GM, this is The Crypto Explorer, the spiciest newsletter in crypto town, we're so hot even our writers can't stand the heat! 😀

Here’s what we got for you today:

• 🪙 Is Coinbase leaving the US?

• 🥞 Congress grills Gensler on Eth status

• 🧱 Around the Block: Rebase Co-founder goes rogue

🪙 Is Coinbase Leaving the US?

Coinbase is considering a change of address!

They're considering moving the company out of the US due to the uncertain crypto regulatory environment in the country.

(Remember that the SEC last month served Coinbase with a Wells notice — an alert that typically precedes an enforcement action — related to alleged securities violations).

But where will they go?

Owen Lau, an executive director at Oppenheimer & Co., said that Europe would be a better home for Coinbase.

The Exchange already has a significant presence in the UK, and with the proposed Financial Services and Markets Bill that includes regulations for stablecoins and crypto assets, Europe seems like a pretty tempting option.

However, industry watchers are split on the likelihood of Coinbase moving, with one analyst noting that it wouldn't resolve regulatory issues with the US, where a whopping 84% of the exchange's revenue comes from.

What do you think, will Coinbase make the move?

🥞 Congress Grills Gensler on Eth Status

Gary Gensler, the Chair of the SEC appeared before the US Congress yesterday to answer questions regarding his controversial tenure.

During the hearing, the Chair of the Financial Services Committee, Patrick McHenry asked Gensler a simple question:

Is Eth a commodity or security?

Given how vocal Gensler has been about his stands on crypto over the years, I was expecting a resounding yes!

However, Gensler didn't provide a direct answer to the question. His answer was: "It depends on the facts and the law."

Can you believe that! 🤣

This is the same person holding the entire crypto industry by the balls, yet he couldn't provide a simple answer to that question. 😂

McHenry pressed for a more definitive answer, but it was obvious he was trying to squeeze water out of a rock, Gensler refused to provide a clear response.

 🧱 Around The Block: Rebase Co-founder Goes Rogue

• 🏧 Bitcoin ATMs: Australia installs more Bitcoin ATMs than the whole of Asia.

• 💸 MetaMask Wallet Exploit: MetaMask denies claims of wallet exploit in ‘massive’ $10M hack.

• ⚖️ UK crypto regulation: UK may have crypto regulation within a year.

• ☄️ Rebase Co-founder goes rogue: NFT app Rebase co-founder accused of going ‘rogue’ in a suit by partner

That's all we have for today.

We'd love your feedback.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.