Why is the crypto market down today? By Cointelegraph

The cryptocurrency market fell 7% below $1 trillion on June 10, continuing its decline in the week that saw the industry’s biggest exchanges, Binance and Coinbase (NASDAQ:), facing regulatory actions by the U.S. Securities and Exchange Commission (SEC).

(BTC), the leading cryptocurrency by market capitalization, dropped 3.75% to around $25,500. Second-largest cryptocurrency Ether (ETH) fell 6.9% to around $1,700, its worst level in two months.