Ripple's CTO David Schwartz has broken his silence, challenging claims that Ethereum is security and questioning very foundation of cryptocurrency regulationsHe emphasized that by approving the ETF, the U.S. SEC has officially confirmed that Ethereum is not classified as a security. The Coinbase head noted the exchange's role as the primary custodian for eight of the nine newly approved
However, this announcement sparked a contentious debate among some crypto community members. Some argued that ETH, following its network Merge upgrade, should be considered a security due to its staking model and the artificial inflation of its value. In this case, Ripple's Chief Technology Officer David Schwartz engaged in this debate, questioning the premise of Ethereum's classification as a security.