In its lawsuit, the regulator claims that Changpeng Zhao created a “network of deception” through the cryptocurrency exchange Binance. The site is also accused of falsifying trading volumes and trading in unregistered securities. In doing so, the SEC has equated 61 tokens at once, including rather large assets like SOL, ADA, MATIC and ATOM.
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This lawsuit led some investors to decide to sell their bitcoins, which resulted in the first cryptocurrency falling by 5%. And for the week the price of bitcoin fell by 7.5%. BTC is now trading at $25,700, although just a week ago the rate reached $27,800;
Analysts stressed that at the level of $25,000 there is strong support for the first cryptocurrency. However, if the exchange rate falls below that level, we should expect further sell-offs.
Note that the fall of bitcoin led to a decline in the entire cryptocurrency market.