“We don't need more digital currencies,” said Gary Gensler on CNBC. Is this why the SEC is targeting both Binance and Coinbase, which have hundreds of millions of crypto investors? In any case, the heads of these exchanges declare that they will respond to the SEC's attacks.
What surprises does the crypto market hold for us? While it is impossible to answer this question with certainty, analysts cannot resist making predictions and speculations. Michaël van de Poppe is one of those experts who taps into his knowledge to examine possible scenarios and shares his conclusions with his numerous followers. His latest prediction suggests a potential upward trend for two cryptocurrencies: Litecoin (LTC) and Ether (ETH).
We know that Bitcoin (BTC) reacts in the long term to profitability levels. That is to say, if the production cost is too high compared to the price of Bitcoin, it would not be sustainable. Therefore, studying the supply is crucial as it explains the behavior and, hopefully, the future of the cryptocurrency market.
Last Tuesday, the SEC, through its chairman, Gary Gensler, filed legal proceedings against the crypto platform Coinbase. The case could see its first twist as Coinbase claims to have evidence of potential bad faith on Gary Gensler's part in this matter.
Gary Gensler faced the press to explain the serious accusations brought by the SEC against the exchanges Coinbase and Binance.
The SEC has been on a witch hunt against crypto firms for several weeks now. It staunchly defends its position to clean up the American crypto industry and promote its growth. However, many players in this industry do not see the regulator's actions in the same light.
In a recent series of tweets, long-time Bitcoin (BTC) advocate and Twitter founder Jack Dorsey ignited a heated controversy. According to him, Ethereum (ETH) is a security. This statement quickly prompted passionate reactions from crypto experts, exposing the ongoing debates surrounding the classification of ETH and existing regulations.
SEC-inspired memecoins are experiencing a significant surge in value following the legal actions taken against exchanges Binance and Coinbase. Tokens like Good Gensler (GENSLR) and Fuck Gary Gensler (FKGARY) have seen a price explosion, capturing the attention of investors eager for quick gains.
The European banking sector may witness new laws in the coming days. EU policymakers, who have never hidden their desire to regulate this sector, particularly banks' access to cryptocurrencies, are taking a giant leap and could see their dream become a reality soon. Governments across the European Union are now all in favor of strict restrictions on bank capital, a decision that could directly impact two prominent cryptos.
The conversational AI, ChatGPT, is an unprecedented technological revolution. Since its launch, this artificial intelligence has been setting one record after another. The crypto sector is not immune to this momentum.