Michael Saylor, founder of MicroStrategy (NASDAQ: MSTR) and a prominent Bitcoin (BTC) advocate, recently stated that the Securities and Exchange Commission (SEC) is likely to classify major cryptocurrencies like Ethereum (ETH) as securities, not commodities. He anticipates that this classification will result in the denial of all spot Ethereum ETF applications this summer.
Saylor’s comments extended beyond Ethereum, predicting a similar future for other prominent cryptocurrencies such as Binance Coin (BNB), Solana (SOL), Ripple (XRP), and Cardano (ADA). This announcement was made during his speech at the MicroStrategy World 2024 conference on Thursday.
“Ethereum is deemed to be a crypto asset security, not a commodity. After that, you’re gonna see that Ethereum, BNB, Solana, Ripple, Cardano, everything down the stack is just crypto-asset securities unregistered”
Michael Saylor on BNB, SOL, and XRP ETFs
His remarks reflect a broader skepticism about the potential fo
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