SEC Agrees To Drop Consensys Lawsuit

The US Securities and Exchange Commission has agreed to drop its lawsuit against the crypto firm Consensys — the developer of MetaMask. The suit claimed that aspects of MetaMask violated securities laws.

As per Joseph Lubin, Ethereum co-founder and Consensys founder, SEC has agreed to file a motion effectively ending the case, and the conclusion of the litigation is still subject to final approval from the commission.

Lubin further added, “Now we can get 100% back to building. 2025 is going to be the best year yet for Ethereum and Consensys. The paradigm shift to a much more decentralized world is accelerating.”

Bill Hughes, the Consensys attorney, told Cointelegraph that the agreement to drop litigation was fairly straightforward and that the SEC would not impose any fines or conditions on Consensys as part of the lawsuit dismissal.

TradFi stablecoins will find it hard to win market share — Bitwise CIO

According to Matt Hougan, the chief investment officer at Bitwise, stablecoins issued by traditional financial institutions may face challenges in gaining significant market adoption

In a Feb 26 post on X, Hougan said, “TradFi stablecoins will find it harder than they think to win market share.”

Hougan cited that the Bank of America (BofA) CEO Brian Moynihan's recently revealed stablecoin ambitions, stating on February 25 that the bank will probably introduce a US dollar-pegged stablecoin as soon as authorities developed the necessary legislation.

The announcement followed Jeremy Allaire's argument that all USD stablecoin issuers ought to be registered in the United States. Circle is the company that issued the second-largest stablecoin, USDC USDC $1.00.

States likely to adopt Bitcoin reserves first: Report

On Feb.28 during the Bitcoin Investor Week conference in New York, Senator Cynthia Lummis reportedly said that States are likely to adopt Bitcoin BTC$84,936 reserves before the US federal government does.

According to a Bloomberg report, Lummis said, “My bets are that you’ll see a state have a Bitcoin strategic reserve before the federal government.” It was proposed Lummis, a Wyoming Republican in July 2024 that the US federal government to create a national Bitcoin stockpile. 

According to Lummis’ website, her bill, dubbed the BITCOIN Act, calls for the US Treasury Department to gradually accumulate 1 million BTC, ultimately acquiring “a total stake of approximately 5% of total Bitcoin supply, mirroring the size and scope of gold reserves held by the United States.”