SEC vs Crypto News Just Went From Bad to Worse! (I Was Wrong I’m Sorry!)

I was wrong I was very wrong things just Got worse for ethereum new information Has just come to light I can't believe That this is happening this to my Knowledge is the first time the ethereum Foundation has gotten an inquiry like This from a state agency if you're an Ethereum investor you need to see this Ethereum is in trouble right now not Only ethereum but several other members Of the ethereum ecosystem have been Reached out to by government agencies Associated with the SEC according to Fortune in connection with a broader Investigation into whether ethereum is a Security which obviously has been a long Simmering question these May ETF Approvals look very dim if ethereum is a Security obviously that will have some Bearing on whether there is an e ETF Approval and one imagines that the Timing of these inquiries if not Explicitly related to trying to put a Halt on these approvals is tied to them Wanting to kind of use the pending Approvals as a kind of like doorway into Doing this broader investigation that it Seems like they're they're currently Doing things just got worse for ethereum Please watch this whole video before you Comment let me catch you up it has now Been discovered it has now been brought To light that the ethereum foundation is Under investigation by state authorities

Ethereum is under investigation by the Government this would be the first time We've seen something like this that is Rare now initially the scope of the Government's investigation and its focus Was unknown when this story first broke Out all that was known was something on Ethereum's public GitHub a commit from February 26th saying we have received a Voluntary inquiry from a state Authority That included a requirement for Confidentiality the ethereum foundation Said no more than this and all we could Do was speculate who's looking into Ethereum what do they want what's going To happen now this is a developing story Make sure you subscribe because we're Going to keep you updated what we know Now is now that other journalistic Organizations have started digging into This the SEC is seeking to classify Ethereum as a security post haste a move That would have major implications for Ethereum an eth ETF and cryptocurrency As a whole moreover the the financial Regulator I.E the SEC has sent Investigative subpoenas to us companies In the past several weeks the SEC is Hitting up us companies asking them for Information on their dealings with the Ethereum foundation please if you know Somebody who holds ethereum get this Information to them it's amazing to me That we are now discovering that the

Ethereum foundation themselves have been Leaving us clues that this has been Happening since February 26 6 through Something known as a warrant Canary a Warrant Canary is usually some form of Text or visual warning like a colorful Bird in the case of the ethereum Foundation which some companies include On their website to indicate that They've never been served with a secret Government subpoena or document request If a government agency does request this Information the company May remove the Text suggesting they've received the Request without explicitly saying so This is exactly what's been happening With ethereum there's these things Called warrant canaries that crypto Protocols and other companies will put On their websites that say hey we Haven't been reached out to by a Government agency the idea being that When that thing is not on their website Meaning they took it off the website we As members of the public know that hey Even though they can't say if they Remove it it means they happen Resh so Previously the ethereum foundation had On their website the following Disclosure the eth foundation has never Been contacted by any agency anywhere in The world in a way which requires that Contact not to be disclosed the eth Foundation will publicly disclose any

Sort of inquiry from government agencies That falls outside the scope of regular Business operations as of February 26th This has been removed so let's say that Ethereum is deemed to be a security Let's say the worst happens what would That mean for you what would that mean For me as ethereum holders what would That mean for the ethereum industry and Ecosystem at large let's say ether is Deemed a security here in the United States what does that mean for folks who Hold ether and what does that mean for Crypto firms that allow people to Purchase ether yeah of course um this is An investment advice um and also we Don't know what's going to happen we Just know that there's you know this Inquiry and um this larger investigation So we don't know what's going to happen But if we're to speculate that there is An attempt to deem ethereum or ether Rather a security which again would have To work its way through its courts and Still be a long way off we're very early That would um I one imagines um be a Negative thing at least for the ethereum Ecosystem because at the very least it Would inject you know some sort of Uncertainty with regards to how the Token can be traded through what venues And how other platforms could you know Um prop themselves up on on The Wider Network so it would absolutely be

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Security then the cftc listed Futures Contracts on which the ETFs were based Would be illegal as any derivative on Ethereum would be considered security Futures contracts and subject to Different rules listed on different Exchanges and subject to Joint SEC cftc Jurisdiction moreover if ethereum were a Security then the eth Futures ETF would Be an illegal instrument the SEC cannot Approve an illegal instrument to trade Over a national Securities Exchange it Will be interesting to watch what if any Excuse the SEC uses if it were to delay Or deny an ethereum ETF given it has Already informed the market on ethereum Being outside of its jurisdiction the Sec's conduct in refusing to acknowledge These facts is causing confusion and Actively harming the public look guys What's going to happen with ethereum This cycle is a big unknown it's so Common for Elites and financial Regulators to create fud like this and Then buy when it's low but we just don't Know make sure you subscribe we're going To have more information on this for you Tomorrow and if you're interested in Having a laugh in the meantime if you're La local come out for the roast of Altcoin daily get your tickets now There's a two for one deal going on link In the description see you tomorrow

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