Crypto Twitter This Week: 6 Days That Changed the Industry Forever?
update: @JSeyff And I am increasing the probability of spot Ether ETF approval to 75% (up from 25%). I heard this afternoon that the SEC may do a 180 on this (an increasingly political issue). It will be rejected.) Take a look… https://t.co/gcxgYHz3om
— Eric Balchunas (@EricBalchunas) May 20, 2024
If you’re wondering why our odds were low until yesterday, see below. Yesterday was a shocking moment, even for those inside the process. i.e. props @JSeyff Thank you for convincing me to stick to the 25% floor (which is deafening because I wanted to go even lower… https://t.co/d9Xjt3nurN
— Eric Balchunas (@EricBalchunas) May 21, 2024
This week, today was a roller coaster unlike any day I’ve ever seen. ETH is effectively considered a commodity, as we have always known it. I’m proud to be on the team @CoinbaseWe are a trusted partner and custodian for many of the issuers who approved 19b-4 tonight. pic.twitter.com/nz1HHFbBSQ
– paulgrewal.eth (@iampaulgrewal) May 23, 2024
FIT21 passed House 279-136 🎉
House Democrats voted in favor of the bill: 71.
This sends a message to the Biden administration that a *huge* number of elected Democrats are currently voting “no confidence” in the SEC and that “anti-crypto” is a losing platform this year. pic.twitter.com/zmlD1VRQfF
— Jake Chervinsky (@jchervinsky) May 22, 2024
This FIT21 problem is driving us crazy.
There has never been a *regulated* spot commodity market before…we’re just handing this power over wholesale to the CFTC and hoping they’re not crazy fascists like Gary (but he was the head of the CFTC lol)
— _gabrielShapir0 (@lex_node) May 22, 2024
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