The lawsuits against top crypto exchanges Binance and Coinbase by the US Securities and Exchange Commission (SEC) have not been able to severely impact the price of Bitcoin which is the largest cryptocurrency, and other digital coins.
Bitcoin, the largest cryptocurrency by market capitalisation, hovered around $26,500 per digital coin this week as investors remained largely unstirred by the SEC lawsuits.
The leading cryptocurrency took an initial dive below $26,000 on Tuesday but held steady above the threshold throughout the week, with analysts suggesting that investors had already priced in the actions, according to Coindesk.
“It’s hard to imagine a tougher regulatory situation facing the digital asset industry in the United States than what’s happening right now,” Andrew Lawrence, co-founder and CEO of onchain custody platform Censo, was quoted as saying.
“It can feel pretty bleak, and yet there’s been a tremendous resilience shown by Bitcoin and other key crypto assets,” he added.
