ETH Co-Founder Vitalik Buterin Breaks His Silence

As the Securities and Exchange Commission (SEC) hardens its stance on the cryptocurrency market, the debate between leading figures in the cryptocurrency industry is growing.

In a tweet shared today, Ethereum (ETH) co-founder Vitalik Buterin, who sits in the second seat, noted that MicroStrategy CEO Michael Saylor is a "complete clown". Michael Saylor, known for his hardline stance against Ethereum (ETH), specifically claimed that ETH is a security. According to the executive, securities laws are clear and unambiguous. You are not supposed to lie, cheat or deceive institutions.  Contrary to what many altcoin projects suggest, Saylor goes against the popular argument that securities laws are outdated. For this reason, Saylor says he views Ethereum as inherently unethical. In June, the CEO of MicroStrategy stated that the crises and lack of transparency in altcoin projects have really hurt Bitcoin and pushed the SEC to heavily regulate the cryptocurrency industry. The Ethereum community was quick to respond, reminding Saylor that he was charged with securities fraud by the Securities and Exchange Commission in 2000. At the time, Saylor paid a fine to settle with the regulator without admitting or denying the charges. Michael Saylor's company allegedly reported huge profits despite losing money, thus artificially increasing its value. Saylor lost a record-breaking $6 billion in a single day after this was exposed. SEC Chairman Gary Gensler has repeatedly stated that the majority of digital assets in circulation can be classified as unregistered securities. At the same time, Gensler recently declared that Bitcoin is a commodity. Michael Saylor has recorded heavy criticism against Ethereum in recent statements. According to Saylor, ETH could suffer from stability problems for three years. While Saylor targeted Ethereum, he stated that Bitcoin Cash was a terrible mistake. Saylor emphasized Ether and Bitcoin Cash, questioning whether both assets are economically, technically or ethically sound. Source: coin-turk The investment information, comments and recommendations contained in this article do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.