Last week, the SEC filed lawsuits against cryptocurrency exchanges Binance and Coinbase, classifying cryptocurrencies SOL, ADA, FIL, SAND, MANA, ALGO, AXS and MATIC as securities. In response, the Polygon Labs team said on Twitter that the company has always worked internationally and has not focused only on the U.S. market.
Polygon Labs developers stressed that despite the situation with the SEC, the security and resilience of the network remains a priority for the company. They also promised to share technical announcements this week.
“We are proud of Polygon’s history of a network that was developed outside of the U.S. and to this day focuses on the international community. MATIC is an integral part of Polygon, providing network security. We made sure MATIC was accessible to a wide audience, so we never targeted the U.S.,” Polygon Labs said.
Still, the regulator’s actions have had a negative impact on MATIC. Robinhood announced its intention to delist MATIC, along with ADA and SOL. Support for these cryptocurrencies will be discontinued as of June 27, 2023. MATIC exchange rate fell by more than 33% in a week. On Saturday, June 10, the MATIC coin fell sharply to $0.5089, although a few days ago it was trading at $0.8057.
Earlier, Polygon CEO Sandeep Nailwal said that even amid a bearish trend in the cryptocurrency market, the Web3 sector continues to grow thanks to new developments.<br