Amidst ongoing investigations into the Ethereum Foundation and concerns over the potential classification of ETH as a security, Solana co-founder Anatoly Ykovenko has defended the second-largest cryptocurrency.
Ykovenko acknowledged Ethereum's challenges but maintained a positive outlook, emphasizing its resilience and ability to overcome obstacles over time. Despite Solana's own setbacks, such as the Ore exploit and ongoing spam issues, Ykovenko remained bullish on Ethereum's potential.
Ripple CEO Brad Garlinghouse also publicly defended Ethereum against heightened scrutiny from the SEC. He argued that the agency's regressive approach is counterproductive.
Michael Saylor's recent comments, suggesting Ethereum's classification as a security, have reignited the debate. In contrast, Garlinghouse has been a vocal supporter of Ethereum, citing Ripple's victory over the SEC, where a judge ruled that XRP is not a security.