Upland: Berlin is here!

Ethereum (ETH) co-founder Vitalik Buterin has expressed concern about the regulatory pressures competing cryptocurrency projects, including Solana (SOL), have recently faced. Tweet.

Buterin noted that these projects do not deserve such treatment, adding that this is not an honorable way for Ethereum to “win” if other blockchain networks are kicked out of exchanges. he added:

“…in the long run, [this] Probably not even a victory. This is especially true as the real competition is not other chains but the rapidly expanding centralized world that is being imposed on us while we speak. ”

Buterin released the statement in response to a question about his opinion on the US policy approach to cryptocurrencies.

Crypto Industry Faces US Regulatory Pressure

Recent actions by U.S. financial regulators, including the Securities and Exchange Commission (SEC), suggest the country is adopting an anti-crypto stance on emerging industries.

Over the past month, the SEC has accused major cryptocurrency exchanges such as Binance and Coinbase for violating federal securities laws.

Additionally, regulators have classified over 10 digital assets as securities, including SOL, ADA, MATIC, SAND, ALGO, MANA, and others, in lawsuits against these companies.

Meanwhile, several other crypto insiders have previously criticized this approach to the crypto industry, including Coinbase and Binance CEO Changpeng, “CZ” Zhao, and billionaire investor Mark Cuban. rice field.

The government’s approach affects the industry.

Following the SEC’s classification of certain digital assets as securities, tokens such as SOL, MATIC, and ADA saw their values ​​drop significantly as several major crypto platforms were delisted.

However, data shared by Julio Moreno, head of research at CryptoQuant, suggests a possible “resurrection” of these affected assets.

Moreno It pointed out Indexes tracking performance are up 22% since June 14, while indexes tracking Bitcoin and Ethereum are up 16%.

but, of crypto slate TradingView Screener, Which Tracks Assets Listed in SEC Lawsuits, Shows Only Solana Shows Positive Year-to-Date Returns Denominated in BTC YTD, Other Companies Fall More Than 20% Against Bitcoin It highlights what you are experiencing.

cipher screener
Source: TradingView

By Jules

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