FLOKI, a rival to DOGE and SHIB, issues a crucial warning amidst increasing SEC pressure on the cryptocurrency industry. Robinhood received a Wells Notice from the SEC in May, raising concerns. However, JP Morgan analysts suggest that the notice won't necessarily block the approval of Ethereum ETFs. They anticipate the SEC might categorize Ethereum differently, neither as a security nor a commodity, but in an 'intermediate' category. While the notice didn't explicitly classify Ethereum, analysts believe its status will likely be determined by legislation and court decisions, potentially leading to a new regulatory category for Ethereum.#buythedip #CryptoWatchMay2024 #altcoins #BTC #Memecoins