Litecoin price surges 11% after CFTC calls Litecoin a commodity alongside Bitcoin and Ethereum
Litecoin rose nearly 11% in 24 hours, second only to WIF. The most important non-technical event that caused Litecoin’s surge was a recent statement from the U.S. Commodity Futures Trading Commission (CFTC). In a lawsuit against cryptocurrency exchange KuCoin, the CFTC declared Litecoin a commodity. The announcement is crucial because it places Litecoin outside the jurisdiction of the U.S. Securities and Exchange Commission (SEC), which regulates securities and imposes stricter liability on token issuers.
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A Yemeni government army officer stated that on Thursday, the strategic location of Mocha, a Red Sea port city in the southwestern Taiz governorate, was captured by Houthi forces. On the same day, the Yemeni Houthi group claimed that Saudi Arabia launched 64 airstrikes on various locations in Yemen within 24 hours; they asserted that navigation in the Red Sea is "not under threat" and described their military actions as defensive. Shipping industry sources noted that the capture of Mocha allows the Houthis to further advance south and "almost completely control" the Bab-el-Mandeb Strait, warning that the loss of Mocha "will undoubtedly impact maritime security in the region."
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