A former SEC boss has shared evidence suggesting that the chances of the SEC approving a Bitcoin Spot ETF are very low. The evidence includes market manipulation, insider trading, and the use of Twitter bots to influence cryptocurrency prices. The lack of a regulatory framework and consumer protection measures in the cryptocurrency industry have allowed for illicit activities. The former SEC boss also believes that social media has been used to exploit users without compensation. In other news, Cardano has made important updates to its Lace Wallet.
AI Sentiment: Negative