SOL, ADA, MATIC Prices Stabilize as Foundations Hit Back on SEC Lawsuit Allegations

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SOL, ADA, MATIC Prices Stabilize as Foundations Hit Back on SEC Lawsuit Allegations
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The development foundations of $SOL, $ADA and $MATIC have hit back at the SECGov's allegations in the past few days, which is likely boosting investor confidence. By shauryamalwa.

showed relatively low open interest and liquidations, suggesting the move was led by spot trading.

The development foundations of these tokens separately released statements in the past few days that hit back on U.S. Securities and Exchange Commission allegations, likely boosting investor confidence.that it did not consider SOL to be a security, with some developers stating they did not expect development atop the Solana network to decline in the coming weeks.

Earlier last week, the SEC accused crypto exchanges Binance of Coinbase of multiple charges, such as offering unlicensed securities to U.S. investors, and named alleged tokens to be securities. These tokens were issued by foundations and companies or tied to several protocols. Sandbox , Filecoin , Axie Infinity , Chiliz , Flow , Internet Computer , Near , Voyager , Dash and Nexo were named as securities.

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