- Schiff's statement on Bitcoin
- SEC signals that Ethereum is not a security
- Shiba Inu (SHIB) suffering from 'tremendous' FUD
Over the past day, significant events have occurred in the crypto world. Here are the top stories:
Schiff's statement on Bitcoin
MicroStrategy cofounder Michael Saylor recently gave a keynote speech at the H.C. Wainwright Annual Global Investment Conference where he spoke about his transformation from a Bitcoin skeptic to a fervent supporter. However, his speech drew criticism from longtime Bitcoin critic Peter Schiff. In a post on the X platform, Schiff accused Saylor of misleading his audience with false promises about Bitcoin. Schiff asserts that Bitcoin's journey ultimately leads to significant losses: "In truth, the Bitcoin journey is not quite as he describes. It begins with a sucker and ends with heavy losses," Schiff wrote. He also challenged Saylor to a debate.
SEC signals that Ethereum is not a security
In its settlement with the eToro crypto trading platform, the SEC indicated that it views Ethereum as a nonsecurity. As part of the settlement, eToro will cease trading for nearly all cryptocurrencies except for Ethereum, Bitcoin and Bitcoin Cash, and will pay a $1.5 million fine for regulatory violations. Previously, the SEC alleged that eToro operated as a broker, clearing agency, custodian, and securities depository. According to the SEC's press release, eToro neither admitted nor denied the allegations but simply agreed to the settlement. Legal expert Drew Hinkes notes that private settlement orders are not precedential, meaning that Ethereum's security status remains unclear. Meanwhile, SEC Chair Gary Gensler has repeatedly refused to comment on Ethereum's security status.
Shiba Inu (SHIB) suffering from 'tremendous' FUD
According to a recent report from analytics platform Santiment, Shiba Inu is facing significant fear, uncertainty, and doubt (FUD). The report highlights that the percentage of SHIB supply held by wallets with less than one billion tokens is at its lowest since November 2022, suggesting centralization among large holders. Additionally, SHIB has seen a sharp decline in social media interest, reflecting a loss of retail investors, and is struggling with lower trading volumes compared to other meme coins and even Litecoin. Despite these challenges, Santiment suggests that SHIB may improve its performance if Bitcoin experiences a rally. Currently, SHIB's long-term returns are at nearly -32%, which is why it has been labeled as 'a worse-performing Dogecoin.'
The world of cryptocurrencies continues to be a field for active discussions and disputes. Stay tuned for further developments and keep up with the latest news.
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