SEC Sues MetaMask Creator; Bear Market Could End as Bitcoin Sentiment Drops; 14-Year-Old Bitcoin Wallet Reawakens
Summary:
The U.S. SEC has initiated a lawsuit against Consensys, the firm behind MetaMask, for allegedly operating as an unregistered broker and selling unauthorized securities. Meanwhile, analytics firm Santiment suggests that the recent drop in optimistic Bitcoin sentiments across social platforms may indicate an approaching end to the bear market. Positioning within the crypto industry has also begun as the impending presidential debate between Joe Biden and Donald Trump approaches. Notably, a dormant Bitcoin wallet from the Satoshi era has recently become active after 14 years.
The U.S. Securities and Exchange Commission (SEC) has initiated legal proceedings against Consensys, the creators of MetaMask, alleging the violation of securities laws. Concurrently, Santiment's data indicates a potential uptick in Bitcoin prices, and the first presidential debate between Joe Biden and Donald Trump is the subject of crypto sector discussions. Also catching attention is a 14-year-old Bitcoin wallet which has recently become active once again.
The SEC accuses Consensys of operating as an unregistered broker and claims the firm has unlawfully sold unauthorized securities using its MetaMask platform. The regulatory body suggests that Consensys, without obtaining necessary approvals, has amassed over $250 million in brokerage fees through MetaMask. As a result, the SEC is seeking a permanent injunction, civil penalties, and other sanctions against the software company for its alleged infractions.
The ongoing bearish phase in the market appears to have caused a decrease in the number of optimistic Bitcoin comments across social platforms, according to data gathered by Santiment. This downward trend in bullish Bitcoin sentiment across platforms such as Reddit, Telegram, BitcoinTalk, and others, may signal the approaching end of the bearish market.
The first presidential debate between incumbent Joe Biden and ex-president Donald Trump on June 27 has spurred anticipation within the crypto industry, despite the nominations for each party not being officially confirmed. Trump, who previously disapproved of digital assets, is now perceived as the pro-Bitcoin contender. Biden has a history of taking anti-crypto actions, although the Democrat sentiment seems to be shifting.
In other developments, a Bitcoin wallet that originated from the Satoshi era in 2010 has resurfaced after 14 years of inactivity with a transaction of 50 Bitcoin on the Binance exchange. The data from Lookonchain shows that the Bitcoin was a mining reward from July 2010, when the digital asset was roughly a year old and valued at approximately $0.05. It’s a significant event for the Bitcoin community due to the currently high Bitcoin network hashrates making it rare for a single block to be mined.
Published At
6/28/2024 11:54:08 PM
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