Consensys has initiated a lawsuit against the SEC in Texas, aiming to protect Ethereum and its network from what it describes as an unlawful power grab by SEC Chair Gensler. The litigation is portrayed as a defense of the entire Ethereum ecosystem, including developers and intermediaries, against excessive interference in their software development activities. This legal action follows years of secretive SEC investigations into the company. Key figures in the crypto community, including Consensys founder Joseph Lubin, have criticized the SEC's stance that Ethereum's staking model transforms it from a commodity into a security, calling such claims 'preposterous.' They emphasize that Ethereum is recognized as a commodity, and the lawsuit supports the principles of fair notice, due process, and the rule of law.
Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit https://t.co/bpIKEoVP5R
Thank you to @BlockchainAssn & @JohnEDeaton1 for submitting amicus briefs in support of @Coinbase's motion to certify interlocutory appeal. It is somewhat surprising that no Senator, Congressman or issuer of any of the tokens in the case stepped up in this critical moment. https://t.co/HvAB7Qd3oV
🇺🇸 JOHN DEATON SUPPORTS COINBASE IN SEC LAWSUIT John Deaton has actively supported Coinbase in its ongoing legal battle with the SEC by filing an amicus brief. Deaton argues that the SEC's approach is not genuinely protective of small investors but serves broader political… https://t.co/KAZJyYykBH
A Republican lawyer and crypto defender who hopes to be @SenWarren's opponent in the Massachusetts Senate race, @JohnEDeaton1, has filed a supporting brief in a @coinbase clash against the @SECGov. https://t.co/t5iB4miB0U
Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit https://t.co/ppvzkQKGZi
Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit | Fox Business https://t.co/ODyA1oBvkr
Our disputes with the @SECGov are about much more than just @coinbase. They are about about an entire industry and the 52 million Americans that own crypto. Thank you to @JohnEDeaton1 (+4,701 Coinbase customers) and @BlockchainAssn for their amicus briefs in support of…
The SEC has far too long run amok with impunity as they wage this unholy war against crypto funded by unwitting US taxpayers I'm throwing the full weight of my support behind Consensys, and urging my audience to do the same https://t.co/qsFphBk8ip
A Republican lawyer and crypto defender who hopes to be @SenWarren's opponent in the Massachusetts Senate race, @JohnEDeaton1, has filed a supporting brief in a @coinbase clash against the @SECGov. @jesseahamilton reports https://t.co/NF4og7FrsB
Pro-crypto lawyer John Deaton will file an amicus brief in support of Coinbase's motion for an interlocutory appeal https://t.co/QfDffu0sMQ
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including developers, from overzealous interference with their software development work. https://t.co/4j5MnSoYmk
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including intermediaries and developers, from overzealous interference with their software development work. https://t.co/4j5MnSoYmk
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including intermediaries and developers, from overzealous interference with their software development work. #ETHforALL https://t.co/4j5MnSoqwM
Coinbase, Uniswap Execs Praise Ethereum Giant Consensys for Taking On SEC ► https://t.co/NHED3kMj1S https://t.co/NHED3kMj1S
Mark Cuban is supporting @JohnEDeaton1 against Elizabeth Warren! https://t.co/CEtsswiOAd
Crypto vs the SEC 👨⚖️ While we post on 𝕏 a fierce battle over the future of this industry wages on. Gary Gensler & the SEC want nothing more than to curtail crypto in the US. Some have stepped up & are fighting for our rights. 👉❤️🫡🫡 $COIN $UNI $ETH $HEX $TON $XRP https://t.co/yR8sIrpEVu
Grateful for companies like @Consensys for stepping up and continually defending this space. https://t.co/uZljv64dUY
Sue the Exchange Commission Thanks @ethereumJoseph and @Consensys for fighting back and defending our industry We're tired of the overreach and harassment https://t.co/vtWxqKxv9n https://t.co/yDTjjiaJWl
Sue the Exchange Commission Thanks @ethereumJoseph and @Consensys for fighting back and defending our industry Our industry is tired of the overreach and harassment https://t.co/hfOJfsCRxo https://t.co/yDTjjiaJWl
This aged like 🥛 In 2019, @Consensys founder @ethereumJoseph said they are “big friends and fans”of the @SECGov, explaining that the agency views bitcoin and ether as “decentralized” and that no transactions involving those particular assets are considered to be securities. https://t.co/XJGwprohK9
Today we sued the SEC in our home state of Texas to defend ETH & the Ethereum network from Chair Gensler's unlawful power grab. We've been forced to defend multiple secret SEC investigations for years now. It's time they saw the light of day. #EthforAll #crypto #sec #consensys https://t.co/vAQWpP6SH0
I know ETH is a commodity. You know ETH is a commodity. The CFTC knows ETH is a commodity. It's time for the SEC to admit that it still knows ETH is a commodity too. No more games. Thank you to @Consensys for standing up against the SEC's unlawful expansion of authority. https://t.co/8w7A4PBwUK
Consensys is not just challenging the SEC's scofflaw approach to digital asset markets and developers. It is also defending principles that make our system of governance work: the rule of law, fair notice, and due process. Thank you @Consensys @BillHughesDC @MattCorva https://t.co/44V54RG2Yt
Fortune also spoke to @Consensys founder @ethereumJoseph who told @jeffjohnroberts the @SECGov’s theory that staking transformed Ethereum from a commodity into a security is “preposterous” and an attempt to halt the overall growth of #crypto and justify blocking $ETH spot ETFs. https://t.co/DKzZAbW03P
LET'S GO CONSENSYS! All the crypto should grateful that we have @ethereumJoseph and the OG team at @Consensys fighting the good fight against a politically motivated and anti-innovation regulator. https://t.co/ItQVM0ieWv