The youngest son of the legendary John Lennon, Sean Ono Lennon, known for his support of Bitcoin and cryptocurrencies, posted a tweet in which he talks about the recent approval of Bitcoin spot ETFs, raises the Twitter-based Community Notes service and takes a swipe at Senator Elizabeth Warren, vocal crypto opponent.
The youngest son of the legendary John Lennon, Sean Ono Lennon, known for his support of Bitcoin and cryptocurrencies, posted a tweet in which he talks about the recent approval of Bitcoin spot ETFs, raises the Twitter-based Community Notes service and takes a swipe at Senator Elizabeth Warren, vocal crypto opponent.
The politician criticized the recent decision by the US Securities and Exchange Commission and its chairman Gary Gensler to greenlight 11 Bitcoin spot ETF filings. However, Community Notes corrected his tweet, offering arguments supported by mainstream media.
Pro-Cryptocurrency Sean Lennon Praises Community Notes
Earlier today, Senator Warren tweeted that she believes the SEC’s positive ruling on Bitcoin spot ETFs is “wrong both in law and policy.” She stated that if the SEC wants cryptocurrencies to go deeper than they already are in the current financial system, then, she believes, it is even more urgent for cryptocurrency companies and users to start following basic anti-money laundering rules. money.
Community Notes commented that there are already strict laws that help prevent money laundering. He mentioned US-based financial agencies such as FinCEN, CFTC, SEC and their enforcement of various AML “compliance, sanctions compliance and txn monitoring” measures. Community Notes also posted a link to an article published by Reuters to support their counterarguments.
Sean Ono Lennon retweeted that and added “Community notes for the win!”
Bitcoin continues to decline despite ETF approval
Despite the approval of Bitcoin exchange-traded fund applications earlier this week, the price of the world’s flagship cryptocurrency remains in the red. After a nearly 7% surge on Thursday, when Bitcoin briefly managed to break above the $49,000 level, a correction followed, sending BTC down 6.49% to hit a low. At the time of writing, digital gold is exchanging hands at $45,855.
Many traders have started selling their BTC after it hit a local peak to lock in their profits, while some are also exchanging Bitcoin for fiat money to enter the recently launched Bitcoin spot ETFs.
However, during the first day, all multiple Bitcoin ETFs recorded only an inflow of $400 million, while issuers expected much higher figures.
