In the midst of the SEC's lawsuit against Coinbase, industry experts and prominent figures have shared their opinions on the matter. Pierre Rochard, vice president of research at Riot Platforms, suggested that Coinbase refocus its attention on Bitcoin.
Echoing Rochard's sentiment, Twitter founder Jack Dorsey, known for his advocacy of Bitcoin, also expressed support for prioritizing the main cryptocurrency amid regulatory challenges. The founder of Twitter further emphasized the scarcity of censorship-resistant technologies at scale, including Tor, Bitcoin and Nostr.
Elon Musk, the world's richest man and current owner of Twitter, promptly responded to Dorsey's pro-Bitcoin stance with a concise yet attention-grabbing tweet, injecting his characteristic wit into the conversation. Musk, who has previously expressed interest in Dogecoin, a meme-inspired cryptocurrency, tweeted: "DOGE ftw," an abbreviation for "for the win." With this simple reply, Musk emphasized his ongoing enthusiasm for Dogecoin, adding an interesting twist to the ongoing discussion surrounding Bitcoin's prominence.
While Dorsey has yet to respond directly to Musk's tweet, he made a notable comment regarding Ethereum. In response to a question about ETH's classification, Dorsey affirmed its status, implying that he believes Ethereum should be considered a security. This statement adds a new layer of complexity to the ongoing debates surrounding the regulatory treatment of cryptocurrencies and may spark further discussions within the industry.