Twitter co-founder Jack Dorsey has sparked a debate on the social media platform with several crypto experts
The online spat comes at a time when the SEC is filing lawsuits against crypto exchanges
However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck, commented on Wertheimer's tweet, saying that Ethereum's recent transition to proof-of-stake might have triggered securities laws again. The online spat comes at a time when the SEC is filing lawsuits against crypto exchanges for allegedly offering tokens that are unregistered securities. Ethereum’s ETH token has not been named as a security in these lawsuits, but it was referred to as a security in a lawsuit filed against crypto exchange Kucoin by New York Attorney General Letitia James.
Dorsey also shared a screenshot of an old, since-deleted tweet by Coinbase CEO Brian Armstrong in 2015, where he said that altcoins were a "distraction" and that Coinbase should be focused on Bitcoin. Additionally, Dorsey shared a year-old video of Strike CEO Jack Mallers where he criticized Armstrong for listing numerous altcoins for trading and not focusing on Bitcoin.