The world of crypto never slows down, and the latest news offers a mix of blockchain milestones, regulatory showdowns, and legal consequences. Ethereum (ETH-USD) co-founder Vitalik Buterin praised Celo for an impressive achievement in stablecoin activity, while SEC Chair Gary Gensler found himself under fire for his aggressive approach toward crypto regulation. Meanwhile, Caroline Ellison, former CEO of Alameda Research, has been handed a two-year sentence for her role in the FTX collapse. Let’s dive into the details.
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Buterin Applauds Celo’s Stablecoin Milestone
Vitalik Buterin, the co-founder of Ethereum, is keeping an eye on the Celo blockchain and recently praised its impressive growth. On September 25, Buterin took to X (formerly Twitter) to celebrate Celo for surpassing Tron in daily active addresses for stablecoins. He remarked, “It’s great to see Celo getting traction,” explaining how its developments are helping improve global access to payments. This milestone also comes as Celo prepares to shift from a standalone blockchain to an Ethereum layer 2 protocol, a development that could further boost its network capabilities. According to Cointelegraph, Celo is already running two testnets, with more advancements on the way.
Gensler Under Fire for Crypto Stance
In U.S. political news, SEC Chair Gary Gensler faced harsh criticism during a congressional hearing on September 24. Representative Tom Emmer didn’t hold back, calling Gensler “the most destructive” SEC chair in history. According to Reuters, Emmer grilled Gensler for making up the term “crypto asset security,” accusing him of using it to unfairly target the crypto industry. Emmer even went as far as saying Gensler’s actions have set the country back in terms of regulatory clarity.
Ellison Gets Two Years for FTX Role
In the fallout of the FTX collapse, Caroline Ellison, former CEO of Alameda Research, has been sentenced to two years in a minimum-security prison. According to CoinDesk, Judge Lewis Kaplan handed down the sentence on September 24, along with a hefty $11 billion forfeiture. Despite her involvement, her sentence was reduced due to her “extraordinary cooperation” in the prosecution of former FTX CEO Sam Bankman-Fried, which may have helped seal Bankman-Fried’s fate.
What Is Bitcoin’s Price Right Now?
At the time of writing, Bitcoin is sitting at $63,705.92.
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