The cryptocurrency is poised for a $24 billion earthquake after the SEC bomb hit the price of Bitcoin and Ethereum

Bitcoin BTC, Ethereum and other cryptocurrencies have been hit hard by US regulators – with rumors of an “alliance” to destroy cryptocurrencies circulating.

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Bitcoin fell to its lowest levels since March, even as stocks rose ahead of Federal Reserve projections of a “barrel of powder,” sending ethereum lower after the Securities and Exchange Commission (SEC) sued Binance and then Coinbase, two of the largest exchanges. Cryptocurrency in the world.

Now, as the market awaits another SEC bomb, cryptocurrency traders are scrambling to adjust their portfolios before several major cryptocurrencies are “delisted” from some large trading platforms after the coins were designated as unregistered securities.

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More from FORBESA Secret ‘Alliance to Destroy’ by ‘Usurping Congress’ – Key Elon Musk Ally Fans of wild rumors that have played havoc with the price of Bitcoin and Ethereum

The bitcoin and cryptocurrency market has been affected by recent regulatory actions, with many anticipating… [+] More shocks in Bitcoin and Ethereum prices.

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Late last week, popular trading app Robinhood said it would end support for cardano, matic, and solana — the three largest cryptocurrencies — as of June 27. on the resolution. Robinhood’s cryptocurrency trading volume fell 43% in May, to $2.1 billion, it reported this week.

Meanwhile, trading platform eToro said it will remove support for smaller cryptocurrencies algorand, decentralized, and dash in addition to Matic as of July 12.

eToro posted on Twitter: “We are committed to working closely with regulators around the world to shape the future of the cryptocurrency industry and support access for the average investor.”

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More market manipulation and insider trading from Forbes- Elon Musk and Tesla face a nightmarish new challenge

The Bitcoin price suffered a massive crash last year, wiping out trillions of dollars from… [+] Bringing together the bitcoin, ethereum and cryptocurrency market.

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“The SEC’s fight against Binance and Coinbase has had a ripple effect as US-based virtual asset service providers have begun shutting down certain services and delisting certain trading pairs over concerns about the SEC’s legal actions,” Yuya Hasegawa, Bitcoin and Currency Market Analyst Encrypted in a Tokyo-document Bitbank, he wrote in an email note.

In particular, Robihood’s decision on Friday to delist Cardano, Polygon and Solana had a noticeable impact on the prices of those tokens and a few other coins. Bitcoin was also affected but its decline was limited compared to others and the price was supported by its February high. Bitcoin has been consolidating steadily. Relatively good while the majority of altcoins suffered heavy losses last week, but it is in for a very risky week where more bad news could emerge at any time in terms of legal action by the SEC, and more broadly the financial markets are preparing for [the looming Fed interest rate decision]. “

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