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Shiba Inu Exec Says ‘I’m Confident In SHIB’, Here’s Why
The Shiba Inu team has been one of the most active teams on social media, with marketing executive Lucie giving the community regular updates on the project. The team has also talked about their expectations for the Shiba Inu price at various times, especially as investors seem to be on the fence with the SHIB price decline. This time around, Lucie has stepped forward once again to reiterate her belief in the project and why she remains confident in SHIB.
Why Lucie Is Confident In SHIBIn an X post, Lucie boldly stated that she continues to be very confident in the Shiba Inu project. The marketing lead who has so far garnered more than 145,000 projects during her time with the SHIB project gave a number of reasons why she remains confident in Shiba Inu and its future.
For the first reason, Lucie explains that it is because Shiba Inu will always make a comeback. She uses the analogy of the “friend who always bounces back no matter what,” pointing to SHIB’s resilience in the market. This is not farfetched given that the SHIB price had initially crashed over 80% following its initial launch in 2020 before going on to become a top 10, billion-dollar project in 2021.
Another reason that the marketing lead remains confident in the Shiba Inu project is the strong community. The SHIB Army has grown to become one of the top crypto communities in the industry. The project’s official X account alone boasts over 3.8 million followers and is regularly trending on the platform. This strong community is one of the major reasons the meme coin has been able to maintain its spot as a top 20 crypto project.
Last but not lead, Lucie points to the fact that the Shiba Inu project keeps evolving. Over the years, the SHIB project has gone from being a joke spinoff of the Dogecoin meme coin to becoming a serious project with its own Ethereum Layer 2 blockchain, a game, and its own metaverse on the way.
The First Shiba Inu Conference Is ComingAnother major development that continues to put Shiba Inu in the spotlight is the announcement of its own crypto conference. The Shiba Inu conference called “ShibaCon” is expected to be held in Bangkok, Thailand, and will begin on November 9, spanning a total of one week to end on November 15, 2024.
Tickets are already being sold for early birds who can secure their spot in conference early. It is the first major crypto conference to be held by a meme project, further boosting Shiba Inu’s standing among the heavy hitters in the industry.
Власти ОАЭ отменили уплату НДС с криптовалютных операций
Топ-менеджер Worldcoin Фабиан Боденштайнер: Мы больше не отдаем приоритет европейскому рынку
Cardano Founder Praises SUI – Is He Staying With ADA? Here’s His Answer
Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London amid a European tour that included Italy and Switzerland on Sunday. In a video update, Hoskinson dispelled rumors about his commitment to ADA while offering insights into other blockchain projects, notably Sui.
Hoskinson Clarifies His Position On SuiHoskinson began by acknowledging the polarized nature of the crypto ecosystem. “People are so radicalized and polar that they anticipate the founder of Cardano to always just say negative things about the things that people do,” he said. “If I say anything positive, there’s this immediate impression that I’m abandoning Cardano or somehow being disloyal to the project.”
He emphasized that such tribalism is counterproductive. “That tribalism is intrinsically self-destructive,” Hoskinson stated. “It prevents us from learning and growing together as an ecosystem.”
Hoskinson’s comments about Sui, a high-throughput blockchain project, sparked speculation about his allegiance to ADA. Addressing this, he noted his objective interest in Sui’s technology, particularly its consensus protocol developed by George Danezis, a researcher Hoskinson has known for nearly a decade.
“I’ve been looking at the project with an objective eye,” Hoskinson explained. “Some of the technology comes from George Danezis […] He wrote a paper called Narwhal and Tusk, which is one of the fastest BFT protocols ever conceived—incredibly high throughput, six-figure TPS, low latency.”
He clarified his position regarding Sui: “Not commenting on the distribution, the tokenomics, how they’ve launched—all those things—I haven’t looked at those things, nor do I care about them. I don’t hold any [Sui tokens], and I’m not involved with the project in any way.”
Cardano Remains Number OneHoskinson also took the opportunity to reaffirm his dedication to ADA and highlighted its advancements. “Cardano is about compositionality and momentum,” he said. “When we make design decisions as an ecosystem, we build on top of those decisions for years to decades to come.”
He addressed criticisms about Cardano’s technology being outdated: “What’s ironic about it is that Ethereum is desperate to try to be Cardano. They’re trying to figure out how to do on-chain governance; they’re trying to have liquid, non-custodial staking; they’re trying to figure out how to bolt on UTXO.”
Hoskinson also detailed ongoing developments within the ecosystem, including the Ouroboros Leios Protocol which “will be the fastest single-shard protocol around, “according to Hoskinson who added, “The CIP is written; we’re nearly done with the prototyping of it.”
Moreover, the ADA founder praised the progress on governance and decentralization: “We have just turned on the largest decentralized government in the entire industry […] There are more than 500 people who have signed up to be DReps.”
He emphasized that ADA’s approach is geared towards long-term success. “Cardano chose that road because it’s a real cryptocurrency, and its aspiration is to be the dominant platform for the economic, political, and social systems of the world,” Hoskinson asserted and claimed, “We have the best network stack, the best consensus architecture, the best programming model.”
Directly tackling the speculation about leaving Cardano, Hoskinson stated: “I will praise from time to time good science and good engineering effort and interesting protocols that come across, but that doesn’t mean in any sense of the word that I’m no longer on the Cardano train.”
He confidently projected Cardano’s future: “Let me be very clear here: Cardano, I do believe, will become the largest cryptocurrency ecosystem in the world. It’s going to take some time, and it’s going to be done by the collective efforts of millions, if not tens of millions, of people working diligently in their own interests in their own projects over the coming years and decades.”
He concluded with a message of dedication and optimism: “I’m here to stay. I love every part of this. Cardano is here to change the world’s economic, political, and social systems, and it’s built purpose hand-in-glove for that expressed reason.”
At press time, ADA traded at $0.36.
Полиция Вьетнама арестовала пятерых человек по обвинению в продвижении криптосхемы Biconomynft
Виталик Бутерин пожертвовал 100 ETH в фонд разработчиков Tornado Cash
US Bitcoin ETFs See $300 Million Weekly Outflow After Three-Week Inflow
Despite ending the last day of the week with inflows, Spot Bitcoin ETFs in the United States closed out the week with a net outflow. In particular, the ETFs logged $25.59 million of net inflows on Friday but ended the whole week with $301 million in outflows for the first time since September 6, where it recorded a weekly total net outflow of $706.19 million.
Overview Of Recent Bitcoin ETF PerformanceAccording to data from SoSoValue, the cryptocurrency market recently witnessed a significant shift in investor sentiment as US Bitcoin ETFs experienced a substantial $301.54 million outflow. This sharp reversal comes amidst a change in market sentiment after the transition into October, which caused the price of Bitcoin and other cryptocurrencies to reverse most of the September gains.
Furthermore, it comes after three consecutive weeks of steady inflows, with the previous week ending at a total net inflow of $1.11 billion.
On Friday, these ETFs attracted net inflows amounting to $25.59 million as the sentiment started to change and the Bitcoin price returned to $62,000. The Bitwise BITB fund and the Fidelity FBTC received $15.29 million and $13.63 million in inflows, respectively, which was enough to counterbalance an outflow of $13.91 million from the Grayscale GBTC fund. However, this late-week inflow was not enough to counterbalance the broader trend of outflows that dominated the rest of the week.
The ETFs, which started the first day of the week with an inflow of $61.30 million, reversed the trend immediately and had net outflows of $242.53 million, $91.76 million, and $54.13 million on Tuesday, Wednesday, and Thursday. By the close of the week, the total net value of the US Spot Bitcoin ETFs stood at $57.73 billion, a 5.68% drop from $61.21 billion recorded on September 27.
Ethereum ETFs Follow Suit With Net Weekly OutflowAlongside Bitcoin ETFs, Spot Ethereum ETFs also encountered a week of net outflows to reverse the previous week’s inflows. According to data from SoSoValue, the Spot Ethereum ETFs also witnessed $7.39 million in inflows on the last day of the week. However, this wasn’t enough to counterbalance the outflows earlier in the week, eventually ending the week at a net outflow of $30.69 million.
Notably, the netflow data of Spot Ethereum ETFs has been worse than that of Spot Bitcoin ETFs for months now. Data shows that since launch, the Ethereum ETFs have only had two weeks of net inflow. The latest inflow week was registered last week after six consecutive weeks of outflows.
At the time of writing, US-based Spot Bitcoin ETFs hold $57.73 billion worth of Bitcoin. This translates to 4.68% of the total Bitcoin market cap. US-based Spot Ethereum ETFs also hold $6.66 billion worth of Ethereum, which is about 2.28% of the total Ethereum market cap.
Featured image from CNBC, chart from TradingView
Crypto Influencer Ansem Called Out By ZachXBT For Scam Tactics
On-chain investigator ZachXBT has accused well-known influencer Ansem of operating pump-and-dump memecoin scams in the most recent crypto contrroversy. The conflict started after prominent cryptocurrency personality Murad Mahmudov’s statement spurred discussion over the emergence of meme coins in the current market cycle.
A Twitter storm kicked off when Mechanism Capital’s Andrew Kang suggested Mahmudov’s speech might’ve triggered a new wave of memecoin investments. That’s when ZachXBT stepped in, and things got heated fast.
It seems as if @MustStopMurad‘s talk at Token2049 has catalyzed the next wave of capital reallocation into memecoins
Popcat seems to be one of the beneficiaries of these capital flows – now in price discovery
Setting up to join the 4 greats of this cycle – BONK, WIF, PEPE,… pic.twitter.com/MLap3FwbZ9
— Andrew Kang (@Rewkang) October 5, 2024
The Dark Side Of Memecoin PromotionZachXBT didn’t pull any punches. He accused big-name influencers like Ansem of repeatedly pumping new low-cap memecoins because they lack real trading skills. According to Zach, they’re just using their followers to make quick profits. When someone with over 500,000 followers talks about a tiny crypto project, it can send the price skyrocketing. But once they stop talking about it, the price often crashes back down, leaving regular investors holding worthless tokens.
It’s definitely the guy who blew up his fund in March 2020 with his own token down 80% in past year and pivoted to promoting pump and dumps.
— ZachXBT (@zachxbt) October 5, 2024
Crypto Influencer Fires BackAnsem would have none of it. In defense of himself, he asserted that talking about minor cryptocurrency initiatives is perfectly acceptable. He even boasted about his work with WIF, a memecoin whose value increased from $100,000 to $5 billion. Zach, nevertheless, didn’t take long to remind him of the numerous other coins he had advertised that turned out to be worthless.
The Bigger PictureThis fight isn’t just about two guys arguing on Twitter. It shows a real problem in the crypto world. Influencers have enormous power to move markets, especially for smaller cryptocurrencies. While some say they’re just giving people what they want – after all, memecoins are super popular right now – others worry they’re taking advantage of their followers.
ZachXBT describes his role as an exposer of frauds to people and helping to get funds that have been stolen back. ZachXBT is one of the better-known bad guy trackers in crypto, as well as raising warnings about dangerous investments, and that Ansem is focused on potential profits, noting that he’s helped people much more than he’s hurt them by offering trading opportunities.
The debate raises tough questions about what’s right and wrong in crypto promotion. When does sharing investment ideas cross the line into manipulation? It’s especially tricky because the crypto market isn’t as regulated as traditional finance.
As the argument was beginning to wind down, Ansem made a final attempt to get the last word in, stating that Zach was “exaggerating” and that they could “go back and forth on memes all day.” But at this point, the damage was done. This thread pulled the curtain back on the sometimes murky world of crypto influencers and the power these influencers wield over investment decisions among their faithful.
Featured image from Pexels, chart from TradingView
Research Highlights Bitcoin And Crypto Stance As Important Factors In Upcoming US Elections
The next US presidential election is fast approaching, and the crypto stance of the candidates has become an important campaign point than many would’ve expected. According to a recent survey conducted by Consensys, a majority of crypto owners are planning to vote in the presidential election, with nearly half of these voters considering a pro-crypto stance to be a crucial factor in their selection of political candidates.
The Rise Of Crypto Awareness Among VotersThe recent study carried out by Consensys, in partnership with HarrisX, highlighted the growing importance of the crypto industry among an upcoming young voter base. According to the study, 92% of crypto owners in the US plan to vote for the next president. Interestingly, the number of crypto-motivated respondents willing to vote was more than the last presidential election’s margin of victory in every state the study was conducted.
The study found that pro-crypto policy was a crucial factor for voters in the election, with 49% believing it’s important for their go-to candidate to be all in on it. What’s more surprising is that 40% of the respondents who are voters are willing to change their preferred party if a candidate expresses pro-crypto views, while a lesser 27% are not.
In terms of governmental policies, many of the respondents believe that the US government is behind in terms of crypto regulations compared to other crypto-forward countries. Particularly, 44% of voters believe that the US government is not doing enough to encourage the growth of the industry. This sentiment is particularly valid, considering the SEC’s history of clamping down on the industry.
Consensus Moving ForwardThe crypto industry’s presence in the United States has grown massively since the last presidential election. Looking ahead, the influence of cryptocurrency on political campaigns is likely to increase. As more voters embrace digital assets, candidates will be compelled to incorporate crypto-related policies into their platforms.
According to the report, 19% of U.S. voters currently own crypto. This is expected to increase in the coming years, with one in three voters saying they are likely to invest in crypto in the next year. Unsurprisingly, Bitcoin is the most common asset, with 13% of US voters having Bitcoin in their portfolio.
Looking ahead, respondents’ opinions are divided regarding which political party is best equipped to navigate the crypto industry better. The study shows that 35% of respondents trust the Republican party, while 32% trust the Democratic party to get crypto policies right. On the other hand, 26% have yet to make up their minds.
However, 56% of respondents are happy about Donald Trump’s recent crypto-positive campaigns, while 54% think Kamala Harris needs to spell out her crypto game plan. 33% of respondents are more likely to change their preferred candidate if she takes a pro-crypto stance.
Featured image from Pexels, chart from TradingView
US Spot ETFs Hold 4.6% Of Bitcoin Supply – Is BTC Institutional Demand Growing?
Bitcoin and the entire crypto market find themselves at a pivotal moment following several weeks of fluctuating price action. As analysts and investors keep a close eye on market trends, many are optimistic about a potential rally in the coming months. A significant factor influencing this sentiment is the recent entry of US spot exchange-traded funds (ETFs) into the market, which often signal the involvement of institutional money and traditional investors.
According to key data from Glassnode, US spot ETFs currently hold 4.6% of the total Bitcoin supply, translating to an impressive valuation of approximately $58 billion. This growing presence of institutional capital not only adds credibility to BTC but also suggests a potential for increased price stability and upward momentum.
As the market continues to evolve, the actions of these spot ETFs may play a crucial role in determining the trajectory of Bitcoin’s price. With investors eagerly anticipating a rally, the upcoming weeks could be critical in shaping the future of BTC and the broader cryptocurrency landscape.
Traditional Investors Buying BitcoinBitcoin has increasingly become a regular asset for traditional investors seeking exposure to various markets. As the cryptocurrency landscape continues to evolve, institutional money is positioning itself to capitalize on the potential upside that BTC and the broader crypto market offer. The entry of institutional players signifies a maturation of the asset class, as they recognize Bitcoin’s potential to diversify portfolios and hedge against inflation.
Key data from Glassnode indicates that US spot exchange-traded funds (ETFs) currently hold 4.6% of the total Bitcoin supply, valued at approximately $58 billion. This substantial allocation underscores the growing acceptance of BTC as a legitimate investment vehicle among traditional financial institutions. The rise of spot ETFs allows investors to gain regulated exposure to Bitcoin without the complexities of direct ownership, making it more accessible to a broader audience.
Additionally, the recent balance growth in Grayscale’s Bitcoin Mini Trust holdings further illustrates the strong institutional demand for regulated BTC exposure. As more institutions accumulate BTC, it creates a sense of confidence in the market, potentially attracting even more traditional investors.
The increasing institutional demand for BTC not only highlights the opportunities within the crypto space but also serves as a catalyst for further price appreciation. In the coming months, as institutional interest continues to grow, Bitcoin could experience significant upward momentum, reshaping its narrative as a mainstream asset class. This evolving landscape presents a unique opportunity for both seasoned and new investors to participate in what could be a transformative period for BTC and the entire cryptocurrency market.
BTC Holding Strong Above $60,000Bitcoin is currently trading at $61,800 after a sharp 10% dip from local highs of around $66,000. The price tested support at the daily 200 exponential moving average (EMA), which sits at $59,950 and has since bounced back, holding above this crucial level. Bulls now face a critical challenge: if they want to maintain momentum, they must reclaim the 1-day 200 moving average (MA) at $63,556 and push above it to retest local highs around $66,000.
This situation is reminiscent of the classic quote, “What goes up must come down,” but in Bitcoin’s case, the next move could define whether it rockets back up or falls further. If the price fails to break through these resistance levels, it could signal a deeper correction, with lower demand expected at around $57,500. This potential dip is something traders and investors alike are watching closely.
The market is at a pivotal moment, as key support and resistance levels will dictate the next move. As always with Bitcoin, “fortune favors the bold,” and whether this boldness will pay off for bulls or bears remains to be seen. Either way, the next few days will be crucial in determining Bitcoin’s short-term trajectory.
Featured image from Dall-E, chart from TradingView
Number Of Ethereum Whales Holding 10,000 ETH Down By 7% — Implication For Price?
The crypto market recently suffered a significant downturn due to the escalating geopolitical tensions in the Middle East, with several large-cap assets shedding their recently-accrued gains over the past week. Specifically, the price of Ethereum crashed from above $2,600 to as low as $2,300 at some point during the week.
This represents a fresh setback for the “king of altcoins,” which has not had a particularly positive performance in the past few months. Interestingly, a popular crypto pundit on X has come forward with an on-chain observation into the behavior of Ethereum investors over the last quarter.
How Ethereum Whales Shaving Off Their Holdings Will Impact PriceIn a recent post on the social media platform X, crypto analyst Ali Martinez revealed that a particular group of Ethereum whales has been shaving their holdings over the past few months. This on-chain revelation is based on the Mega-Whale Address Count, which tracks the number of addresses holding more than 10,000 units of a particular cryptocurrency.
Whales refer to entities (individuals and organizations) that own significant amounts of a specific cryptocurrency (Ether, in this case). Investors usually pay extra attention to whale movements, as these large entities tend to wield notable influence on market liquidity and prices due to their substantial holdings.
According to Martinez, the number of whale addresses holding over 10,000 ETH has fallen by more than 7% since July 2024. This decline in the population of large Ethereum holders points to some redistribution or profit-taking and suggests a notable shift in market sentiment, especially among large-scale investors and institutional players.
Interestingly, this reduction in whale addresses coincided with a period where the Ethereum price struggled. Despite the approval and launch of spot ETH exchange-traded funds (ETFs), the altcoin’s price fell from above $3,500 in July to as low as $2,200 by August.
As already seen in the token’s price action over the last few months, the decrease in large Ethereum holders could diminish buying pressure on a grand scale, leading to sluggish price movement. Moreover, sustained profit-taking activities by these whales could potentiate downward pressure on the ETH price.
ETH Price At A GlanceAs of this writing, the price of Ethereum sits just above the 2,400 mark, reflecting an insignificant 0.1% decrease in the past 24 hours. The cryptocurrency’s performance on the weekly timeframe is not so insignificant, as the ETH price is down by nearly 10% in the past seven days.
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Bitcoin Miners Dump $143 Million In 6 Days – A Sign Of Trouble?
Bitcoin is at a critical turning point after facing several days of selling pressure and consolidating above the $60,000 mark. While some analysts and investors are anticipating a massive rally in the coming months, key data indicates that the market may not be ready for a breakout just yet.
Recent on-chain data from CryptoQuant reveals that miners are offloading BTC, with their reserves showing a noticeable decline. This suggests that selling pressure from miners could be contributing to the current slowdown.
Despite the optimism for a future rally, the combination of recent price action and on-chain indicators implies that Bitcoin’s much-anticipated upward surge may still take time to materialize. As the crypto market remains uncertain, traders are watching closely for signs of whether the next move will be a bullish breakout or if further consolidation is ahead.
For now, BTC is holding steady, but all eyes are on whether it can maintain strength above $60,000 or if more selling pressure will emerge before the anticipated rally begins.
Bitcoin Miners Taking ProfitsBitcoin’s price action has faced downward pressure recently, driven by a series of selling events that pushed it down from local highs. Key data from CryptoQuant, shared by analyst Ali on X, highlights a significant trend involving Bitcoin miners. According to the data, Bitcoin miner reserves have decreased noticeably over the past few days. Miners sold a total of 2,364 BTC in the last six days, equating to roughly $143 million.
Miners’ sizable sell-off is a critical factor influencing Bitcoin’s current price dynamics. The behavior of miners often provides insight into broader market sentiment, and this recent selling spree suggests that miners may be preparing for a deeper correction. It’s possible they are taking profits after the recent rally or bracing for increased market volatility. The timing of these sales could indicate caution among miners and other big players in the market as they await Bitcoin’s next major move.
The latest price action, combined with these on-chain indicators, underscores the uncertainty surrounding Bitcoin’s short-term trajectory. Miners, known as significant market participants, seem to be playing it safe, which signals that the next few weeks could be pivotal for Bitcoin’s price. Investors are closely watching for further signs of consolidation or a potential breakout as the crypto market navigates this volatile period.
BTC Price Analysis: Holding Above $60,000Bitcoin is currently trading at $61,900, demonstrating strength as it holds above the crucial 4-hour 200 exponential moving average (EMA) at $61,684. Maintaining this level as support is vital for bullish momentum, as a successful push towards $66,000 could confirm the upward trend and open the door to new highs.
Analysts believe that if BTC can decisively break above this key resistance, it would signal a robust recovery and attract further buying interest. This could potentially drive the price to test even higher levels, reinforcing the positive sentiment surrounding the cryptocurrency.
Conversely, if BTC fails to maintain its position above the 4-hour 200 EMA, it could trigger a retracement to lower demand levels, with support anticipated around $57,500. A move below this level would raise concerns about the sustainability of the recent bullish action and might lead to increased selling pressure.
Traders are closely monitoring these price points, as they will determine Bitcoin’s short-term direction. The next few trading sessions will be crucial in establishing whether BTC can continue its bullish trajectory or face a correction back to lower demand zones.
Featured image from Dall-E, chart from TradingView
Vitalik Buterin Donates 100 ETH To Tornado Cash Campaign Following Memecoin Offload
Ethereum (ETH) co-founder Vitalik Buterin has drawn much applause by donating a substantial amount of assets in legal aid of the Tornado Cash developers. Notably, this act comes after the prominent crypto figure stirred the market’s attention with a massive sell-off from his memecoin holdings.
Vitalik Buterin Supports Tornado Cash Founders With $242,000 ETHIn an X post on Saturday, Wu blockchain reported that Vitalik Buterin swapped different amounts of memecoins in his wallet for about 140.6 ETH valued at $340,000. The tokens sold included 70.71 million Neiro, 11.76 billion MOONDENG, 7.8 million DEGEN, 16.03 billion KABOSU, as well as 100,000 USDT donated by the CATE project.
Following these transactions, blockchain analytics platform Spot on Chain noted that the Ethereum co-founder contributed 100 ETH, worth $242,000 to the legal defense fund of Tornado Cash developers Alexey Pertsev and Roman Storm. This follows a previous donation of 30 ETH valued then at $112,000 by Buterin in May to the same cause.
Pertsev and Storm are two of the three founders of the crypto mixer platform Tornado Cash which has come under criticism by national authorities as a tool for enabling criminal activities. According to the US Department of Justice, Tornado Cash has facilitated over $1 billion in money laundering since its launch in 2019.
Currently, both developers are stuck in legal battles with Pertsev serving a five-year sentence in the Netherlands while Roman Storm is awaiting trial in the US following his arrest in August 2023. Meanwhile, the location of the third co-founder Roman Semenov remains unknown. It is currently uncertain if Buterin had diverted the profits from his memecoin sale to the “Free Alexey & Roman” defense campaign. However, the Ethereum co-founder has a history of offloading memecoins to donate to a charitable cause.
Notably in August, Buterin sold off his entire holdings of 17.15 billion Neiro for around 44.42 ETH valued then at $119,000, before donating 200 ETH worth $532,398 to a certain animal welfare fund chosen by the Neiro development team.
Tornado Cash Developers Retain Robust Support From Crypto CommunityTornado Cash is a well-known decentralized platform that mixes crypto assets to obscure their transaction history. It has previously been utilized by hackers and malicious actors in attempts to launder money and conceal stolen funds. This use of Tornado Cash has led to national authorities arresting Alexey Pertsev and Roman Storm on charges of aiding money laundering, by creating, operating, and promoting Tornado Cash.
So far, this enforcement action has been met with much opposition from the crypto community who claim that developers cannot dictate the individual use of protocol and are not responsible for the actions of these bad actors. Aside from Vitalik Buterin, other prominent crypto entities such as Matter Labs and the Uniwao DAO have made substantial donations of $100,000 and $1.5 million to the legal defense fund of these developers.
For many crypto enthusiasts, these legal cases are quite pivotal as an affirmative victory by the government could disenfranchise developers’ participation in the crypto industry. At the time of writing, data from Juicebox shows the defense fund for Alexey Pertsev holds 56.19 ETH worth $135,230 while 327.41 ETH valued at $787,967 has been pledged to the defense of Roman Storm.
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