• The U.S. Securities and Exchange Commission recently filed lawsuits against Binance and Coinbase, resulting in a drop in crypto prices across the board.
• Despite the regulatory heat, Bitcoin (BTC) and Ethereum (ETH) prices have recovered quickly with the SEC’s new suits priced into markets.
• BTC is already up 2.75% on the five-day window, while ETH had a massive rally with the latest SEC news priced into the market.
SEC Lawsuits Against Crypto Exchanges
The U.S. Securities and Exchange Commission (SEC) went after crypto exchanges last week by filing lawsuits against Binance and Coinbase for alleged violations of federal securities laws. All assets saw a plunge in prices due to this news, including BNB which dropped 10% in 24 hours before losing another 5% on Sunday and Monday to reach a multi-month low at $223.
Reaction of Bitcoin and Ethereum Prices
Bitcoin prices plummeted from $27,100 Sunday to $25,750 Monday however it quickly recovered back above the $27,000 level on Tuesday despite news of a second SEC lawsuit against Coinbase spreading around during that time period. On the other hand, Ether prices jumped from $1,800 at 1:30 pm UTC Tuesday to a high of $1,890 before session turned over; representing an intraday gain of 5%.
SEC Leaves BTC & ETH Alone
The SEC is leaving both Bitcoin and Ethereum alone for now while increasing enforcement activities against other cryptos in the industry which has caused some harm to their respective prices last week but now appears that both BTC & ETH are not going to face any consequences as they emerge unscathed from this situation with positive returns so far despite these legal issues surrounding them lately..
Implications For Crypto Markets
The fact that US regulators are not targeting Bitcoin or Ethereum provides evidence that these two coins are likely here to stay as they remain untouched by government entities even though other assets within cryptocurrency markets may still be exposed to certain legal risks moving forward when it comes to its dealings with law enforcement agencies like SEC or IRS who continue keep an especially close eye on digital asset investments due to potential security concerns associated with them being larger part decentralized networks open source technology platforms where anyone can participate without having any sort background checks being done beforehand..
In conclusion, although news of SEC’s lawsuit against Binance & Coinbase initially harmed crypto prices across board last week; it seems like both Bitcoin & Ethereum will emerge unscathed from this situation as their respective values have been able recover quite well since then showing us just how resilient these two digital assets really are when compared all others out there right now making them best choice for investors looking long term stability profits down road ahead regardless current state regulatory environment might find itself facing off against industry players time again again until more clarity has been established between different parties involved when it comes licensing requirements related transactions involving cryptos fiat currencies worldwide