Binance Coin has dropped by over 5% in the past 24 hours following the news regarding BUSD and Paxos.
Bitcoin had tapped $22,000 hours before the latest regulatory scrutiny coming from the US, this time going after Paxos and the BUSD stablecoin the company issues.
Somewhat expectedly, the altcoins have reacted even worse, with HBAR, APT, FTM, GRT, and a few others dumping by double digits.Bitcoin was performing a lot better at the start of the month when it pumped above $24,000 for the first time in over five months after the latest interest rate hike from the US Federal Reserve.
However, the asset failed to continue upwards and returned to $23,000 in the following days. The landscape took a turn for the worse after the US SEC went after crypto staking, and BTCThe weekend was a bit more positive, with bitcoin recovering some ground and going up to $22,000. At this point, though,
emerged that the SEC plans to undertake legal actions against Paxos because it supposedly sells unregistered securities in the form of Binance USD .This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
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