SEC’s Securities Label on Solana Leads to Exchange Delistings and Price Plunge

The U.S. Securities and Exchange Commission (SEC) has labeled Solana as a security in its ongoing lawsuit against Solana, Coinbase, and Binance. This led to various exchanges, including Robinhood, removing SOL from their listing. This development has negatively impacted SOL’s price and prompted numerous validators on the Solana network to consider a fork as a means to protect themselves from the agency’s scrutiny. Anticipation of Upgrade on SOL! The Solana community is seriously contemplating a potential fork of the network, believing that it might ease the SEC’s examination. Additionally, a fork could potentially alleviate the selling pressure stemming from Alameda Research’s significant holdings of SOL tokens. Alameda Research currently owns 8.2% of the total supply of SOL shares and is expected to sell a significant portion of it. This could lead to a drop in Solana’s price on the charts. HGEABC, the founder of Abracadabra, was among those who shared […] The post SEC’s Securities Label on Solana Leads to Exchange Delistings and Price Plunge appeared first on COINTURK NEWS.