Ethereum Investigation Dropped By SEC & Why Germany Is Selling Bitcoin

Join Matt and Nick as they discuss the SEC closing its investigation into the initial sales of ETH; Germany selling its large Bitcoin holdings; altcoin updates; and more.

Key Takeaways 

• Prices have continued falling amid market conditions with very few new buyers. These types of pullbacks are consistent with all past crypto bull markets, and we still expect prices to be much higher by year-end.
• Consensys said the SEC "would not bring charges alleging that sales of ETH are securities transactions." A significant concession by the SEC, potentially reflecting a shift in positioning towards crypto.
• The German government has been selling some of its BTC holdings. It still owns slightly less than 47,000 BTC (≈$2.9B). If the sales continue, it may drive BTC’s price lower in the short term. Long term, these sales are meaningless.
• Among the altcoin updates covered: LayerZero’s controversial token launch, Lens’ migration to ZKsync, and Jupiter’s proposed token supply decrease.