U.S. election Impacts Bitcoin and altcoins, SEC scrutiny rises

WikiBit 2024-11-06 04:26

Bitcoin faces increased volatility as the U.S. presidential election approaches, with uncertainty pressuring the market. Altcoins like Ethereum and Solana

SEC Tightens Scrutiny on Crypto Firms

In related news, the SEC has intensified its scrutiny of

cryptocurrency

companies, with blockchain gaming platform Immutable facing potential legal action over its IMX token. Immutable has announced it will vigorously defend its position, claiming that IMX does not qualify as a security.

Meanwhile, stablecoin issuer Tether reported record third-quarter profits of $2.5 billion, supported by $120 billion in USDT circulation and strong reserves in U.S. Treasuries.

Floridas state pension fund is also making headlines, with CFO Jimmy Patronis expressing support for expanding its $800

million crypto

portfolio as a hedge against federal control. This move could gain momentum if former President Trump is re-elected.

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