Why is Ethereum (ETH) price down today? By Cointelegraph

Ether (ETH) price is down on March 10, reaching a monthly low of $1,379 after New York Attorney General Letitia James alleged in a lawsuit against major crypto exchange KuCoin for not registering securities while maintaining that Ether is a security under the law.

Ether price was dealt another blow when Silicon Valley Bank stock lost $80 billion on March 9 and was subsequently closed by the FDIC on March 10. This is one day after Silvergate Capital (NYSE:) Corporation decided to voluntarily liquidate Silvergate Bank.