Bitcoin's Resilience Tested Amid SEC Lawsuits Against Binance and Coinbase.

Bitcoin quickly bounced back after tumbling to a three-month low following news that Coinbase had been sued by the SEC on allegations of violating federal securities law. This followed a similar suit against Binance on Monday. The Coinbase lawsuit also listed 13 tokens which could be deemed as securities, including Cardano’s ADA, and Polygon’s MATIC, both of which are down 5% over the past 24-hours. Despite attempts to slow down the crypto market with unclear regulation, the market remains confident on the outlook for the space. Cathie Wood’s Ark Investment Management added to its investment in Coinbase after the SEC lawsuit Tuesday sent the share price tumbling.