Cryptocurrency Comment from Expert: SEC Will Cause Big Pain!

The cryptocurrency market is struggling to recover after the FTX debacle. According to experts, SEC Chairman Gary Gensler continues to make some unplanned moves to protect the market. The lawyer defending the XRP holders said that the developments experienced cryptocurrency stated that it could increase the problems in the market.

Lawyer John Deaton emphasized the SEC’s action plans in his Twitter posts. According to the lawyer Gary Gensler He has been dealing with crypto assets for two years. Gensler has even doubled the number of staff involved in crypto during this time.

Gary Gensler cryptocurrency review

As a matter of fact, Gary Gensler’s efforts to impose sanctions on cases not related to fraud such as Ripple, LBRY, Dragon Chain, and BlockFi did not go unnoticed. It can be seen in the reports that the second largest creditor after the bankruptcy of the BlockFi company is the SEC. As we reported, XRP attorney claimed 6 months ago that the SEC Chairman predicted that he would target and sue a major exchange for dealing with unregistered securities. Indeed, the SEC coinbaseHe turned the allegations into reality by filing a lawsuit against .

According to the XRP lawyer, another big lawsuit could come at any time that will cause even a 50% drop in prices.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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