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  • SEC Closes Ethereum 2.0 Investigation🇺🇸 - Issue #146

SEC Closes Ethereum 2.0 Investigation🇺🇸 - Issue #146

Issue #146: Web 3 News Headlines Of The Week📆

The SEC has concluded its investigation into Ethereum 2.0, affirming that ETH sales are not securities transactions.

In a significant development for the crypto community, Consensys Software Inc. announced that the U.S. Securities and Exchange Commission (SEC) has decided to close its investigation into Ethereum 2.0. 

This decision came after Consensys sent a letter to the SEC inquiring about the categorisation of Ether, following the approval of Spot Ether ETFs. The closure of the investigation was confirmed by the SEC’s enforcement division, which Consensys hailed as a major victory for the blockchain industry.

Initially launched in March 2023, the investigation aimed to scrutinise the transactions involving Ether. Consensys had earlier filed a lawsuit against the SEC, challenging the classification of Ether as a security. With the SEC’s decision not to pursue enforcement action, Consensys expressed optimism, emphasizing their ongoing legal efforts to ensure that products like MetaMask Swaps and Staking remain compliant with the SEC’s laws.

LayerZero $.10c Per $ZRO Claim Mechanism🪙

LayerZero's new "Proof-of-Donation" mechanism requires users to donate $0.10 per ZRO token claimed, generating significant funds for Ethereum's Protocol Guild.

LayerZero has introduced a unique method for claiming its ZRO token, requiring users to donate $0.10 in USDC, USDT, or ETH per ZRO claimed. This "Proof-of-Donation" mechanism aims to generate up to $18.5 million for Protocol Guild, a collective supporting Ethereum core researchers and developers. LayerZero’s foundation will match donations up to $10 million, underscoring their commitment to community and protocol health.

However, this approach has sparked mixed reactions within the crypto community. Critics argue that mandatory donations resemble an initial coin offering (ICO) and question the ethics of such a requirement. Despite this, LayerZero Labs' CEO, Bryan Pellegrino, defended the mechanism, highlighting that participation is optional and emphasizes long-term support for the protocol. 

ZachXBT’s $150k Win Over Martin Shkreli’s $DJT 💰

Crypto investigator ZachXBT earned a $150,000 bounty for revealing that Martin Shkreli is behind the DJT token, dispelling rumours of its connection to Donald Trump.

Crypto investigator, ZachXBT recently won a $150,000 bounty from blockchain analytics platform, Arkham for uncovering Martin Shkreli as the creator of the DJT token.

This revelation came after rumours suggested that the token was linked to former President Donald Trump, causing its price to surge dramatically. Shkreli, known for his past controversies, admitted to creating the token, which he falsely associated with Trump's campaign.

Shkreli's involvement stirred significant attention, especially after he challenged another trader with a hefty wager on the token's legitimacy. Despite Shkreli's claims of Trump’s involvement, there is no verified evidence to support this.

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Trumps $2bn $BTC Donation🍊

The Winklevoss twins donated $2 million worth of bitcoin to Donald Trump, endorsing him as the pro-crypto candidate for the upcoming election.

In a notable intersection of politics and cryptocurrency, the Winklevoss twins announced their donation of $2 million worth of bitcoin to former President Donald Trump.

Each twin donated $1 million in bitcoin, highlighting their support for Trump's pro-crypto stance. The twins criticized the current administration’s approach to cryptocurrency regulation, positioning Trump as the preferable candidate for the industry.

Their donations reflect a broader trend of crypto becoming a significant topic in political discourse. As Trump’s campaign starts accepting crypto contributions, support from influential figures like the Winklevoss twins could play a crucial role in shaping the future of crypto regulation in the United States.

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