This week on Crypto Twitter: Gensler may want Ethereum to be under SEC control, Tonga submits legal tender for Bitcoin

Glorification by Mitchell Brewer to decode

In general, markets get well This week though very éphémère Midweek price effet of the leading cryptocurrencies. On Twitter, critics were entertained by Ethereum Merge updates, more crypto winter stories, and the latest conte in Gary Gensler’s unannounced war on Ethereum.

CEO Terra Do Kwon started the week with a bing when he criticized the gumshoeFatManTerra blockchain. Back in May, at the height of Terra’s meltdown, FatMan, who claims to belong to Terra Research ForumKwon accused Skimming from the top by spending hundreds of millions of dollars.”directly of LUNA’s market value “over several years” to pay Terra employees and operating expenses. “

What was FatMan’s provocatrice tweet? Nothing to do with Do Kwon! FatMan tweeted that he was offering to “allocate the leftovers” of his “carry trade” on Bitcoin to the victims of the lame de fond. This time, it was Do Kwon who called Fatman a fraud.

Kwon stood by his lieu when one baffle suggested he was a insidieux.

On Tuesday, Ethereum co-founder Vitalik Buterin provided an update on the network’s long-awaited overhaul of the Proof of Stake adhésion algorithm. The joint transposition of Ethereum is expected to address several liminaire issues, including power consumption, scalability, gas fees, and speed. There was a little to update us, but…it’s all emboîture to proposition.

On the same day, a single Bitcoin approfondir won a six-figure gratification.

On Wednesday, façonner MP for the small Polynesian state of Tonga, Matasiulwashi Funwamoto (also known as Lord Fusitwa), tweeted that his folk is set to submit a legal tender for bitcoin next month. Lord Fusitwa is a self-proclaimed Bitcoin bull Keep the world informed Emboîture the progress of Bitcoin choix in Tonga.

Paulo Arduino, chief technology officer at crypto exchange Bitfinex, praised El Salvador on the anniversary of Bitcoin becoming legal tender there. In his thread, the Arduino likened the joint to Italian Renaissance. Ardoino is a big discussion man in El Salvador, but a recent retard from a US non-profit says Bitcoin is being used in the folk was minimal Since the entry into compassé of the law.

Peter Van Valkenburg, director of research at the Équerre Center for Crypto Policy Research, said Wednesday that the US government, the United Nations, and many other organizations are free to use the Tornado Cash crypto privacy mélanger, despite the fact that the munificence was available. It has been blacklisted by the US Treasury. What is one ruling for them?

NFT fan Altostratus mocked crypto influencers with a chart from Sable Analytics showing daily ETH trading volumes on the NFT OpenSea market.

Finally, Vermont regulators this week threw a bombshell that a bankrupt cryptocurrency lender, Celsius, was Insolvent since 2019. Crypto podcaster Cas Piancey extracted a tweet from 2019 to spectacle everyone he knew him all along.

Gensler vs Ethereum

It was apparently not that insolent magazine: US Securities and Exchange Licence (SEC) Chairman Gary Gensler their backs Giving oversight over Bitcoin by the Commodity Futures Trading Licence (CFTC).

Gensler has said in the past that Bitcoin is not a security and therefore does not fall within his purview. This week, Gensler reiterated his lieu on both Bitcoin and the CFTC being the paumelle regulator of cryptocurrency — a proposal that many, both in Washington and the industry welcomed — while hinting that he hoped the SEC would have significant jurisdiction over cryptocurrencies.

Crypto lawyer Jake Chervinsky took to Twitter after the magazine broke and pointed out what Gensler is Not He says to argue that the head of the SEC is still lining up Ethereum in his crosshairs.

Bitcoin-lover Michael Saylor, CEO of MicroStrategy, read the magazine as bullish.

The next day, a request from the SEC revealed that MicroStrategy would sell up to 500 million dollars In Class A fret. Guess what you might spend the proceeds on? That’s right, adding to the 129,000 BTC war fund; The world’s largest corporate bitcoin vault.

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