SEC Crackdown Sends Shockwaves Through Crypto Markets and Exchanges

Bitcoin fell to $25,501 on Saturday, while smaller digital coins like Solana, Cardano, and Dogecoin plunged to 2003 lows or worse, following the SEC regulatory crackdown on cryptocurrency exchanges. The SEC has filed charges against Binance and Coinbase for alleged securities violations and operating illegally in the US. The SEC has also named Cardano and Solana as unregistered securities, causing Robinhood Markets to delist them. The fear of liquidity drying up, especially for smaller digital coins, and general concern about the SEC regulatory crackdown, could be the reason for the tumble.