SEC & Gary Gensler spanking the 💩 out of Ethereum right now for 'Proof of Stake'! 🤜💥🤕

In this video, we discuss the SEC's enforcement action against Kraken's "staking as a service" and what it means for crypto exchanges, as well as for proof-of-stake coins in general.

By moving to 'Proof of Stake' at the Merge, Ethereum may have inadvertently turned itself into an 'Unregistered Security'.

By contrast, Bitcoin is a Digital Commodity, not issued by a corporation, foundation, or government. Both the SEC and Gensler admitted it was a Commodity and not subject to these Crypto regulations. Oof! 🤡

Holders of 💩coins (Unregistered Securities) may not sleep well at night, knowing what's coming down the pike from the SEC.

As part of registration, Ethereum will need to disclose all material information related to the project's principals and their holdings, prospects, risks, etc. These disclosures could lead to a rush to the exits by investors once they see the huge amount of self-dealing and probably outright fraud as well.

SEC Coming For Crypto:
https://www.youtube.com/watch?v=_cAHFgabIeY&ab_channel=TraderUniversity

SEC shutting down Kraken's "staking as a service":
https://twitter.com/GaryGensler/status/1623777842000539648
and
https://www.sec.gov/news/press-release/2023-25

Brian Armstrong sad to be losing staking revenue stream:
https://twitter.com/brian_armstrong/status/1623459203150131201
and
https://decrypt.co/107662/ethereum-merge-coinbase-staking-jpmorgan

ETH may have shot itself in the foot:
https://www.youtube.com/watch?v=t0VRbQ2njxQ&ab_channel=TraderUniversity

The power of Ethereum devs:
https://decrypt.co/116763/ethereum-devs-staked-eth-withdrawals-shanghai-march-2023

Even Kraken cannot Unstake until Shanghai hard fork:
https://blog.kraken.com/post/17619/settlement/

What's So Bad About ETH Being A Security?
https://www.youtube.com/watch?v=UaVMRQSK8mc

Original Video by Crypto University: https://www.youtube.com/watch?v=5EbCHlkhHRI

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