🚨🚨Ether Tumbles 6% as ETH ETF Hopes Dim Amid Regulatory Probe Reports‼️‼️
Ether $ETH tumbled as much as 6% Wednesday as hopes dimmed for regulatory approval of a spot-based exchange-traded fund #EthereumETF in the U.S.
The second-largest crypto asset by market capitalization sank to $3,200. Bitcoin $BTC the largest, dropped to around $62,000 after bouncing to near $64,000 earlier. The broad-market #CoinDesk 20 Index (CD20) fell 3%.
Ether's slide occurred after CoinDesk reported that network development organization #Ethereum(ETH) Foundation was under investigation by a "state authority." Shortly after, Fortune reported that the U.S. Securities and Exchange Commission (SEC) is waging a campaign to classify the Ethereum blockchain's native token as a security and started probing after Ethereum moved to a proof-of-stake network....
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