SEC Charged Firms Missed Deadlines

The Securities and Exchange Commission (SEC) of the United States has filed charges to several firms previously. The companies collectively raised around $40 million through unregulated initial coin offerings (ICOs) in 2017.

In a report on November 14, the firms agreed to repay investors or be more transparent in exchange for lower fines. However, they did not provide any follow-ups.

In addition to that, Airfox and Paragon Coin missed the first deadline to repay investors who purchased their tokens, which was on October 16. Furthermore, a third startup is more than five months late on giving its investors the information they must have to choose whether they want refunds or not.

Thus, all of them failed to meet the deadlines in repaying investors following the charges from the SEC.

 

Crypto Price

Meanwhile, the Bitcoin (BTC) price has been displaying a slight movement over the last few days. Recently, it dropped below its $8,600 price mark. The world’s largest cryptocurrency began Thursday at an intraday high of $8,800. After that, it slowly moved downwards to its recent trading price, with a loss of 1.75%.

Aside from that, cryptocurrency markets are mainly trading sideways. Tezos is the only top-20 coin with notable gains of over 11%.

Then, going back to Bitcoin, Horus Hughes stated that Bitcoin’s price had pierced the $8,674 support three times during the past few days. This heightened the possibility that BTC may go back to lower lows of about $8,480.

Hughes also said that in the occurrence of a failing wedge breSEC Charged Firms Missed Deadlinesakdown, the price of Bitcoin might fall further to $7,862. But he claimed that before this event happens, buyers may step in around $8,300 and $8,000.

Similarly, Ether (ETH) has also been trading sideways. Its current price is sitting around $185. The number one altcoin showed a slight decline in sync with BTC to see a small loss of about 1.74%.