Ethereum’s commodity status: insights from Consensys creator Joseph Lubin
Cryptopolitan (RSS)
During an interview with CNBC, Consensys creator Joseph Lubin recently shared his insights on Ethereum (ETH) and its classification. Lubin referred to previous statements from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to support his argument that Ethereum should be categorized as a commodity.
Notably, he pointed out SEC chairman Gary Gensler’s acknowledgment of Bitcoin as a commodity, while highlighting that Gensler has yet to accept Ether in the same manner formally.
The founder of Consensys says it's clear Ether is a commodity, not a security amid regulatory crackdown on crypto, as he unveils the first ever survey on perception over crypto and Web3.@ethereumjoseph @tanvirgill2 @willkoulouris #BTC #ETH #TRON #Web3 @Consensys pic.twitter.com/IBIsvdQRlW
— CNBC's Street Signs (@StreetSignsCNBC) June 28, 2023
Lubin drew attention to a lecture by former SEC official Bill Hinman in 2018, where he declared Ether not to be a security. He emphasized that 18 of Hinman’s colleagues collaborated on the speech, implying a consensus within the SEC at the time. Lubin indicated that while some regulators may still be deliberating on Ether’s status, he regarded their hesitancy as insignificant.
Moreover, Lubin delved into the advancements within the Bitcoin sector, emphasizing the importance of initiatives aimed at “cleaning up the CeFi rot.” Centralized finance, commonly called CeFi, has been criticized due to its deviation from the decentralized principles of cryptocurrencies. Lubin highlighted the successful innovations and launches in 2022, illustrating the positive trajectory of the Bitcoin ecosystem.
With the ongoing discussions surrounding Ethereum’s classification, Lubin’s insights shed light on the regulatory landscape and its impact on cryptocurrencies. While Gensler’s stance on Ether remains uncertain, Lubin’s reference to Hinman’s lecture suggests widespread agreement within the SEC regarding Ethereum’s non-security status. Lubin’s optimistic outlook on the future development of the Bitcoin sector indicates the positive outcomes achieved in 2022 as the industry strives to align with the decentralized ethos.
Joseph Lubin’s recent interview with CNBC addressed Ethereum’s classification as a commodity and shed light on the ongoing regulatory debates. Lubin’s remarks highlighted the significance of previous SEC statements and the need for a clear stance on Ether’s classification.
Furthermore, Lubin emphasized the positive advancements within the Bitcoin sector, showcasing the industry’s efforts to address concerns surrounding centralized finance. As the cryptocurrency landscape evolves, regulatory clarity and technological innovation remain critical focal points for industry participants and observers alike.
Cryptopolitan (RSS)
During an interview with CNBC, Consensys creator Joseph Lubin recently shared his insights on Ethereum (ETH) and its classification. Lubin referred to previous statements from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to support his argument that Ethereum should be categorized as a commodity.
Notably, he pointed out SEC chairman Gary Gensler’s acknowledgment of Bitcoin as a commodity, while highlighting that Gensler has yet to accept Ether in the same manner formally.
The founder of Consensys says it's clear Ether is a commodity, not a security amid regulatory crackdown on crypto, as he unveils the first ever survey on perception over crypto and Web3.@ethereumjoseph @tanvirgill2 @willkoulouris #BTC #ETH #TRON #Web3 @Consensys pic.twitter.com/IBIsvdQRlW
— CNBC's Street Signs (@StreetSignsCNBC) June 28, 2023
Lubin drew attention to a lecture by former SEC official Bill Hinman in 2018, where he declared Ether not to be a security. He emphasized that 18 of Hinman’s colleagues collaborated on the speech, implying a consensus within the SEC at the time. Lubin indicated that while some regulators may still be deliberating on Ether’s status, he regarded their hesitancy as insignificant.
Moreover, Lubin delved into the advancements within the Bitcoin sector, emphasizing the importance of initiatives aimed at “cleaning up the CeFi rot.” Centralized finance, commonly called CeFi, has been criticized due to its deviation from the decentralized principles of cryptocurrencies. Lubin highlighted the successful innovations and launches in 2022, illustrating the positive trajectory of the Bitcoin ecosystem.
With the ongoing discussions surrounding Ethereum’s classification, Lubin’s insights shed light on the regulatory landscape and its impact on cryptocurrencies. While Gensler’s stance on Ether remains uncertain, Lubin’s reference to Hinman’s lecture suggests widespread agreement within the SEC regarding Ethereum’s non-security status. Lubin’s optimistic outlook on the future development of the Bitcoin sector indicates the positive outcomes achieved in 2022 as the industry strives to align with the decentralized ethos.
Joseph Lubin’s recent interview with CNBC addressed Ethereum’s classification as a commodity and shed light on the ongoing regulatory debates. Lubin’s remarks highlighted the significance of previous SEC statements and the need for a clear stance on Ether’s classification.
Furthermore, Lubin emphasized the positive advancements within the Bitcoin sector, showcasing the industry’s efforts to address concerns surrounding centralized finance. As the cryptocurrency landscape evolves, regulatory clarity and technological innovation remain critical focal points for industry participants and observers alike.
Cryptopolitan
Consensys unveils new feature for metamask wallet users | Cryptopolitan
Blockchain firm Consensys has announced that it will unveil a new inter-blockchain feature that will be integrated into the Metamask wallet. The announcement
Top crypto tweets of the day – August 7th
Cryptopolitan (RSS)
Ethereum whale sends 2500eth to burn address after finding out his gf cheated on him
BREAKING – Ethereum Whale Sends 2500ETH To Burn Address After Finding Out His GF Cheated On Him pic.twitter.com/d2QJMRv0nv
— Au TistJeera (@autistjeera) August 7, 2023
A crypto investor who lost 800 ETH is asking for 90% of it back
This guy who lost 800 eth is asking for 90% of it back 😅 pic.twitter.com/lWwDQrFNsk
— borovik.eth (@3orovik) August 5, 2023
Curve Finance places a bounty on exploiter
The deadline for the CRV/ETH exploiter passeshttps://t.co/VphQ0bfYr2 pic.twitter.com/x8LP9Tx4rs
— Curve Finance (@CurveFinance) August 6, 2023
Paypal launches dollar-backed stablecoin
JUST IN: PayPal’s stablecoin $PYUSD is backed by US dollar deposits, short-term Treasury bills, and cash equivalents.
— Watcher.Guru (@WatcherGuru) August 7, 2023
Justin Sun asks Paypal to deploy PYUSD on Tron
I cordially invite PayPal to consider issuing PYUSD on #TRON, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital payment landscape. Let's collaborate for a thriving ecosystem! 🙏
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 7, 2023
US Rep issues statement on Paypal’s USD stablecoin
Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, issued a statement on PayPal USD: Stablecoins—if issued under a clear regulatory framework—hold promise as a pillar of our 21st century payments system. Congress is making significant,…
— Wu Blockchain (@WuBlockchain) August 7, 2023
NFTs worth $1.73 million were stolen in July
#PeckShieldAlert In July 2023, ~$1.73M worth of #NFTs were stolen, marking a 31% decrease compared to the previous month. Within a span of 165 minutes, half of the stolen NFTs were promptly sold on various marketplaces. The percentage of stolen NFTs initially sold on @blur_io… pic.twitter.com/cknsefpfwe
— PeckShieldAlert (@PeckShieldAlert) August 6, 2023
Coinbase net outflow of multi-chain assets (excluding Bitcoin) exceeded 1.616 billion US dollars
In the past 7 days, the net outflow of Coinbase multi-chain assets (excluding Bitcoin) exceeded 1.616 billion US dollars, of which the net outflow of Coinbase Custody reached 1.175 billion US dollars. The data suggests that Coinbase should be doing internal wallet transfers.…
— Wu Blockchain (@WuBlockchain) August 7, 2023
Coingecko opens a list of tokens listed as securitie...
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Cryptopolitan (RSS)
Ethereum whale sends 2500eth to burn address after finding out his gf cheated on him
BREAKING – Ethereum Whale Sends 2500ETH To Burn Address After Finding Out His GF Cheated On Him pic.twitter.com/d2QJMRv0nv
— Au TistJeera (@autistjeera) August 7, 2023
A crypto investor who lost 800 ETH is asking for 90% of it back
This guy who lost 800 eth is asking for 90% of it back 😅 pic.twitter.com/lWwDQrFNsk
— borovik.eth (@3orovik) August 5, 2023
Curve Finance places a bounty on exploiter
The deadline for the CRV/ETH exploiter passeshttps://t.co/VphQ0bfYr2 pic.twitter.com/x8LP9Tx4rs
— Curve Finance (@CurveFinance) August 6, 2023
Paypal launches dollar-backed stablecoin
JUST IN: PayPal’s stablecoin $PYUSD is backed by US dollar deposits, short-term Treasury bills, and cash equivalents.
— Watcher.Guru (@WatcherGuru) August 7, 2023
Justin Sun asks Paypal to deploy PYUSD on Tron
I cordially invite PayPal to consider issuing PYUSD on #TRON, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital payment landscape. Let's collaborate for a thriving ecosystem! 🙏
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 7, 2023
US Rep issues statement on Paypal’s USD stablecoin
Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, issued a statement on PayPal USD: Stablecoins—if issued under a clear regulatory framework—hold promise as a pillar of our 21st century payments system. Congress is making significant,…
— Wu Blockchain (@WuBlockchain) August 7, 2023
NFTs worth $1.73 million were stolen in July
#PeckShieldAlert In July 2023, ~$1.73M worth of #NFTs were stolen, marking a 31% decrease compared to the previous month. Within a span of 165 minutes, half of the stolen NFTs were promptly sold on various marketplaces. The percentage of stolen NFTs initially sold on @blur_io… pic.twitter.com/cknsefpfwe
— PeckShieldAlert (@PeckShieldAlert) August 6, 2023
Coinbase net outflow of multi-chain assets (excluding Bitcoin) exceeded 1.616 billion US dollars
In the past 7 days, the net outflow of Coinbase multi-chain assets (excluding Bitcoin) exceeded 1.616 billion US dollars, of which the net outflow of Coinbase Custody reached 1.175 billion US dollars. The data suggests that Coinbase should be doing internal wallet transfers.…
— Wu Blockchain (@WuBlockchain) August 7, 2023
Coingecko opens a list of tokens listed as securitie...
View original post
Twitter
BREAKING - Ethereum Whale Sends 2500ETH To Burn Address After Finding Out His GF Cheated On Him
🚨 New iOS Exploit "DarkSword" Drains $4.06 Million in Crypto
A security vulnerability named DarkSword is targeting iPhone users to steal crypto keys. The exploit occurs when a user clicks a malicious link within the Safari browser.
Reports indicate that $4.06 million has been drained from victims so far. The attack has specifically affected TRON and various other blockchain wallets.
Users are advised to be extremely cautious of Safari links to protect their digital assets. This exploit highlights the ongoing risks to mobile-based private keys and overall wallet security.
#CryptoSecurity #iOS #DarkSword #TRON
A security vulnerability named DarkSword is targeting iPhone users to steal crypto keys. The exploit occurs when a user clicks a malicious link within the Safari browser.
Reports indicate that $4.06 million has been drained from victims so far. The attack has specifically affected TRON and various other blockchain wallets.
Users are advised to be extremely cautious of Safari links to protect their digital assets. This exploit highlights the ongoing risks to mobile-based private keys and overall wallet security.
#CryptoSecurity #iOS #DarkSword #TRON