[Weekly News] the 4th week of Apr.
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Let’s find out about the hottest Bitcoin and cryptocurrency news for the 4th week of April!
Former SEC Chairman Jay Clayton: “Whether Ethereum is classified as a security, it depends.”
In a recent interview with CNBC, former US Securities and Exchange Commission (SEC) Chairman Jay Clayton said, “Ethereum (ETH) can be likened to tickets to a Broadway show. It could be considered a security for early investors investing in the production of a show with the promise of a return on ticket sales. However, when a performance becomes a box office success, and tickets are sold at the box office, it is just a ticket, not security,” reported UToday.
Willy Woo “Swiss Private Banking Group, first in July. Cryptocurrency fund launch.”
Willy Woo said, “In July, Syz, a Swiss private banking group that manages $23 billion in assets, is launching its first cryptocurrency fund. Syz is famous for being the first institution to give Swiss high-net-worth individuals access to Wall Street hedge funds, which had more than 25% yields at the time. Now they see the same opportunity in the cryptocurrency industry. I am delighted to be collaborating with Syz.”
Brian Armstrong Calls on US Congress to Intervene in Cryptocurrency Regulations
Coinbase CEO Brian Armstrong said, “I met with the Securities and Exchange Commission (SEC) today. We will try to come up with a clear cryptocurrency regulation plan. The United States must not be left behind in this important technology for updating the financial system. Enforcement should not take place until clear rules are in place. I think Congress will have to intervene at this point,” he tweeted.
Trust Wallet extension users were exposed to wallet creator risk in November last year.
“If you use the Trust Wallet browser extension and create a wallet between November 14 and 23, 2022, that wallet is at risk,” said Cos (余弦), founder of SlowMist, a blockchain security company. This is because the MT19937 random number generator used by the Trust Wallet browser extension at the time did not provide enough randomness, which could decrypt the private key.” Trust Wallet has issued a related vulnerability notice, which has now been resolved. However, some users have suffered damages of $170,000 due to this issue, and Trust Wallet promised to compensate them.
Dogecoin Foundation Board Member “DOGE, Bitcoin Fork Coin… not securities.”
According to Utoday, Marshall Hayner, CEO of the cryptocurrency payment solution Metal Pay and a member of the board of directors of the Dogecoin (DOGE) Foundation, said in a recent interview, “DOGE is a coin created as a fork of Bitcoin. So, if Bitcoin cannot be classified as a security, then Dogecoin is not a security either.” He continued, “Securities are financial assets that can expect future profits, and there is a centralized entity behind them. When Dogecoin first appeared, people dismissed it as just a joke or a “meme,” and there was no centralized governing body. Also, Dogecoin creators Jackson Palmer and Billy Marcus did not use the project to amass their wealth. As a result, thanks to what started as a ‘meme,’ Dogecoin had a unique decentralized structure.”
Foreign media “More than 30% of videos related to TikTok cryptocurrency investment, including unverified content.”
Cointelegraph, a media specializing in cryptocurrency, reported on the 22nd that “more than 30% of the videos related to cryptocurrency investment uploaded to the global short-form video platform TikTok contain misleading content.” Media related to this said, “Currently, videos containing cryptocurrency-related hashtags on the TikTok platform have accumulated more than 6 billion views. However, some influencers share unverified and false information about cryptocurrency investment, which may result in an investment loss. A recent analysis of more than 1,161 cryptocurrency-related TikTok videos by Dappgamble found that 1/3 conveyed misinformation, and only 1/10 warned about the risks of investing in cryptocurrencies. In addition, 47% of the uploaded videos were content creators promoted their services in exchange for advertising fees.”
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