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Fortune

Ben Weiss

Bitcoin and Ethereum sag as SEC suit against Coinbase weighs on crypto market

SEC Coinbase Bitcoin Crypto Binance Lawsuit

People balancing on top of a Bitcoin. (Credit: Illustration by Fortune)

(Some Fortune Crypto pricing data is provided by Binance.)

The prices of Bitcoin, Ether, and other top cryptocurrencies dropped marginally just after the Securities and Exchange Commission sued U.S. crypto exchange Coinbase—just one day after the agency filed another blockbuster lawsuit against Binance, the world's largest cryptocurrency exchange.

Bitcoin was immediately down about 1%, Ether 0.7%, and BNB, Binance's digital currency, dipped to a low of 1%. Bitcoin began the day at $25,700 and dropped to a low of $25,400. The total market capitalization of all cryptocurrencies sagged about 0.7% .

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