The price of Ethereum was reeling this week after predictions that the merge would be a “buy the rumor, sell the news” scenario largely played out.
Over on Crypto Twitter, people continued to discuss the network this week after U.S. Securities and Exchange Commission (SEC) Chief Gary Gensler redoubled his offensive against crypto, also aimed at Ethereum.
It’s becoming increasingly evident that Gensler views Ethereum as a security. And on Monday, when the agency filed a federal lawsuit against crypto influencer Ian Balina, it put out an even more extreme view: that the U.S. government has jurisdiction over all Ethereum transactions, according to the SEC’s logic, because most of the network’s validator nodes are clustered in the U.S.
There it is
The supermassive black hole sized bad take at the heart of the Balina filing
h/t @LordBogdanoff https://t.co/ZopOGQchU4 pic.twitter.com/ucn5sZkK5b
— laurence (new york variant) (@functi0nZer0) September 19, 2022
Crypto Twitter went ape. And we...
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