Bitcoin

James

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-declines-as-imx-coin-faces-sec-lawsuit/" data-wpel-link="internal">Bitcoin Price Declines as IMX Coin Faces SEC Lawsuit</a> 
The price of Bitcoin has recently fallen below $70,000 and continues to remain under this critical level. The price dropped to $69,685, influenced by sales in the U.S. markets. However, some altcoins experienced even greater losses, with IMX Coin being one of the most affected. 
<h2 style="text-align: justify" id="imx-coin-sec-lawsuit">IMX Coin SEC Lawsuit</h2> 
A few moments ago, a signal indicated that the <a href="https://en.coin-turk.com/bitcoin-surges-to-52000-altcoins-record-significant-gains/" data-wpel-link="internal">SEC</a>‘s battle in the <a href="https://en.coin-turk.com/federal-reserve-limits-crypto-friendly-banks-operations/" data-wpel-link="internal">crypto</a> space will intensify. The IMX price decreased by 10% because the SEC issued a Wells notice regarding the <a href="https://en.coin-turk.com/pump-fun-exceeds-100-million-in-total-revenue/" data-wpel-link="internal">token</a>. This notice is a warning that the SEC is preparing to file a lawsuit, as seasoned market participants understand. The token’s price dropped to $1.22. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-402545 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/11/IMXUSDT_2024-11-01_00-06-38.png" alt="" width="1814" height="836"> 
The company announced that a lawsuit would be filed against Immutable’s “primary organization,” Digital Worlds Foundation, as well as CEO James Ferguson, for violating securities laws. A company spokesperson stated: 
<blockquote> 
 “Despite the SEC’s broad claims that tokens in the industry are securities, we are confident that the IMX token is not a security. The notice only referenced legal provisions without providing details.” 
</blockquote> 
A spokesperson from Immutable accused the SEC of hastily issuing Wells notices to crypto companies, especially with the likelihood of changes in the current administration after the elections. 
The post <a href="https://en.coin-turk.com/bitcoin-price-declines-as-imx-coin-faces-sec-lawsuit/" data-wpel-link="internal">Bitcoin Price Declines as IMX Coin Faces SEC Lawsuit</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Price Declines as IMX Coin Faces SEC Lawsuit

Table of Contents

COINTURK NEWS

Other articles published on Oct 31, 2024

Coinbase stock: COIN a Buy despite Q3 revenue miss, analyst says

Raoul Pal Highlights Solana’s Key Support Level for Potential Market Upswing

Canary Capital Pushes Solana ETF Bid with SEC: What It Means for Investors

Kraken Cuts 15% of Workforce Amid Structural Changes Under New Co-CEO Leadership

Post-Election Clarity Could Ignite Ethereum, Altcoin Rally: Bitwise CIO

Weekly Article Recap: 10/14-10/18

Join our free newsletter for daily crypto updates!