Ether plunges after SEC says “dozens” of ICO investigations underway
The price of ether, the cryptocurrency of the Ethereum network, has fallen below $500 for the first time this year. The decline comes days after a senior official from the Securities and Exchange Commission acknowledged that the agency had "dozens" of open investigations into initial coin offerings. The price of ether has fallen 19 percent in the last 24 hours, from $580 to $470.
“We’re doing obviously a lot in the crypto space, and we’re seeing a lot in the crypto space,” said Stephanie Avakian, co-director of the SEC's Enforcement Division, at a conference on Thursday. “We are very active, and I would just expect to see more and more."
