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ETH’s Price Tumbles 6% as Ether ETF Hopes Dim Amid Regulatory Probe Reports

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CoinDesk reported earlier in the day that the Ethereum Foundation, the non-profit organization that helps develop the blockchain behind the second-largest cryptocurrency, faces a confidential inquiry from an unnamed government. Not long after, Fortune said the U.S. Securities and Exchange Commission is waging a campaign to classify the Ethereum blockchain’s native token as a security, beginning a probe after Ethereum moved to a proof-of-stake network in 2022.



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