The largest one-day decline in more than three months occurred on Monday as the price of Bitcoin (BTC) fell in response to news of US Securities and Exchange Commission (SEC) enforcement action against Binance, the largest cryptocurrency exchange in the world. This loss of leveraged long positions in the Bitcoin futures market totaled $100 million. — As a result of the SEC’s 13-count lawsuit against Binance, Binance.US, and the exchange’s founder Changpeng Zhou (CZ), which includes operating as an unregistered securities exchange in the US against the law, Bitcoin fell into the mid-$25,000 range.