Numerous meme coins have surged in popularity lately, but this trend is expected to fade away within a few weeks.
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Bitcoin and Ether experienced a surge in value following mildly favorable inflation data, but then declined in response to rumors of a U.S. government sell-off of BTC. However, the cryptocurrencies rebounded as investors disregarded the market upheaval.
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Gary Gensler, the head of the SEC, said that proof-of-stake cryptocurrencies could be subject to securities laws, but he didn't say which ones.
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