As KuCoin is accused of selling unregistered securites, Ethereum is one of them. Citron Research stressed that the security status of Ether bacame even more obvious as the network migrated to proof-of-stake consensus and replaced mining by staking.
Ethereum is changing hands at $1,401 by press time. Should Citron Research be right about its prospects, it would be on the eve of a 75% price plunge.As covered by U.Today previously, Citron Research is an adamant critic of cryptocurrencies: they slammed Ethereum in 2022 and compared it to collapsed exchange FTX. Also, it bashed Grayscale Bitcoin Trust , one of the most overhyped investment tools of the previous bull run.
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