Scaramucci, Mark Cuban Expose SEC Oversight of Cryptocurrencies, Market Drop Triggers Liquidations, and More: This Week in Crypto

Last week was an eventful one in the world of cryptocurrencies. From increased regulatory scrutiny to massive speculation and market fluctuations, the crypto space kept everyone on their toes. Here’s a quick recap of the top stories that marked the week.

Scaramucci Denounces SEC’s Control of Cryptocurrencies

Former White House communications director, Anthony Scaramucciexpressed concerns about the SEC’s increased oversight of cryptocurrency platforms. He suggested it could potentially impact Vice President Kamala Harris’ chances in the upcoming election. The SEC, led by Gary Genslerrecently issued a Wells Notice to NFT marketplace OpenSea, indicating its intention to sue the company.

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Cryptocurrency markets fall ahead of key data release

Cryptocurrency markets trended lower as traders awaited economic data and Nvidia earnings on Tuesday. Major cryptocurrencies like Bitcoin, Ethereum and Dogecoin were all trading lower.

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See also: Shiba Inu Lead Developer Shytoshi Kusama Reacts as Kraken Adds Memecoin as New Collateral — Burn Rate Hits 139103%

Mark Cuban Questions SEC Chairman’s Intentions

Billionaire investor and TV celebrity Marc Cuban Cuban took a dig at SEC Chairman Gary Gensler, asking if he was deliberately trying to undermine Sen. Elizabeth Warren. Cuban implied that Gensler might be a closet supporter of pro-cryptocurrency lawyer John Deaton.

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Major cryptocurrencies fall, triggering liquidations

The cryptocurrency market took a dramatic plunge on Tuesday, triggering a wave of liquidations. Bitcoin fell below $59,000, marking its lowest level since August 19, while Ethereum saw a sharper decline, dropping to an intraday low of $2,400.

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Bitcoin sell-off ahead of Nvidia results deemed ‘technical’

Kelly Greer of digital asset firm Galaxy Digital attributed Bitcoin’s drop below $60,000 to a “technical selloff” ahead of Nvidia’s earnings call. She noted that over $1 billion worth of BTC was sold early Wednesday morning, involving over 17,000 coins.

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This story was generated using Benzinga Neuro and edited by Anan Ashraf.