Toby from Crypto Tips posted a 5 minute YouTube video today giving 2 reasons he thinks the US SEC dropped its ETH investigation.
Before he got into that, Toby talked about historical Bitcoin price performance in June of a US Presidential election year. With only 3 past data points he says Bitcoin goes UP in these situations. Bitcoin started June at 67.67K and is now 65.11K so maybe this price rise will not happen a 4th time? We have a few weeks to see if BTC does go up this June.
Then Toby talked about residential mortgage securities being in a half trillion dollar loss currently. He thinks people are buying Bitcoin because the conventional financial system is so messed up.
Finally Toby talks about the SEC and Ethereum. He reads a tweet from Cointelegraph reporting that investment firm Pantera Capital Management is interested in purchasing up to $100 Million of shares in an Ethereum ETF.
Then Toby read a notice that the SEC permanently suspended its investigation into Ethereum. And they said sales of Ethereum are not securities transactions. [I will add: Many people on X and YouTube are saying that this could also apply to #pulsechain because it is a full state fork (exact copy) of Ethereum.]
Toby said the SEC dropped the investigation because (reason 1) the chief of the SEC crypto division just resigned. Toby thinks the biggest reason (reason 2) the SEC backed off is because Blackrock decided to apply for a Spot Ethereum ETF.
[My thought: Some say that Blackrock gets into things like these cryptos to manipulate and control them. For me, I am happy that HIVE is a niche crypto that doesn't seem to grow very much each year, so it should remain independent and decentralized, and will stay off the big players' radar.]
My Activity
today was moving around the office. At night I took my walk. The weather was nice and clear. The beautiful Full Moon was up there, shining bright!
Have a nice day! 😃👍
This report was published via Actifit app (Android | iOS). Check out the original version here on actifit.io
