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Ethereum Foundation subpoenae threatens ETH ETF approval odds

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As Ethereum (ETH) price joins cryptocurrency markets in reacting to Wednesday’s Federal Open Market Committee (FOMC) meeting, the network is digesting new discoveries that the Ethereum Foundation has been subpoenaed for the first time in its history.

Ethereum Foundation has been subpoenaed, with records tracing back to network’s PoW to PoS transition in September 2022. SEC is reportedly pursuing an “energetic legal campaign” to classify Ethereum as a security. ETH ETF approval, expected in May, could suffer by association.

The SEC has been in an untenable position for some time with its position on ETH. This is imo either an attempt to maintain its ambiguity for just a bit longer or… https://t.co/6vCWOFpkQN — Scott Johnsson March 20, 2024 The Ethereum Foundation did not immediately respond to our request for comment. Meanwhile, seeing as the Ethereum price has underperformed despite the Dencun upgrade, speculation has it that insiders could be privy to information.

 

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