Approaching the halving event next week, Bitcoin's performance in April has been unpredictable due to various high-impact events. The ongoing sales in the spot Bitcoin ETF market are causing concern among investors alongside the persistent legal scrutiny faced by cryptocurrencies in the US. What is the current status, and what recent notable events have unfolded in the crypto landscape?

Recent Legal Case in Cryptocurrency Sector

A significant event on Tuesday involved a criminal lawsuit against Avraham Eisenberg, the individual responsible for exploiting the DeFi platform Mango. The trial, currently underway in a federal court in Manhattan, is of considerable complexity within the US legal framework, addressing the 2022 incident as "market manipulation."

The trial delved into the question of whether DeFi transactions align with existing US criminal laws, raising jurisdiction issues over decentralized finance protocols. While Eisenberg had confessed to the attack, legal experts in crypto foresee potential groundbreaking implications from this trial for the DeFi sector, anticipating it to establish valuable regulatory guidelines.

Uniswap's Legal Situation

The latest action pursued by the US Securities and Exchange Commission targeted the DeFi sector yet again. Uniswap, a prominent DeFi platform, received a notice indicating a potential lawsuit from the SEC. The extended conflict between protocol officials and the SEC has been ongoing for six years, hinting at challenges faced by DeFi platforms in aligning with regulatory standards. SEC members Peirce and Uyeda have criticized the agency for not offering constructive guidance, leading to legal entanglements for the crypto industry.

Expectations for the Near Future

Anticipations for tomorrow focus on the impact of developments in the ETF market, including uncertainties surrounding Israel's response to Iran's recent missile launches. The prevailing conflict in the Middle East poses risks that could trigger negative sentiments in the global market spheres. Concurrently, many altcoins are witnessing significant double-digit losses, nearing support thresholds. A continuation of current closure trends suggests possible further financial downturns from a technical standpoint by the following day.