Metaverse Blow: SAND, MANA Drop 10%, SEC Declares Them 'Securities'
Metaverse has been a trending topic of discussion lately. The Apple Worldwide Developers Conference 2023 [WWDC ’23] was one of the main reasons why the Metaverse was under the spotlight. The technology giant unveiled its ‘Vision Pro’ AR/VR headset a day back, making the entire industry excited about its involvement in the industry. Source: LunarCrush Also Read: Ethereum: 67% of New NFTs Minted Are Profitable Just as the hype was gaining steam, the cryptoverse was stumped by another situation. The U.S. SEC sued the biggest crypto exchange, Binance, and its executive, Changpeng Zhao for securities law violations. The regulator has accused the exchange of mishandling customer funds. Additionally, it also blamed the exchange for allegedly lying to both regulators and investors regarding its operations. The agency further went on to deem a host of tokens as securities. Metaverse-related tokens like The Sandbox [ SAND ] and Decentraland [ MANA ] were a part of the list. Sou