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1. What a mess these two #SEC lawsuits have created: first, the one filed yesterday against #Binance, and second, the one today against #Coinbase! What are the reasons? The SEC has deemed 12 #crypto tokens as securities, namely: 
2. BNB, BUSD, SOL, ADA, MATIC, #FIL, ATOM, #SAND, #MANA, #ALGO, AXS, and COTI. Because of this, the SEC is accusing both crypto exchanges of running illegal exchange operations. How might this affect the broader crypto market? First of all, we have an increased risk associated
3. with #altcoins. Therefore, building a crypto portfolio using blue-chip coins like #Bitcoin and #Ethereum would be much more sensible under these circumstances (however, please bear in mind that ETH is not entirely outside the possible #SEC regulatory purview).
4. Secondly, a much more severe consequence could be the #delisting of the aforementioned coins from many crypto exchanges, especially those with close ties to the #US, like #Kraken, which could damage their #market prices.
5. Thirdly, the most extreme consequence could be an injunction to freeze #Binance’s #funds due to ongoing legal proceedings. This would greatly affect Binance’s #liquidity and could lead to significant price fluctuations on overall #market.
6. While I think this is rather unlikely, it would have massive consequences for the industry and prices in the short term.
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