Hot crypto news: Ether rallies

Hot crypto news: Ether rallies, Coinbase backs Tornado Cash suit, and businesses await The Merge!

– Ethereum surged to a new all-time high on Wednesday, as the second-largest cryptocurrency by market value crossed $4,000 for the first time.
– The rally in ether comes as the cryptocurrency’s underlying blockchain network, ethereum, is set to undergo a major upgrade later this month that could boost its use case as a platform for so-called decentralized finance, or DeFi, applications.
– Coinbase, the largest U.S. cryptocurrency exchange, said Wednesday it will back a lawsuit filed by the developers of Tornado Cash, a popular ethereum privacy tool, against the U.S. government.
– The lawsuit, filed last week, alleges that the U.S. Securities and Exchange Commission’s decision to classify ethereum as a security violates the developers’ constitutional rights.
– Businesses await The Merge, a proposed update to the ethereum network that would bring it closer to full decentralization. The upgrade is scheduled to occur later this month.

107115682 090822 CW Thumb Hot crypto news: Ether rallies, Coinbase backs Tornado Cash suit, and businesses await The Merge!

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