The prices of major cryptocurrencies such as Bitcoin and Ether experienced a slight drop after the Securities and Exchange Commission (SEC) filed lawsuits against two major crypto exchanges, Coinbase and Binance. Bitcoin fell by 1%, Ether by 0.7%, and Binance's digital currency, BNB, dropped to a low of 1%.

The SEC's lawsuit against Coinbase specifically listed 13 cryptocurrencies as securities, including Solana, Cardano, and Polygon, causing a decline in their prices. The SEC alleges that Coinbase was operating as a broker, national securities exchange, and clearing agency without registering with the agency.