Sure, here's a simplified version:
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The SEC approved the Ethereum ETF but doesn't allow staking, showing they want to regulate staking projects. Their message is clear: if they don't allow staking, neither can you. All staking projects should expect regulation.
Meanwhile, the SEC won't sue CZ but will continue to sue Binance. It's clear that the SEC or Wall Street sees Binance, the largest exchange, as a major competitor. They believe that those who are different can't be trusted.
Under Wall Street's pressure, Binance will lose more market share. It won't take long—just one bull market could be enough.