEC, the crypto market experienced quite a bit of volatility, while Bitcoin (BTC) dropped more than 5% to below $26000, Solana (SOL) dropped 8% to 20.14 USD for 1 hour, according to CoinGecko .
Alogrand (ALGO) is down 9.9% to around $0.13, at press time.
Polygon and Polkadot also saw significant declines, dropping 7% and 6.9% respectively over the past 24 hours, according to CoinGecko .