URGENT: SEC Sends Robinhood a “Wells Notice” and Bitcoin Price Drops!

According to Reuters, the U.S. Securities and Exchange Commission (SEC) has sent Robinhood a “Wells Notice.”

A “Wells Notice” is a warning that the SEC may file a lawsuit.

Commenting on the “Wells Notice,” Robinhood stated: “We are disappointed with the SEC’s decision to issue a ‘Wells Notice’ regarding our cryptocurrency business in the United States.”

Following this news, Bitcoin dropped below $64,000.