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<p>Cardano&#39;s ADA cryptocurrency has plunged by 23% in the last 24 hours, amid fears of a clash with the U.S. Securities and Exchange Commission (SEC). The sharp drop comes after the SEC filed a lawsuit against <a href="https://www.coingabbar.com/en/crypto-currency-news/lawyers-emphasize-ripple-case-in-coinbase-binance-actions" rel="noopener noreferrer nofollow">Coinbase, </a>suggesting several altcoins, including ADA, could be classified as securities. This has led to almost $400 million in market liquidations. However, Input Output Global, the firm behind Cardano&#39;s ecosystem, has refuted these claims, insisting that ADA is not a security in a recent blog post. The rest of the altcoin market is also experiencing significant downturns.</p>

Massive 23% Drop: Cardano (ADA) Crashes as Liquidations Soar to $400M

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