Ethereum software developer Consensys has sued the U.S. Securities and Exchange Commission (SEC), fighting against what the firm called an “unlawful seizure of authority” over ETH.

Payment processing giant Stripe is diving back into the cryptocurrency world, this time focusing on stablecoins for faster and cheaper transactions according to an announcement made by co-founder and president John Collison.

One of the largest digital asset managers, Pantera Capital, is aiming to raise over $1 billion for a new fund that would offer investors exposure to various blockchain-related assets.

Top stories in the Crypto Roundup today:

• Consensys Sues SEC Over Ethereum Classification
• Stripe to Launch Stablecoin Payments Solution
• Pantera Capital Seeks $1 Billion Fund for Blockchain Investments
• Crypto Market Movers – PRO, ABT, BNB

Consensys Sues SEC Over Ethereum Classification

Ethereum software developer Consensys has sued the U.S. Securities and Exchange Commission (SEC), fighting against what the firm called an “unlawful seizure of authority” over ETH.

The lawsuit, filed in the United States District Court for the Northern District of Texas, seeks a definitive ruling on whether ETH is a security and aims to prevent the SEC from taking enforcement action against Consensys' MetaMask wallet’s Swaps or Staking functions, wanting a federal court to deem its staking service does not violate securities laws.

Consensys contends that MetaMask is “simply an interface” that "neither holds customers' digital assets nor carries out any transaction functions," thus not functioning as a broker under federal securities law.

The lawsuit further claims that the regulator’s stance contradicts its own past statements, citing former SEC Director Bill Hinman's 2018 speech classifying Ethereum as a commodity. Additionally, Consensys argues that the SEC is encroaching on the territory of the Commodities Futures Trading Commission (CFTC), which oversees derivatives tied to Ether.

Consensys argues it “built its business against the backdrop of this regulatory consensus,” and said the SEC’s actions “violate the Constitutional requirement of fair notice under the Due Process Clause.”

It adds that the “SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys,” before leaning on the “major questions doctrine,” a Supreme Court ruling barring federal regulators from dramatically exceeding the scope of their mandates.

Stripe to Launch Stablecoin Payments Solution

Payment processing giant Stripe is diving back into the cryptocurrency world, this time focusing on stablecoins for faster and cheaper transactions according to an announcement made by co-founder and president John Collison.

At the company’s developers conference in San Francisco, Collison said that cryptocurrencies are finally maturing “as a viable medium of exchange,” and pointed to the evolution of the cryptocurrency landscape since Stripe discontinued Bitcoin payments in 2018.

Collison noted that the recent downturn seems to have bypassed stablecoins, referencing a chart showcasing the consistent transfer value of stablecoins. This stability, he argued, makes them a more attractive option for merchants seeking to accept cryptocurrency payments.

Underscoring this point, Collison performed a live transaction on stage using USD Coin (USDC). Stripe will initially offer USDC payments on three blockchain networks: Solana, Ethereum, and Polygon after the company found USDC’s stability makes it a store of value.

Pantera Capital Seeks $1 Billion Fund for Blockchain Investments

One of the largest digital asset managers, Pantera Capital, is aiming to raise over $1 billion for a new fund that would offer investors exposure to various blockchain-related assets.

The fund, dubbed Pantera Fund V, would mark the company's second "all-in-one" investment vehicle, with the offering allowing investors to gain exposure to startup equity, early-stage tokens, established digital currencies, and potentially other assets..

If successful, the fund would represent the largest capital raise in the cryptocurrency industry since a wave of scandals and bankruptcies shook the sector in 2022. While last year fund managers were struggling to raise new capital, recently venture capital firm Paradigm started looking to raise up to $850 million.

Pantera's new fund is expected to reach a similar size as its predecessor, which secured roughly $1.25 billion two years ago. Fund participants have to be qualified investors looking to put in at least $1 million, with a first close set for April 1, 2025. Limited partners would need to contribute at least $25 million.

Crypto Market Movers – PRO, ABT, BNB

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Propy (PRO) - Propy is a blockchain-based platform that uses Ethereum blockchain technology to facilitate real estate transactions. It employs smart contracts to automate aspects of the buying and selling process, aiming to reduce paperwork, improve security, and speed up transactions. The platform features a global property marketplace, enabling users from various countries to access and purchase real estate.

ArcBlock (ABT) - The ArcBlock Token (ABT) is native to the ArcBlock platform. To achieve high-performance transactions, we built an optimized blockchain dedicated to ArcBlock’s own token services and the public ledger. The design goal is to achieve >100,000 Tx/s, which is more than adequate for a wide range of applications. In the future this blockchain could be improved for broader purposes.

Binance Coin (BNB) - Binance Coin, known as BNB, is the cryptocurrency token that powers the BNB Chain ecosystem. Initially referred to as Binance Coin, it plays a central role in the functionalities of the Binance ecosystem, which includes the world's largest cryptocurrency exchange by volume. BNB operates as a utility token, allowing users to trade it like any other cryptocurrency. Furthermore, BNB is used in a variety of applications and use cases, extending its utility beyond mere trading.

State of the Crypto by Top Tier Exchange Volume

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