{"id":52861,"date":"2023-06-07T13:13:11","date_gmt":"2023-06-07T13:13:11","guid":{"rendered":"http:\/\/egrowonline.com\/?p=52861"},"modified":"2023-06-07T13:13:11","modified_gmt":"2023-06-07T13:13:11","slug":"jack-dorsey-courts-controversy-by-claiming-eth-is-a-security","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=52861","title":{"rendered":"Jack Dorsey courts controversy by claiming ETH is a security"},"content":{"rendered":"


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Long-time Bitcoin (BTC<\/a>) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with \u201cyes\u201d to a question asking if Ether (ETH<\/a>) was a security.<\/p>\n

The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a \u201cclown\u201d in a tweet on June 6.<\/p>\n

In response, Dorsey tweeted, \u201cETH is not a security? Teach me wizard,\u201d which prompted Wertheimer to share<\/a> a five-year-old video of the United States Securities Exchange Commission Chair Gary Gensler stating that ETH was now \u201csufficiently decentralized\u201d<\/a> and wasn\u2019t a security.<\/p>\n

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clowns. pic.twitter.com\/S8AiJwuMem<\/a><\/p>\n

\u2014 Udi Wertheimer (@udiWertheimer) June 6, 2023<\/a><\/p><\/blockquote>\n

However, Gabor Gurbacs, strategy adviser to stablecoin issuer Tether and investment management firm VanEck, weighed in on Wertheimer\u2019s comment, stating<\/a> that Ethereum\u2019s recent transition to proof-of-stake may have re-triggered securities laws.<\/p>\n

The online scuffle comes in light of the SEC filing lawsuits against cryptocurrency exchanges Binance<\/a> and Coinbase on<\/a> June 5 and 6 for allegedly offering tokens considered to be unregistered securities.<\/p>\n

Dorsey also tweeted and implied approval of a screenshot of a post by Coinbase CEO Brian Armstrong in 2015, where he referred to altcoins as a \u201cdistraction\u201d and that Coinbase should instead \u201cbe focused\u201d on Bitcoin.<\/p>\n

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https:\/\/t.co\/GEtVbHtk4L<\/a><\/p>\n

\u2014 jack (@jack) June 6, 2023<\/a><\/p><\/blockquote>\n

Dorsey continued on his pro-Bitcoin tweeting streak and retweeted a video<\/a> of Jack Mallers \u2014 CEO of Bitcoin Lightning application Strike \u2014 calling out Armstrong for choosing to prioritize altcoins over building on Bitcoin and the Lightning Network.<\/p>\n

Related: <\/em><\/strong>Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidency<\/em><\/strong><\/a><\/p>\n

When Dorsey was in charge of Twitter in 2021 the company sold 140<\/a> Ethereum-based nonfungible tokens (NFTs) but he rejected investing in Ether at the time.<\/p>\n

Dorsey also downplayed Ethereum\u2019s development in August 2021 when he claimed that Ethereum alone wouldn\u2019t be able to disrupt big tech<\/a>.<\/p>\n

Dorsey recently provided funding and became an advocate for Nostr<\/a>, a decentralized \u201cTwitter killer\u201d network that integrates Bitcoin Lightning-based payments on the \u201cDamus\u201d platform.<\/p>\n

Magazine:<\/em><\/strong> Crypto regulation \u2014 Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/a><\/p>\n<\/div>\n


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Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with \u201cyes\u201d to a question asking if Ether (ETH) was a security. The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a \u201cclown\u201d in […]<\/p>\n","protected":false},"author":1,"featured_media":52862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[4779,4374,885,2207,181,1059,1349],"class_list":["post-52861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-claiming","tag-controversy","tag-courts","tag-dorsey","tag-eth","tag-jack","tag-security"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/06\/5d53f38e-663b-4779-82dc-136c11cacd36.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52861"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52861\/revisions"}],"predecessor-version":[{"id":52863,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52861\/revisions\/52863"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/52862"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52861"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}