Here’s Why the CFTC’s Charges Against BitMEX are Bad for DeFi

[Dociko]

The crypto industry was shocked to hear that the U.S. Commodities and Futures Commission (CFTC) formally charged the three co-founders of BitMEX today. This sent shockwaves throughout the entire market, while also particularly impacting the tokens within the DeFi sector.

Many smaller tokens saw massive 10%+ drops on the news, which came about as investors fled beta assets in search of greater stability.

Bitcoin itself saw a strong selloff, with the crypto’s price plunging from daily highs of $10,900 to lows of $10,400.
Details: https://www.newsbtc.com/2020/10/02/heres-why-the-cftcs-charges-against-bitmex-are-bad-for-defi/