The Ethereum co-founder Vitalik Buterin says he is ‘sorry’ for many crypto projects, as they have come under the blow of the U.S. Securities and Exchange Commission (SEC).
The one comment I’ll make is that I feel bad that @solana and other projects are getting hit in this way. They don’t deserve it, and if ethereum ends up “winning” through all other blockchains getting kicked off exchanges, that’s not an honorable way to win, and in the long term…
— vitalik.eth (@VitalikButerin) June 30, 2023
The regulator named the tokens Polygon (MATIC) and Solana (SOL), as well as a number of other coins, as securities in lawsuits against the crypto exchanges Binance and Coinbase. Representatives of the projects did not agree with the SEC’s definition.
«They don’t deserve this. If Ethereum ends up “winning” thanks to all other blockchains being pushed off exchanges, that’s not the most honorable way to win, and in the long run, it’s probably not a win at all» — wrote Buterin.
The developer stressed that the real competitor for Ethereum is not other networks, but a “rapidly expanding centralized world that imposes itself on us.”
He wished that “all worthy projects” would achieve a fair outcome in the current situation.
Against the backdrop of SEC lawsuits, the American institutional platform Bakkt announced the delisting of tokens ADA, MATIC and SOL due to “regulatory uncertainty”
According to a Reddit user, the fintech company Revolut told clients in an email that the same coins would be delisted in the United States from September 18.
Earlier, the Hong Kong-based blockchain-gaming operator Animoca Brands decided to focus on “more progressive jurisdictions” outside the United States, as the SEC labeled the SAND token an unregistered security.
Earlier, SEC Chair Gary Gensler stated that the crypto industry is rife with fraud and resembles the market of the 1920s before regulation.