• Ethereum has recently completed its Shanghai Upgrade, allowing ETH stakers to withdraw their Ether for the first time.
• ConsenSys celebrated the upgrade with a giveaway of Shanghai/Capella NFTs to ETH stakers.
• Pro-XRP Attorney Deaton responded to the announcement by referencing Bill Hinman’s remark that SEC does not view Ethereum as having any third-party promoters.
Ethereum’s Shanghai Upgrade
The world’s second-largest crypto asset by market cap, Ethereum, is keeping pace with innovative upgrades. The newest development on Ethereum is the completion of its latest Shanghai Upgrade. On April 13, ConsenSys took to Twitter to celebrate the long-awaited launch of Ethereum’s Shanghai Upgrade. The update will permit ETH stakers to withdraw their staked Ether for the first time.
ConsenSys Celebrates Upgrade
According to the tweet from ConsenSys, Ethereum’s upgrade was on the execution and consensus layers of the network. Hence, users could finally withdraw their staked ETH from the Ethereum staking pool. In its announcement, ConsenSys promised a giveaway of Shanghai/Capella NFT to some of the ETH stakers. This was part of the firm’s approach to celebrating the latest evolution of ETH through an upgrade.
But while responding to the announcement, the founder of CryptoLaw, Attorney Deaton, referenced Hinman’s remark. He posted, “When we look at Ethereum, we don’t see a third promoter.” Deaton’s response implies that ConsenSys is Ethereum’s third-party promoter..
Controversies Surrounding Hinman’s Remark
During an interview in 2018 with CNBC , former director of SEC’s Division Of Corporation Finance Bill Hinman announced that BTC and ETH are non-securities . However he did not comment on XRP though it was among top three digital assets by market cap in 2018 . This statement caused controversy as SEC accused Ripple for selling unregistered securities later .
In conclusion , recent updates and developments on Ethereum show that it is continuing its progress towards becoming more secure and reliable cryptocurrency . With this new update , users can now stake their Ether and have access to withdrawal options as well . Furthermore , controversies arose when Bill Hinman did not comment on XRP during his interview which implied that SEC did not view it as being promoted by any third party .