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Those 9 biggest institutions of Asset Management are updated their applications for #Bitcoin Spot #ETFs today...
- Fidelity
- ARK21Shares
- BlackRock
- VanEck
- WisdomTree
- Invesco/Galaxy
- Bitwise
- FranklinTempleton
- Valkyrie
Today is the #SEC's deadline for the first wave of approvals for Bitcoin ETFs.
The deadline means that on Dec. 29, the community will likely find out which spot #Bitcoin ETF filers out of 14 applicants could be in the first wave of potential spot $BTC ETF approvals, which is largely expected in early in January 2024.
Stay Tuned for #ETF's News..🙏
Those 9 biggest institutions of Asset Management are updated their applications for #Bitcoin Spot #ETFs today...
- Fidelity
- ARK21Shares
- BlackRock
- VanEck
- WisdomTree
- Invesco/Galaxy
- Bitwise
- FranklinTempleton
- Valkyrie
Today is the #SEC's deadline for the first wave of approvals for Bitcoin ETFs.
The deadline means that on Dec. 29, the community will likely find out which spot #Bitcoin ETF filers out of 14 applicants could be in the first wave of potential spot $BTC ETF approvals, which is largely expected in early in January 2024.
Stay Tuned for #ETF's News..🙏
#Write2Earn SEC v. Ripple: Crucial Request Filed by Defendants
Ripple Labs has filed for a deadline extension for remedies-related discovery in the SEC lawsuit
Contents
Strapped for time
The SEC's legal win
In the latest development of the SEC's lawsuit against Ripple Labs, the blockchain company has officially requested a brief, one-week extension for the deadline for remedies-related discovery, according to a document filed with the United States District Court for the Southern District of New York.
Ripple's counsel submitted the letter on Feb. 6, seeking to move the deadline from Feb. 12 to Feb. 20, 2024.
Strapped for time
The extension request is said to be in response to the #SEC's request for post-complaint contracts and financial statements from 2022 and 2023, which Ripple intends to fulfill.
In the formal letter to Judge Analisa Torres, #Ripple's legal team argued that "absent a brief extension of the current deadline, Ripple would have just one week in which to produce responses to discovery requests that seek a large volume of documents and cover the entire post-complaint period."
The request for extension is notable as it comes with the SEC's consent.
A short extension of eight days will give Ripple sufficient time to collect and produce the requested documents," Ripple's counsel added.
The SEC's legal win
Before Ripple's request for more time, the SEC celebrated a legal triumph with Magistrate Judge Sarah Netburn's decision to compel Ripple to provide the requested discovery.
This decision overrules Ripple's procedural objections and requires the company to provide detailed financial statements for the years 2022 and 2023 as well as contracts and information concerning the proceeds from institutional $XRP sales post-complaint.#TrendingTopic #TradeNTell
Ripple Labs has filed for a deadline extension for remedies-related discovery in the SEC lawsuit
Contents
Strapped for time
The SEC's legal win
In the latest development of the SEC's lawsuit against Ripple Labs, the blockchain company has officially requested a brief, one-week extension for the deadline for remedies-related discovery, according to a document filed with the United States District Court for the Southern District of New York.
Ripple's counsel submitted the letter on Feb. 6, seeking to move the deadline from Feb. 12 to Feb. 20, 2024.
Strapped for time
The extension request is said to be in response to the #SEC's request for post-complaint contracts and financial statements from 2022 and 2023, which Ripple intends to fulfill.
In the formal letter to Judge Analisa Torres, #Ripple's legal team argued that "absent a brief extension of the current deadline, Ripple would have just one week in which to produce responses to discovery requests that seek a large volume of documents and cover the entire post-complaint period."
The request for extension is notable as it comes with the SEC's consent.
A short extension of eight days will give Ripple sufficient time to collect and produce the requested documents," Ripple's counsel added.
The SEC's legal win
Before Ripple's request for more time, the SEC celebrated a legal triumph with Magistrate Judge Sarah Netburn's decision to compel Ripple to provide the requested discovery.
This decision overrules Ripple's procedural objections and requires the company to provide detailed financial statements for the years 2022 and 2023 as well as contracts and information concerning the proceeds from institutional $XRP sales post-complaint.#TrendingTopic #TradeNTell
Wall Street is knocking; please open the door.
Although #cryptocurrency prides itself on being a pretty exclusive club, allowing traditional finance to join could hasten adoption.
In the same way that the #SEC's actions against the exchanges #Binance and #Coinbase threw a shadow over the cryptocurrency business, #BlackRock's news that it will apply for a bitcoin ETF gave investors hope for the closely watched sector.
The establishment of a new digital asset marketplace called EDX Markets was announced last week by Charles Schwab and Citadel, following in the footsteps of the largest asset manager in the world, Fidelity. Together, these disclosures were sufficient to cause a spike in the price of bitcoin, which reached a new high for June as a result of the market's response to institutional adoption.
Although #cryptocurrency prides itself on being a pretty exclusive club, allowing traditional finance to join could hasten adoption.
In the same way that the #SEC's actions against the exchanges #Binance and #Coinbase threw a shadow over the cryptocurrency business, #BlackRock's news that it will apply for a bitcoin ETF gave investors hope for the closely watched sector.
The establishment of a new digital asset marketplace called EDX Markets was announced last week by Charles Schwab and Citadel, following in the footsteps of the largest asset manager in the world, Fidelity. Together, these disclosures were sufficient to cause a spike in the price of bitcoin, which reached a new high for June as a result of the market's response to institutional adoption.
Breaking: SafeMoon price crashes 30% after SEC charges its team with committing fraud
SafeMoon price took a dive after the SEC charged the token and its founder, CEO and CTO with fraud.The US government announced that while the CEO and CTO have been arrested, the founder remains at large.The US Attorney's Office also claimed that the team misappropriated millions of dollars of investors' funds for their own use.
SafeMoon, a Defi cryptocurrency, along with its creator Kyle Nagy as well as the CEO John Karony, and CTO Thomas Smith, have been charged by the Securities and Exchange Commission (SEC) for "perpetrating a massive fraudulent scheme through the unregistered sale of the crypto asset security".
SafeMoon team charged by SEC
The SEC, in the press release, stated,
"[SafeMoon] promised to take the price of the token "Safely to the moon," but instead of delivering profits, they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.
The regulator alleged that through wash trading, the CEO created the impression of market activity by buying and selling the token on a trading platform.
This was preceded by fraudulently manipulating the value of the token by pumping it into the market back in April 2021 after users learned that SafeMoon's liquidity pool was not locked as claimed, which led to cryptocurrency's price plummeting by 50% from a market capitalization of $5.7 billion.
SafeMoon price witnessed a 30% crash at the time of writing following the release of the news to trade at $0.0001350.
SafeMoon team under arrest
The CEO of SafeMoon, Karony, along with the CTO, Smith, had been arrested by the US government at the time of writing. The US Attorney's Office charged the team with misappropriating millions of dollars of investors' funds for their own use. This included the purchase of luxury vehicles and real estate in New Hampshire, Utah, and Florida.
Additionally, the CTO sent 2,900 Binance Coin (BNB) worth more than approximately $860,000 in order to purchase a custom Porsche 911 sportscar along with some NFTs. Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations, New York, following the arrest, stated,
"As alleged, SafeMoon's executives grew their company value to over $8 billion, but instead of rewarding their clients as promised, their insatiable greed led them to spend millions of dollars on their own lavish desires. HSI New York will relentlessly pursue individuals who seek to exploit investors and the American financial system for their own gain.
#SEC's #SEC #universalcryptoworld #SFM #Scam
SafeMoon, a Defi cryptocurrency, along with its creator Kyle Nagy as well as the CEO John Karony, and CTO Thomas Smith, have been charged by the Securities and Exchange Commission (SEC) for "perpetrating a massive fraudulent scheme through the unregistered sale of the crypto asset security".
SafeMoon team charged by SEC
The SEC, in the press release, stated,
"[SafeMoon] promised to take the price of the token "Safely to the moon," but instead of delivering profits, they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.
The regulator alleged that through wash trading, the CEO created the impression of market activity by buying and selling the token on a trading platform.
This was preceded by fraudulently manipulating the value of the token by pumping it into the market back in April 2021 after users learned that SafeMoon's liquidity pool was not locked as claimed, which led to cryptocurrency's price plummeting by 50% from a market capitalization of $5.7 billion.
SafeMoon price witnessed a 30% crash at the time of writing following the release of the news to trade at $0.0001350.
SafeMoon team under arrest
The CEO of SafeMoon, Karony, along with the CTO, Smith, had been arrested by the US government at the time of writing. The US Attorney's Office charged the team with misappropriating millions of dollars of investors' funds for their own use. This included the purchase of luxury vehicles and real estate in New Hampshire, Utah, and Florida.
Additionally, the CTO sent 2,900 Binance Coin (BNB) worth more than approximately $860,000 in order to purchase a custom Porsche 911 sportscar along with some NFTs. Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations, New York, following the arrest, stated,
"As alleged, SafeMoon's executives grew their company value to over $8 billion, but instead of rewarding their clients as promised, their insatiable greed led them to spend millions of dollars on their own lavish desires. HSI New York will relentlessly pursue individuals who seek to exploit investors and the American financial system for their own gain.
#SEC's #SEC #universalcryptoworld #SFM #Scam
#Altcoin bloodbath as exchanges reshape landscape
BTC/USD hit $25,483 on the day, according to data, down more than $1,200 from the day's high.
Despite exhibiting weakness, Bitcoin avoided the fate of other altcoins that reacted negatively to delisting that came along with U.S. legal action against significant exchanges.
The trading app #Robinhood declared that it would stop supporting a number of the cryptocurrencies mentioned in the #SEC's lawsuit against #Binance and #Coinbase.
BTC/USD hit $25,483 on the day, according to data, down more than $1,200 from the day's high.
Despite exhibiting weakness, Bitcoin avoided the fate of other altcoins that reacted negatively to delisting that came along with U.S. legal action against significant exchanges.
The trading app #Robinhood declared that it would stop supporting a number of the cryptocurrencies mentioned in the #SEC's lawsuit against #Binance and #Coinbase.
👉👉👉 #RBI Chief: Crypto Threatens Rupee Stability, Urges Investors to Be Cautious
The head of India's central bank, Shaktikanta Das, issued stern warnings about the significant risks associated with cryptocurrencies, particularly for emerging market economies, during the World Economic Forum in Davos. Das emphasized the lack of underlying value in #cryptocurrencies , stating that while they are not currencies, they have the potential to become part of the payment system, posing risks to financial stability, currency stability, and the monetary system.
Commenting on the U.S. Securities and Exchange Commission's approval of spot bitcoin exchange-traded funds (ETFs), Das expressed caution, noting that while some may see it as a cryptocurrency party, there are substantial risks involved. He highlighted the U.S. #SEC's responsibility for their nation's well-being, drawing a distinction from India's perspective.
Das, a longstanding critic of bitcoin and cryptocurrencies, reiterated concerns about volatility, money laundering, and terror financing risks inherent in these assets. He recalled the cryptocurrency crash from a few years ago and stressed the need for careful consideration, stating that celebrating new developments in the crypto space without acknowledging the associated risks could be shortsighted.
In January of the previous year, Das had strongly recommended a complete ban on cryptocurrencies in India, expressing concerns about their potential impact on the economy and the authority of the Reserve Bank. He argued that allowing cryptocurrencies would undermine the central bank's control over the money supply and could lead to the dollarization of the economy.
Source - news.bitcoin.com
#CryptoNews #BinanceSquare
The head of India's central bank, Shaktikanta Das, issued stern warnings about the significant risks associated with cryptocurrencies, particularly for emerging market economies, during the World Economic Forum in Davos. Das emphasized the lack of underlying value in #cryptocurrencies , stating that while they are not currencies, they have the potential to become part of the payment system, posing risks to financial stability, currency stability, and the monetary system.
Commenting on the U.S. Securities and Exchange Commission's approval of spot bitcoin exchange-traded funds (ETFs), Das expressed caution, noting that while some may see it as a cryptocurrency party, there are substantial risks involved. He highlighted the U.S. #SEC's responsibility for their nation's well-being, drawing a distinction from India's perspective.
Das, a longstanding critic of bitcoin and cryptocurrencies, reiterated concerns about volatility, money laundering, and terror financing risks inherent in these assets. He recalled the cryptocurrency crash from a few years ago and stressed the need for careful consideration, stating that celebrating new developments in the crypto space without acknowledging the associated risks could be shortsighted.
In January of the previous year, Das had strongly recommended a complete ban on cryptocurrencies in India, expressing concerns about their potential impact on the economy and the authority of the Reserve Bank. He argued that allowing cryptocurrencies would undermine the central bank's control over the money supply and could lead to the dollarization of the economy.
Source - news.bitcoin.com
#CryptoNews #BinanceSquare
PayPal seems to be watched closely by government regulators
People tell PayPal got a request from a government agency called the SEC to share some documents related to their PYUSD digital money. PayPal introduced PYUSD in August, and they were the first big traditional financial company to make their own digital currency. They said it would have new uses and help them compete better.
Heard the company mentioned in their report that they received this request from the SEC. It looks like they didn't say exactly what kind of documents the SEC wants, but they are working with the SEC to give them what they need.
Some people think the SEC is being very strict about digital currencies in recent times, and this request is part of that. Others believe it's just to make sure PayPal follows the rules.
#PayPal #PYUSD #SEC's #CryptoNews🔒📰🚫
People tell PayPal got a request from a government agency called the SEC to share some documents related to their PYUSD digital money. PayPal introduced PYUSD in August, and they were the first big traditional financial company to make their own digital currency. They said it would have new uses and help them compete better.
Heard the company mentioned in their report that they received this request from the SEC. It looks like they didn't say exactly what kind of documents the SEC wants, but they are working with the SEC to give them what they need.
Some people think the SEC is being very strict about digital currencies in recent times, and this request is part of that. Others believe it's just to make sure PayPal follows the rules.
#PayPal #PYUSD #SEC's #CryptoNews🔒📰🚫
With a total of 1,073,047 SHIB tokens burned in two transactions over the course of the last 24 hours, the amount burned was noticeably less. The SHIB burn rate, meanwhile, is showing a 281% increase. The market's recent calmness following the #SEC's filing of litigation against the two largest exchanges, Coinbase and Binance, may have contributed to the decline in #SHIB burns. Some cryptocurrencies, including #ADA, #SOL, and #MATIC, were claimed to be securities in the complaint.
🚨 𝐀 𝐓𝐖𝐄𝐄𝐓 𝐅𝐎𝐑
𝐄𝐕𝐄𝐑𝐘 𝐂𝐑𝐘𝐏𝐓𝐎 𝐈𝐍𝐕𝐄𝐒𝐓𝐎𝐑 🚨
Are you on the lookout for the perfect timing to dive into the cryptocurrency sphere?
Here's a rundown of major FUDs (Fear, Uncertainty, Doubt) since November 2022:
➜ November 2022: FTX insolvency scare
➜ December 2022: Allegations of a #Binance妇女节 bank crisis
➜ January 2023: #GENESIS facing financial troubles
➜ February 2023: Reports of a crypto bank collapse
➜ March 2023: #USDC facing depegging rumors
➜ April 2023: Rumors of #USGovernment selling BTC holdings
➜ May 2023: Speculations about Binance's financial health
➜ June 2023: #SEC's intensified crackdown on cryptocurrencies
➜ July 2023: Concerns over Tether depegging
➜ August 2023: SpaceX's alleged BTC sell-off
➜ September 2023: US government's partial shutdown and FTX's billion-dollar liquidation
➜ October 2023: Binance executives resignations and legal challenges
➜ November 2023: Distribution of BTC from Mt. Gox
➜ December 2023: Possible delay of ETF approval
➜ January 2024: Grayscale's selling pressure on Bitcoin
➜ February 2024: Genesis offloading GBTC holdings
➜ March 2024: Speculations about Bitcoin reaching its peak
Interestingly, despite these FUD events, Bitcoin surged from $15500 to $74,000, showcasing a remarkable 365% growth.
The takeaway?
There's no perfect moment to enter the crypto market. Instead, consider dollar-cost averaging (DCA) and seize buying opportunities during FUD periods.
Sell when the market is gripped by FOMO (Fear of Missing Out).
If you found this insightful, give it a thumbs up and share it with your crypto peers who might be waiting for the ideal timing to join the fray.
Thankyou for your support
𝐄𝐕𝐄𝐑𝐘 𝐂𝐑𝐘𝐏𝐓𝐎 𝐈𝐍𝐕𝐄𝐒𝐓𝐎𝐑 🚨
Are you on the lookout for the perfect timing to dive into the cryptocurrency sphere?
Here's a rundown of major FUDs (Fear, Uncertainty, Doubt) since November 2022:
➜ November 2022: FTX insolvency scare
➜ December 2022: Allegations of a #Binance妇女节 bank crisis
➜ January 2023: #GENESIS facing financial troubles
➜ February 2023: Reports of a crypto bank collapse
➜ March 2023: #USDC facing depegging rumors
➜ April 2023: Rumors of #USGovernment selling BTC holdings
➜ May 2023: Speculations about Binance's financial health
➜ June 2023: #SEC's intensified crackdown on cryptocurrencies
➜ July 2023: Concerns over Tether depegging
➜ August 2023: SpaceX's alleged BTC sell-off
➜ September 2023: US government's partial shutdown and FTX's billion-dollar liquidation
➜ October 2023: Binance executives resignations and legal challenges
➜ November 2023: Distribution of BTC from Mt. Gox
➜ December 2023: Possible delay of ETF approval
➜ January 2024: Grayscale's selling pressure on Bitcoin
➜ February 2024: Genesis offloading GBTC holdings
➜ March 2024: Speculations about Bitcoin reaching its peak
Interestingly, despite these FUD events, Bitcoin surged from $15500 to $74,000, showcasing a remarkable 365% growth.
The takeaway?
There's no perfect moment to enter the crypto market. Instead, consider dollar-cost averaging (DCA) and seize buying opportunities during FUD periods.
Sell when the market is gripped by FOMO (Fear of Missing Out).
If you found this insightful, give it a thumbs up and share it with your crypto peers who might be waiting for the ideal timing to join the fray.
Thankyou for your support
After experiencing severe sell pressure brought on by the #SEC's charges, Cardano's ADA is beginning to show signs of recovery. #Cardano, which had been one of the worst performances among the top ten tokens in reaction to #regulatory scrutiny, has seen a stunning rise in price over the past week, igniting #investor excitement for a potential summer bull run.
We are happy to share our bi-weekly DailyCoin Regular on Cardano, written by our expert Insha Zia, to give you insights into these fascinating developments.
We are happy to share our bi-weekly DailyCoin Regular on Cardano, written by our expert Insha Zia, to give you insights into these fascinating developments.
🚨 BREAKING NEWS: #SEC's Statement on #BlackRock's #BTC ETF slated for January 10th! 📰
#CryptoNews #ETF
#CryptoNews #ETF
Regarding the papers known as the Hinman Emails, Ripple Labs and the US Securities and Exchange Commission (SEC) appear to be in agreement: Past comments made by the former official shouldn't dictate present policies.
Although William Hinman, the former head of the #SEC's corporation finance division, received a lot of attention this week for his insider discussions that led to the creation of a five-year-old speech, there were never any formal #commission-approved rules or guidelines regarding the status of #ether (ETH) at the time of the agency's earlier uncertainty. The discussion surrounding the former official's remark may therefore provide some new information, but it is unlikely to have an impact on the agency's #crypto policy.
Although William Hinman, the former head of the #SEC's corporation finance division, received a lot of attention this week for his insider discussions that led to the creation of a five-year-old speech, there were never any formal #commission-approved rules or guidelines regarding the status of #ether (ETH) at the time of the agency's earlier uncertainty. The discussion surrounding the former official's remark may therefore provide some new information, but it is unlikely to have an impact on the agency's #crypto policy.
🔍 #BlackRock | #ArkInvest and Wisdom Tree have updated their #BitcoinETFs proposals to comply with the #SEC's cash-only model.
A pivotal point has been reached in the #Ripple-SEC legal dispute.
Uncertainty has been bred by swirling rumours and contradictory assertions.
The #SEC's actions have been contested by #Ripple's chief legal officer.
The resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) is eagerly anticipated by #cryptocurrency aficionados. Rumours and negative predictions are rampant as the conclusion draws near, which makes it difficult to determine the SEC's leadership position.
Uncertainty has been bred by swirling rumours and contradictory assertions.
The #SEC's actions have been contested by #Ripple's chief legal officer.
The resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) is eagerly anticipated by #cryptocurrency aficionados. Rumours and negative predictions are rampant as the conclusion draws near, which makes it difficult to determine the SEC's leadership position.
Pro-XRP Lawyer John Deaton Criticizes SEC’s Actions 💢
John Deaton's statements raise important concerns about the #SEC's approach to crypto regulation and its potential impact on the industry's growth and fairness.
He believes that the SEC's actions may prioritize the interests of larger financial institutions over individual investors, leading to a perceived double standard.
The allocation of limited resources and focus on certain cases could hinder innovation and hinder the development of the cryptocurrency industry. Additionally, Deaton highlights the SEC's opposition to retail investors participating in the Ripple case, further solidifying the perception of bias towards established entities.
These issues highlight the need for a balanced and effective regulatory framework for digital assets.
#Binance
#crypto2023
John Deaton's statements raise important concerns about the #SEC's approach to crypto regulation and its potential impact on the industry's growth and fairness.
He believes that the SEC's actions may prioritize the interests of larger financial institutions over individual investors, leading to a perceived double standard.
The allocation of limited resources and focus on certain cases could hinder innovation and hinder the development of the cryptocurrency industry. Additionally, Deaton highlights the SEC's opposition to retail investors participating in the Ripple case, further solidifying the perception of bias towards established entities.
These issues highlight the need for a balanced and effective regulatory framework for digital assets.
#Binance
#crypto2023
Why does the #SEC want an interlocutory appeal in the #XRP lawsuit? What's at stake?
#_MarkFagel , a former official at the US Securities and Exchange Commission, revealed. Recently on the main reason why the SEC is seeking permission to certify the interlocutory appeal in the ongoing lawsuit between #Ripple and the SEC. This revelation comes after Binance's recent motion to deny its appeal from the SEC. Pointing to the Ripple ruling as a pivotal legal precedent. Fagle reveals the #SEC's wide-ranging plan behind the appeal and his extensive knowledge of securities issues. Fagle emphasized that the SEC appeal was a strategic move to counter the effects of the Ripple ruling on its broader enforcement program. He stated that the SEC could have circumvented the ruling if it concerned only issuers of assets and tokens related to securities.
Follow us to see more news and details 🚀😍🙏⬇️
#_MarkFagel , a former official at the US Securities and Exchange Commission, revealed. Recently on the main reason why the SEC is seeking permission to certify the interlocutory appeal in the ongoing lawsuit between #Ripple and the SEC. This revelation comes after Binance's recent motion to deny its appeal from the SEC. Pointing to the Ripple ruling as a pivotal legal precedent. Fagle reveals the #SEC's wide-ranging plan behind the appeal and his extensive knowledge of securities issues. Fagle emphasized that the SEC appeal was a strategic move to counter the effects of the Ripple ruling on its broader enforcement program. He stated that the SEC could have circumvented the ruling if it concerned only issuers of assets and tokens related to securities.
Follow us to see more news and details 🚀😍🙏⬇️
#Binance claims a conflict of interest and makes bogus accusations against the SEC.
In the ongoing legal dispute, Binance aims to limit the #SEC's ability to make public pronouncements.
Both the #cryptocurrency exchange and the larger crypto market have been significantly impacted by the ongoing legal dispute between Binance[BNB] and the U.S. Securities and Exchange Commission (SEC). The SEC accused Binance of listing unregistered #securities and offerings, among other things.
Binance, together with its legal counsel, vigorously refuted these allegations and added that SEC Chairman Gary Gensler was involved in a conflict of interest. Additionally, according to Binance, #Gensler had asked the exchange for an informal advising position before taking over as SEC chair.
In the ongoing legal dispute, Binance aims to limit the #SEC's ability to make public pronouncements.
Both the #cryptocurrency exchange and the larger crypto market have been significantly impacted by the ongoing legal dispute between Binance[BNB] and the U.S. Securities and Exchange Commission (SEC). The SEC accused Binance of listing unregistered #securities and offerings, among other things.
Binance, together with its legal counsel, vigorously refuted these allegations and added that SEC Chairman Gary Gensler was involved in a conflict of interest. Additionally, according to Binance, #Gensler had asked the exchange for an informal advising position before taking over as SEC chair.
In response to legal issues, the Solana community explores a potential hard fork.
The hard fork idea has caused strife in the neighbourhood.
Future plans for #Solana are clouded by SEC enforcement actions and #FTX's insolvency.
As Solana's blockchain experiences issues on all fronts, the community is debating taking severe action. A hard fork might theoretically free Solana from legal issues and its FTX ties, but it would split the blockchain and its community.
The Solana #community was in disarray following the #SEC's designation of Solana as a #security and the Foundation's lacklustre response. Many people in the community are searching for a magic solution to resolve Solana's problems as the token's price falls.
The hard fork idea has caused strife in the neighbourhood.
Future plans for #Solana are clouded by SEC enforcement actions and #FTX's insolvency.
As Solana's blockchain experiences issues on all fronts, the community is debating taking severe action. A hard fork might theoretically free Solana from legal issues and its FTX ties, but it would split the blockchain and its community.
The Solana #community was in disarray following the #SEC's designation of Solana as a #security and the Foundation's lacklustre response. Many people in the community are searching for a magic solution to resolve Solana's problems as the token's price falls.