📉 IMX Token Drops 12% After SEC Wells Notice 🚨

According to BlockBeats, the price of IMX fell by around 12% and is currently trading at $1.149 after receiving a Wells Notice from the U.S. SEC.

🔍 Background: Last month, Immutable, the creator of IMX, revealed that it received the notice, suggesting potential enforcement actions. The SEC also sent a letter to CEO James Ferguson and the Digital Worlds Foundation (which helped issue IMX), detailing alleged securities law violations.

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