Reportedly the US Securities regulatory body started its investigation against Ethereum Foundation.
Ethereum is the biggest Cryptocurrency which is mainly known for its first mover step to introduce smart contract features for DApps. After Bitcoin, crypto Investors choose Ethereum as a most safe investment asset. In Sep 2022, the Ethereum network shifted to Proof-of-stake (PoS) consensus from Proof-of-work (Pow) consensus, to achieve more programming ability as well as fight against high network fee challenges.
Reportedly the United States Securities and Exchange Commission (SEC) started its investigation against Ethereum, to find financial relationships between Ethereum Foundation & companies dealing in ETH.
https://twitter.com/TechFarmVN/status/1770663854239813701?t=4ItQ978PAm4uelkZr4Semg&s=19
Some people speculated that the SEC body may target the Ethereum foundation & Ethereum co-founder Vitalik Buterin over the sale of ETH coins at an all-time high price.
Some Bitcoin maximalists took this news as an opportunity to call Ethereum a security token.
Cardano founder Charles Hoskinson shared his opinion on these reports & speculations and said that the alleged investigation against Ethereum is related to the nature of Ethereum in the current phase, as Ethereum is currently running on the Proof-of-stake (PoS) consensus.
https://twitter.com/IOHK_Charles/status/1770525626681704639?t=7dV1vNBK89U5Fv9XzQNevA&s=19
Coinbase chief legal officer Paul Grewal said that we all know very well that Ethereum is not a security token and also many times SEC officials call Ethereum a non-security token.
Many crypto traders claimed that the latest SEC’s action against the Ethereum Foundation may bring a very big negative wave for the Ethereum coin trade price, just like in the case of XRP in Dec 2020.
The current trade price of the Ethereum (ETH) coin is $3,489 & this trade price is 11% higher over the last 24 hours.
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