After the US Securities and Exchange Commission (SEC) labeled Algorand (ALGO) a security, a video of SEC Chairman Gary Gensler praising the project began to circulate on social media.
The SEC recently signed up for Bittrex, the well-established cryptocurrency exchange. against the unregistered stock market activity ALGO described it as a security. Thereupon, on social media, SEC Chairman Gensler said 4 years ago. praising the project A video has resurfaced.
Gensler said in his speech, high performance One smart contract network to various applications. integration talked about and from Algorand Wonderful One technology mentioned as. Also in conversation, he used for ALGO “a versatile currency” expression attracted attention.
Users can use ALGO in Gensler’s related talk. “shilling” asserting himself hypocrisy And by fraud accused. Well-known in the cryptocurrency market from the actors some since the launch of ALGO to 95% close to lose value drew attention to Gensler’s views.
on the other hand Cinneamhain Ventures partner Adam Cochran one on the subject in the statementAlgorand Founder Professor by Silvio Micali He said he worked with Gary Gensler at the Massachusetts Institute of Technology (MIT) and that one person in this profile SEC rules didn’t understand to have impossible claimed it was.
In addition, Cochran said the SEC’s ALGO as a security. characterization of should have been the subject of a different case. Bittrex also considered in the case illegal implied it was.
After learning that it was the subject of the lawsuit, ALGO, $0.234 from the level $0.219 down to the level to 7% close lost value.
According to Coinecko data, the latest 30 days in 3.7% appreciated ALGOend 24 hours in %one declining as of writing 0.224 traded at the dollar level.