SEC Lawsuit Targets 31 Altcoins Including XRP Amid Coinbase Legal Battle
22.04.2025 11:04
A new lawsuit filed by the Oregon Attorney General’s Office against Coinbase is shaking up the crypto market. The legal action targets 31 cryptocurrencies as alleged securities, a significant escalation from a previous case where the SEC had identified only 13 cryptocurrencies. Among the coins named are XRP, Cardano (ADA), Solana (SOL), Chainlink (LINK), Uniswap (UNI), and AAVE, with MATIC also recalled from earlier SEC labeling. The suit alleges that Coinbase either participated in or facilitated the trade of unregistered securities in Oregon, impacting over 500,000 users. Although XRP was relisted on Coinbase in July 2023 following a favorable ruling by a New York federal court, its inclusion in this broader lawsuit introduces renewed regulatory risk and uncertainty. Industry observers warn that the legal challenge could lead to short-term sell-offs and increased volatility across affected altcoins as the crypto sector braces for prolonged regulatory scrutiny.
XRP may see immediate price pressure as renewed legal claims introduce uncertainty, despite its past favorable ruling. Short-term volatility is likely, while long-term recovery will depend on further legal clarifications.
ADA is likely to face short-term downward pressure as regulatory fears heighten. The potential classification as a security could trigger short-term selling, with long-term impacts hinging on subsequent legal outcomes.
SOL, already under regulatory scrutiny from a previous SEC case, may experience intensified selling pressure leading to short-term dips. The extent of long-term recovery remains uncertain.
LINK is expected to undergo short-term volatility as investors react to heightened regulatory risk. The added uncertainty could delay long-term price gains unless favorable legal interpretations emerge.
UNI could see a decline in investor confidence due to the broad sweep of the lawsuit, leading to short-term price drops. Its long-term performance will be influenced by the evolving judicial resolution.
AAVE may experience immediate negative impacts from the lawsuit as investor sentiment turns cautious. Short-term declines are likely with long-term prospects tied to the broader regulatory landscape.
MATIC, previously identified as a security by the SEC, is likely to face compounded negative pressure from this new legal challenge, leading to further short-term declines and potential long-term uncertainty.
Sources
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