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Why Cosmos, Tezos, and FTX tokens Are Experiencing Sharp Sell-offs Today

Why Cosmos, Tezos, and FTX tokens Are Experiencing Sharp Sell-offs Today

Cosmos (CRYPTO: ATOM), Tezos (CRYPTO: XTZ), and FTX (CRYPTO: FTT) are down 17.12%, 22.26%, and 11.02%, respectively, in the past 24 hours as of 2:54 p.m. EDT. First, chairman Gary Gensler of the U.S. Securities and Exchange Commission said on Sept. 14 that many DeFi tokens were trading as securities, thus requiring regulation.