Weekly recap: Lawsuits fly, Wall Street eyes Solana ETFs, Vitalik goes Mega, and more stories you missed

It was a week of ups and downs for SEC Chair Gary Gensler. On Thursday, Coinbase sued the agency and the FDIC over its handling of FOIA information requests, while on Friday the SEC sued MetaMask-maker Consensys over the $250 million in fees it's collected. Plus, YouTuber Logan Paul sued fellow YouTube creator CoffeeZilla for defamation over the latter's critical coverage of Paul's CryptoZoo project.

Coinbase has filed a lawsuit against the SEC and the Federal Deposit Insurance Corporation , claiming that these agencies have not adequately responded to its Freedom of Information Act requests. Coinbase seeks to uncover whether federal regulators have been deliberately attempting to marginalize the crypto industry through coordinated actions​.

Finally, the US Supreme Court's reversal of the so-called "Chevron" doctrine may give the crypto industry a win, according to pundits, who are also cheering on the recent mixed decision handed down in the SEC's case against Binance. Following the success of spot Bitcoin and Ether ETF approvals, Wall Street is now eyeing its next ETF target: Solana. VanEck was the first to file for a Solana ETF, claiming the token is a commodity, though 21Shares followed with its own S-1 filing.

Vitalik Buterin, co-founder of Ethereum, invested in new blockchain project MegaETH, part of a $20 million fundraising round at a "nine-figure" token valuation. The project hopes to reach 100,000 transactions per second through two key techniques — a heterogeneous blockchain architecture and a "hyper-optimized" EVM execution environment. Mt.

Source: News Formal (newsformal.com)

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