BREAKING: Biggest Crypto Battle in 2024 is Done – What’s Next for Ethereum?

BREAKING: Biggest Crypto Battle in 2024 is Done – What’s Next for Ethereum?

breaking news for crypto today the SEC permanently suspends investigation into ethereum this is the sec’s letter declaring the war on ethereum is over let me share this with you but all this is happening as Bitcoin ranges in its sideways summer and we understand why I’m calling it sideways summer we had the winter of our despair we had some thawing and an incredible incredible two quarters with record inflows into each as of today 16 billion in net inflows really Blockbuster performance across the nine us Bitcoin ETFs I think what we’re seeing now is exactly what we saw in March we had a hawkish fomc last week CPI still coming in hot expectations of rate Cuts were being priced in volatility also really low trading volumes we traded 22 billion last week this week we’re looking at around 11 billion in trading volume so volatility is down Trading volumes are down I think there’s a lot of uncertainty and again the question we always look at at coin shares is where are these flows coming from well daily flows for the US Bitcoin ETFs have been negative for the last four consecutive days although us markets are closed today for a national holiday so this fourth one is understandable there’s actually been about $152 million in net outflows over these last 4 days Fidelity saw the largest outflows among the 11 ETFs with grayscales gbtc coming in second but again when volatility is low like this and as we range in sideways summer this letter this news which affects the entire crypto Market is massive just in the SEC suspends investigation into eth 2.0 ethereum is a commodity we won and what does the exact letter say this is from the division of enforcement at the US sec Dear Mr Schwarz which is one of the attorneys representing consensus I.E representing ethereum regarding the matter of ethereum 2.0 Dear Mr Schwarz we are in receipt of your letter dated June 7th 2024 we write to provide notice that we have concluded the investigation in the above referenced matter while we do not with this notice or otherwise agree with the factual statements or legal conclusions set forth in the June 4th letter based on information we have at this date we do not intend to recommend an enforcement action by the commission against your client consensus software with respect to this investigation so the SEC has dropped the case against ethereum it’s probably because this is an election year and while Joe Biden did appoint Gary Gensler as head of the SEC since Trump continues to be so Pro crypto I mean he’s still campaigning to get the crypto vote to further secure America’s future and create opportunity for young people I will end Joe Biden’s war on crypto we will ensure that the future of crypto and the future of Bitcoin will be made in America otherwise other countries are going to have it Biden probably tapped Gary Gensler on the shoulder whispered in his ear to ease up I mean a debate between these two gentlemen are coming and even though this is more indirect Biden probably will take credit for some of these wins either way something like this is insanely bullish for a the as a whole although the letter does end in a little bit of ambiguity we are providing this notice under the guidelines set out in the final paragraph of the Securities act release number 5310 which states in part that the notice must in no way be construed as indicating that the party has been exonerated or that no action May ultimately result from the staff’s investigation meaning in the future some action may result from the staff’s investigation so it’s a little confusing a little ambiguous again this investigation here today against ethereum is done so it’s bullish is that enough to claim ethereum is a commodity well that’s sort of what the investigation was about that that’s now ended and in a direct statement from consensus the main developer behind eth they’re the ones that are being sued ethereum survives the SEC today we’re happy to announce a major win for ethereum Developers technology providers and Industry participants the enforcement division of the SEC has notified us that it’s closing its investigation into ethereum 2.0 this means that the SEC will not bring charges alleging the sale of ethereum as Securities transactions meaning a big big big win but what could that last ambiguous part mean well number one legally maybe they just don’t want to speak in absolutes leaving the door a little open but two and this is my theory eth 2.0 is cleared but may be staking what does stake have to do with our Securities laws that’s St not St a I mean Kraken got sued for this over a year ago and Kraken is going to be forced now to end its crypto staking program in the US and pay a $3 million fine to settle charges from the SEC the agency said Kraken had failed to register the program where by investors earn a yield in return for locking up their tokens and allowing them to be used to facilitate tra transactions on the blockchain it’s the sec’s first Crackdown on staking but on the other hand ethereum 2.0 when they made the switch to proof of work to proof of stake that is staking that is ethereum 2.0 and now ethereum 2.0 is now cleared from the investigation so I hope this letter is now a clear distinction between C calized staking platforms and decentralized staking platforms by the way breaking news today involving Kraken Kraken says it’s being extorted following bug Bounty report so this bug resulted in at least $3 million worth of stolen funds but no user funds were endangered according to Kraken and the exchange is actually being extorted for it an anonymous self-proclaimed security researcher found a critical security buug and alerted the crypto exchange on June 9th however two accounts related to the security researcher have exploited the bug to withdraw over $3 million worth of digital assets and after they stole the money the security researcher is now demanding a reward for the stolen funds in a direct quote from one of the leadership at Kraken he says this is not white hat hacking this is extortion now good news this was only $3 million which is nothing for an exchange relatively speaking also the cryptocurrency was stolen directly from kraken’s treasury meaning the exchange claims no user funds were endangered I will keep you updated also many of you remember this news from a few weeks ago Bank War founder and defi Pioneer AOL Herzog just launched a revolutionary crypto platform for Round Table on the street I am a founding member we’re excited to join as co-founding partners and hosts alongside Scott mker marioa fall cryptos R Us and the platform includes a reward token for Publishers and users which can be found at Roundtable app well there’s $33,000 and rtb token up for grabs exclusively for you this is what I posted yesterday Austin altcoin Daily here many people are sleeping on ethereum but check this out I just posted this ethereum Supply squeeze is happening now eth on exchanges at lowest level since 2016 and this is before the spot e ETFs have begun trading is now a good time to buy ethereum so we have the supply shock happening on exchanges the demand shock for the ETFs is still upon us it’s still coming is this now a good time to buy wait dollar cost average I want you to leave a video comment down below and the top three answers are going to each get $1,000 let me let me confirm on this the top three comments are going to get 1K each and rtb given away by the round table Forum so uh give me your eth analysis and a reason why down below so go to the link below on Roundtable and leave a comment with your response and Roundtable will tip give the best three video replies $1,000 in rtb each to show you how the Tipping feature works on honestly most people probably won’t even download the app so if you do and if you leave a thoughtful video response I think you got a good shot also ticket prices are about to increase again for Bitcoin Nashville conference so use code altcoin daily for 10% off your ticket link down below

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TimeStamps:
00:00 Intro
00:12 Why Has Bitcoin Price Stalled?
01:40 SEC Suspends Investigation Against Ethereum
03:30 Is Ethereum Completely Safe Now?
06:03 Crypto Exchange Kraken Extorted by Hackers
07:12 Win $3,000 in RTB Token

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