These 3 Metaverse Cryptos Fell Off a Cliff This Week
For most top cryptocurrencies, it's been a rather daunting week. Coinbase-riot-platforms-and-cipher-mining-are/?utm_source=nasdaq&utm_medium=feed&utm_campaign=article&referring_guid=b88737b4-89b6-4c74-8666-63b20b5868e0" target="_blank">Formal lawsuits brought forward by the Securities & Exchange Commission (SEC) against both Binance and Coinbase Global have resulted in many tokens seeing stark declines. Notably, the SEC has focused some of its efforts on metaverse-related tokens, resulting in steep declines in some top names in this space.
At the time of writing, Internet Computer (CRYPTO:ICP), Decentraland (CRYPTO:MANA), and The Sandbox (CRYPTO:SAND) dropped 11.2%, 14.4%, and 15.4% from Friday's close last week.
The charges against both Binance and Coinbase vary widely, and in many respects, are more closely associated with how the SEC thinks exchanges should be regulated. That's an entire discussion for another article.