The Input-Output Global (IOG), the organization that maintains and develops the Cardano network alongside other foundations behind Solana (SOL) and Polygon (MATIC) is up in arms with the United States Securities and Exchange Commission (SEC) following last week’s allegations.
According to the regulator, ADA, SOL, and MATIC alongside other crypto tokens are securities. A week after the allegations, ADA is reeling in massive losses of approximately 25%, while SOL and MATIC are both down by roughly 29%.
The statements released by the foundations over the last few days have mainly inclined toward improving investor confidence with the founders declaring that they are ready to fight the allegations until the tokens are cleared.
Under No Circumstances Was ADA a Security – Cardano’s IOG
The IOG has explicitly stated that the allegations made by the SEC contain “numerous factual inaccuracies” and that they “will not impact IOG’s operations in any way.
“Under no circumstances

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