Bitcoin Price and Ethereum Prediction: US SEC Lawsuit, FTX Bankruptcy, and BitGo Updates Unveiled
Bitcoin and Ethereum, two of the leading cryptocurrencies, have been in the spotlight recently due to significant developments surrounding the US Securities and Exchange Commission (SEC) lawsuit, the bankruptcy of FTX exchange, and the acquisition deal involving BitGo.
These updates have brought new dynamics to the crypto market, impacting the price predictions for Bitcoin and Ethereum.
In this update, we delve into the latest information and provide insights into how these events may shape the future of these digital assets.
The cryptocurrency market has experienced a turbulent week due to lawsuits filed against major exchanges Binance and Coinbase by US securities authorities.
Lawmakers have criticized the enforcement actions taken by the US Securities and Exchange Commission (SEC) against cryptocurrency exchanges, describing them as a "complete contempt for Congress."
There has been scrutiny directed at SEC Chair Gary Gensler and the agency's approach to regulating the cryptocurrency industry.
Representative Ritchie Torres (D-NY), a member of the House Financial Services Committee overseeing the SEC, pointed out the evolving stance of Gensler, who has shifted from being a supporter to a critic of cryptocurrencies.
Torres suggested that Gensler's portrayal of crypto as a villain is a way to present himself as a political hero.
Additionally, Congressman French Hill (R-AR), who chairs the House subcommittee on digital assets, highlighted the need for a clear and unambiguous legislative structure in response to the activities of Coinbase, Binance, and the collapse of FTX.
Hill stated that if the proposed bill had been in place, the SEC might not have needed to take the actions it did.
Last week, Hill and other lawmakers
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