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Schiff: 's trip ends with big losses
MicroStrategy co-founder Michael Saylor has recently taken to the X platform to share his keynote speech at the HC Wainwright Annual Global Investment Conference, in which he spoke about his transformation from Bitcoin skeptic to a fervent supporter of the flagship cryptocurrency. The speech resonated with many BTC enthusiasts, but not with Peter Schiff, a long-time Bitcoin critic. In response to Saylor’s post on X, Schiff accused the MicroStrategy co-founder of misleading his audience with false promises about Bitcoin; the gold bug claims that Saylor’s description of the “Bitcoin journey” ultimately leads to substantial losses. “In truth, the Bitcoin journey is not exactly as he describes it. It starts with a fool and ends with huge losses,” Schiff wrote. He has also challenged Saylor to a debate. “Once again, Saylor mentions me, but he will not debate me,” he commented.
The SEC says it is not a security
In its settlement with cryptocurrency trading platform eToro, the SEC has indicated that it considers Ethereum to be an invalid security. As part of the settlement, eToro will stop trading in almost all cryptocurrencies except Ethereum, Bitcoin, and , and pay a $1.5 million fine for regulatory violations. Previously, the agency alleged that eToro operated as a broker and clearing agency, as well as a securities custodian and depository. As stated in the SEC’s press release, the exchange platform has neither admitted nor denied the allegations, but has simply agreed to the settlement. According to legal expert Drew Hinkes, the private settlement orders are not unprecedented, meaning that Ethereum’s security status remains unclear. Meanwhile, SEC Chairman Gary Gensler has repeatedly declined to comment on Ethereum’s security status.
(SHIB) suffering from “tremendous” FUD
According to a recent report from analytics platform Santiment, Shiba Inu is facing significant fear, uncertainty, and doubt (FUD). The report highlights that the percentage of SHIB’s supply held by wallets with less than 1 billion tokens is at its lowest level since November 2022, suggesting centralization among large holders. Additionally, SHIB has seen a sharp decline in interest on social media, reflecting a loss of retail investors, and is struggling with lower trading volumes compared to other meme coins, and even . Despite these challenges, Santiment suggests that SHIB can improve its performance if Bitcoin experiences a rally. Currently, SHIB’s long-term returns are at almost -32%, which is why it has been labeled as “one of the worst performers.”
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