However, Gabor Gurbacs, strategy adviser to stablecoin issuer Tether and investment management firm VanEck, weighed in on Wertheimer’s comment, stating that Ethereum’s recent transition to proof-of-stake may have re-triggered securities laws.The online scuffle comes in light of the SEC filing lawsuits against cryptocurrency exchanges Binance and Coinbase on June 5 and 6 for allegedly offering tokens considered to be unregistered securities.Dorsey also tweeted and implied approval of a screenshot of a post by Coinbase CEO Brian Armstrong in 2015, where he referred to altcoins as a “distraction” and that Coinbase should instead “be focused” on Bitcoin. https://t.co/GEtVbHtk4L— jack (@jack) June 6, 2023
Dorsey continued on his pro-Bitcoin tweeting streak and retweeted a video of Jack Mallers — CEO of Bitcoin Lightning application Strike — calling out Armstrong for choosing to prioritize altcoins over building on Bitcoin and the Lightning Network.Related: Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidencyWhen Dorsey was in charge of Twitter in 2021 the company sold 140 Ethereum-based nonfungible tokens (NFTs) but he rejected investing in Ether at the time.Dorsey also downplayed Ethereum’s development in August 2021 when he claimed that Ethereum alone wouldn’t be able to disrupt big tech.Dorsey recently provided funding and became an advocate for Nostr, a decentralized “Twitter killer” network that integrates Bitcoin Lightning-based payments on the “Damus” platform.Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?