Close Menu
Cryprovideos
    What's Hot

    3 Altcoins That Can Hit All-Time Excessive In August 

    August 4, 2025

    Bitcoin Liquidity Disaster Sparks Concern: Will Value Stall or Proceed to Go Greater? ‣ BlockNews

    August 4, 2025

    Finest Crypto to Purchase Now as Bitcoin Mining Problem Rises – CryptoDnes EN

    August 4, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Markets»IMX Dumps by Double Digits as SEC Sends Wells Notice to Immutable
    IMX Dumps by Double Digits as SEC Sends Wells Notice to Immutable
    Markets

    IMX Dumps by Double Digits as SEC Sends Wells Notice to Immutable

    By Chayanika DekaNovember 1, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    IMX Dumps by Double Digits as SEC Sends Wells Notice to Immutable

    The US Securities and Exchange Commission (SEC) has issued a “Wells Notice” to Immutable, a blockchain gaming platform. It joins a list of prominent Web3 companies targeted by the agency’s regulation-by-enforcement approach.

    Following the news, the price of IMX token declined by more than 14% in the last 24 hours, falling below $1.40.

    Abrupt Wells Notice to Immutable

    In a blog post on November 1st, Immutable expressed frustration over receiving a Wells Notice from the SEC, which, according to the platform, “non-specifically” alleges securities law violations and possible misrepresentations.

    Typically, the SEC engages in several months of discussions with a company before issuing a Wells Notice, allowing for detailed exchanges and a clearer understanding of the situation. However, in the case of Immutable, this standard process was skipped entirely.

    Immutable reported that in its first interaction with the SEC, the company was informed it would receive a Wells Notice within the week. However, it arrived within hours and lacked the in-depth explanation typically expected in such cases. Immutable claimed that the notice offered only minimal detail, with fewer than 20 words explaining the allegations, which the platform speculates could be regarding its IMX token listing from 2021.

    This abrupt action was taken with almost no direct communication or context, which led Immutable to question the SEC’s intentions, especially given the timing near the US election. It is important to note that this notice often precedes formal enforcement action.

    “Despite the SEC indiscriminately claiming that tokens across the industry are securities, we are confident the IMX token is not. If the manner of providing clarity to the industry is by winning against this attempted regulation by enforcement, then Immutable is happy to do so.”

    Immutable Prepared to Fight Back

    The latest development places Immutable alongside industry giants like Coinbase, Consensys, Ripple, OpenSea, Uniswap Labs, Bittrex, and Crypto.com, which have received a Wells Notice from the securities regulator. Several players have pushed back, arguing against the regulator.

    Immutable also asserted that it remains well capitalized with a large war chest to build for the future of gaming and would fight back if needed.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    3 Altcoins That Can Hit All-Time Excessive In August 

    August 4, 2025

    Character.AI Introduces Groundbreaking AI-Native Social Feed

    August 4, 2025

    Bored Ape Sells for $2.3M – Are NFTs Gearing Up For A Bull Run?

    August 4, 2025

    3 Altcoins at Danger of Main Liquidations within the First Week of August

    August 4, 2025
    Latest Posts

    Bitcoin Liquidity Disaster Sparks Concern: Will Value Stall or Proceed to Go Greater? ‣ BlockNews

    August 4, 2025

    Finest Crypto to Purchase Now as Bitcoin Mining Problem Rises – CryptoDnes EN

    August 4, 2025

    Subsequent 1000x Crypto Predictions: The First Layer 2 For Bitcoin, $HYPER Token

    August 4, 2025

    Bitcoin Demand Holds Sturdy Regardless of Value Drop: Accumulation Pattern Stays Intact

    August 4, 2025

    Bitcoin caught between sellers and liquidations: Will BTC battle to go increased?

    August 4, 2025

    Gold legally barred from what BTC, XRP, TON, ETH are actually doing to Wall Avenue

    August 4, 2025

    Bitcoin Restoration Outlook Clouded by Macro Dangers

    August 4, 2025

    Worth predictions 8/4: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, XLM

    August 4, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Uniswap (UNI) And Litecoin (LTC) Costs Rally, However This Crypto Will Be The New Solana | Dwell Bitcoin Information

    January 21, 2025

    Eventhive: Prestmit to headline Crypto & DEFI Discussion board 2025 in Lagos

    June 10, 2025

    Why Bitcoin and Crypto Merchants Ought to Pay Consideration to Rising Bond Yields – Decrypt

    April 8, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.