Attorney Deaton elaborated on the possible scenarios and intricacies of how the summary judgment would be enforced.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Evidence of crypto usage by ISIS is 'mounting': TRM Labs
Blockchain intelligence platform TRM Labs revealed that Tether (USDT) on the Tron network was being used for most of the transactions.
Terra interim CEO says any 'little progress' made gets derailed by accusations
Terraform Labs recently appointed CEO Chris Amani held a Twitter Spaces with the purpose of separating the operations of Terraform Labs from Do Kwon’s personal affairs.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
The SEC examines the ruling in the Ripple case, a U.S. Senate bill seeks to regulate DeFi, and the poor performance of altcoins in the second quarter of 2023.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
Top Stories This Week
Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration
U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other XRP distributions. Comments made by the regulator on July 21 in a lawsuit hinted that it might appeal the decision. In the crypto community, however, some believe it is unlikely to happen as the SEC benefits from the “current confusion.”
A bipartisan bill was introduced into the U.S. Senate, tightening regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” The proposal also makes “anyone who controls that project” liable for the use of the DeFi service by sanctioned persons. The bill also set new requirements for operators of crypto kiosks (or ATMs) to prevent their use in money laundering. Kiosk operators would be required to verify the identities of both counterparties in a transaction.
Altcoins ‘bled’ as Bitcoin gained dominance in Q2: CoinGecko
The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins, which “bled” throughout the period, according to CoinGecko’s industry report. Bitcoin (BTC) and Ether (ETH) continued to build their market share over the past months, while Binance Coin (BNB), XRP (XRP), and Cardano (ADA) suffered double-digit losses over the quarter. DeFi tokens were hit particularly hard during the quarter, with Uniswap (UNI), Chainlink (LINK) and Lido (LDO) taking double-digit losses as well. The top five metaverse and play-to-earn tokens by market cap also marked losses up to 40%.
Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval
Applications from several firms for a spot Bitcoin exchange-traded fund (ETF) have been published in the Federal Register, moving them one step along in the U.S. SEC process. According to the records, applications from BlackRock, Fidelity, Invesco Galaxy, VanEck and WisdomTree were officially registered. Publishing the applications gives the SEC a window of opportunity to accept or reject the request, extend the time allowed or open the application for public comment. The SEC has an initial window of 45 days to reach a decision, but the commission has the option of extending the process for up to 240 days — until March 2024 — for final approval or denial.
Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president
Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin if he is elected president. Kennedy said during an event that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy. Kennedy explained the process would be gradual and that, depending on the plan’s success, he’d adjust the amount of backing for the dollar. Additionally, Kennedy declared he would make Bitcoin-to-U.S. dollar conversions exempt from capital gains taxes in an attempt to spur investments in the country.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
Top Stories This Week
Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration
U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other XRP distributions. Comments made by the regulator on July 21 in a lawsuit hinted that it might appeal the decision. In the crypto community, however, some believe it is unlikely to happen as the SEC benefits from the “current confusion.”
A bipartisan bill was introduced into the U.S. Senate, tightening regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” The proposal also makes “anyone who controls that project” liable for the use of the DeFi service by sanctioned persons. The bill also set new requirements for operators of crypto kiosks (or ATMs) to prevent their use in money laundering. Kiosk operators would be required to verify the identities of both counterparties in a transaction.
Altcoins ‘bled’ as Bitcoin gained dominance in Q2: CoinGecko
The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins, which “bled” throughout the period, according to CoinGecko’s industry report. Bitcoin (BTC) and Ether (ETH) continued to build their market share over the past months, while Binance Coin (BNB), XRP (XRP), and Cardano (ADA) suffered double-digit losses over the quarter. DeFi tokens were hit particularly hard during the quarter, with Uniswap (UNI), Chainlink (LINK) and Lido (LDO) taking double-digit losses as well. The top five metaverse and play-to-earn tokens by market cap also marked losses up to 40%.
Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval
Applications from several firms for a spot Bitcoin exchange-traded fund (ETF) have been published in the Federal Register, moving them one step along in the U.S. SEC process. According to the records, applications from BlackRock, Fidelity, Invesco Galaxy, VanEck and WisdomTree were officially registered. Publishing the applications gives the SEC a window of opportunity to accept or reject the request, extend the time allowed or open the application for public comment. The SEC has an initial window of 45 days to reach a decision, but the commission has the option of extending the process for up to 240 days — until March 2024 — for final approval or denial.
Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president
Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin if he is elected president. Kennedy said during an event that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy. Kennedy explained the process would be gradual and that, depending on the plan’s success, he’d adjust the amount of backing for the dollar. Additionally, Kennedy declared he would make Bitcoin-to-U.S. dollar conversions exempt from capital gains taxes in an attempt to spur investments in the country.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
The SEC examines the ruling in the Ripple case, a U.S. Senate bill seeks to regulate DeFi, and the poor performance of altcoins in the second quarter of 2023.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
The SEC examines the ruling in the Ripple case, a U.S. Senate bill seeks to regulate DeFi, and the poor performance of altcoins in the second quarter of 2023.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
The SEC examines the ruling in the Ripple case, a U.S. Senate bill seeks to regulate DeFi, and the poor performance of altcoins in the second quarter of 2023.
SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler’s Digest, July 16-22
Top Stories This Week
Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration
U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other XRP distributions. Comments made by the regulator on July 21 in a lawsuit hinted that it might appeal the decision. In the crypto community, however, some believe it is unlikely to happen as the SEC benefits from the “current confusion.”
A bipartisan bill was introduced into the U.S. Senate, tightening regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” The proposal also makes “anyone who controls that project” liable for the use of the DeFi service by sanctioned persons. The bill also set new requirements for operators of crypto kiosks (or ATMs) to prevent their use in money laundering. Kiosk operators would be required to verify the identities of both counterparties in a transaction.
Altcoins ‘bled’ as Bitcoin gained dominance in Q2: CoinGecko
The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins, which “bled” throughout the period, according to CoinGecko’s industry report. Bitcoin (BTC) and Ether (ETH) continued to build their market share over the past months, while Binance Coin (BNB), XRP (XRP), and Cardano (ADA) suffered double-digit losses over the quarter. DeFi tokens were hit particularly hard during the quarter, with Uniswap (UNI), Chainlink (LINK) and Lido (LDO) taking double-digit losses as well. The top five metaverse and play-to-earn tokens by market cap also marked losses up to 40%.
Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval
Applications from several firms for a spot Bitcoin exchange-traded fund (ETF) have been published in the Federal Register, moving them one step along in the U.S. SEC process. According to the records, applications from BlackRock, Fidelity, Invesco Galaxy, VanEck and WisdomTree were officially registered. Publishing the applications gives the SEC a window of opportunity to accept or reject the request, extend the time allowed or open the application for public comment. The SEC has an initial window of 45 days to reach a decision, but the commission has the option of extending the process for up to 240 days — until March 2024 — for final approval or denial.
Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president
Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin if he is elected president. Kennedy said during an event that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy. Kennedy explained the process would be gradual and that, depending on the plan’s success, he’d adjust the amount of backing for the dollar. Additionally, Kennedy declared he would make Bitcoin-to-U.S. dollar conversions exempt from capital gains taxes in an attempt to spur investments in the country.
Ripple applies for crypto license in the United Kingdom
Ripple applied for a registration as a crypto asset firm with the United Kingdom's Financial Conduct Authority (FCA) after its partial win against the U.S. SEC.
Celsius Network reaches settlements to exit bankruptcy
Bankrupted crypto lender Celsius Network reached two settlements that may allow the return of assets to customers and end its bankruptcy proceedings.
What is the difference between DApps and protocols?
Discover the contrasting functions of DApps and protocols in the blockchain world, and gain insights into how they contribute to the growth of decentralized technologies.
Nigerian social payments app shuts down crypto exchange services
The company cited that it will cease operations of its exchange services as part of the shareholders' decision to restructure the business to focus on Cashlink.
SEC hints at potential appeal to XRP ruling from Ripple Labs lawsuit
According to court documents, the SEC stated that it is now “considering the various available avenues for further review” on the ruling which found XRP to not be a security.
Crypto Biz: Binance slashes costs, Ripple ready for US banks and crypto VCs return
This week’s Crypto Biz looks at Binance’s ongoing efforts to curb declining profits, Ripple’s expectation that U.S. banks may soon adopt XRP and the first signs of venture capital returning to crypto.
Centralized exchanges will become gateways for DeFi: Finance Redefined
The top 100 DeFi tokens had a mixed week, with most of the tokens continuing to trade in a similar range as the previous week.
UK court grants appeal from Craig Wright in Bitcoin rights lawsuit
The decision reverses a prior ruling, allowing Craig Wright to appeal a lawsuit claiming copyright to the Bitcoin whitepaper and database.
Litecoin price at risk of a 30% drop if key LTC futures historical trend repeats
With less than two weeks until Litecoin’s halving, when the miner’s block subsidy will be cut in half, traders are questioning whether the additional scarcity effect will be enough to sustain the LTC price above $90.
Litecoin’s (LTC) price has declined by 19% in the last 18 days, but it has shown a positive 31% performance this year. Notably, most gains occurred between June 29 and July 2, with a 34% rally pushing the price to a 14-month high of $115.
Litecoin/USD 1-day price at Coinbase, 2023. Source: TradingViewHowever, there’s an alarming statistic coming from the derivatives market that indicates a sharp correction is likely underway.
Historical data doesn’t favor Litecoin bulls
Each of the previous three instances where Litecoin futures open interest dropped below $500 million caused price drops of 38% or higher, which potentially matches the current scenario.
Litecoin futures’ aggregate open interest in dollars from June 29 ($300 million) to July 2 ($615 million) shows there was a significant surge, indicating increased demand for leveraged futures contracts.
Price analysis 7/21: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty.
Glassnode’s latest weekly newsletter highlighted that Bitcoin’s (BTC) consolidation has shrunk the Bollinger Bands, which are separated by just 4.2%. Citing various on-chain indicators, the authors concluded that investors are unwilling to sell, and in several aspects, it looks similar to “periods like 2016 and 2019-20, characterized by choppy market conditions.”
Daily cryptocurrency market performance. Source: Coin360Although Bitcoin’s near term may look uncertain, the long term remains bullish. Capriole Investments founder Charles Edwards said in an interview with Cointelegraph that access to BlackRock’s exchange-traded fund application could make it “easier for institutions to put Bitcoin on their balance sheet.”
Will Bitcoin plunge below the support of the range and start a new downward move, dragging several altcoins lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin has been sustaining below the 20-day exponential moving average (EMA) of $30,067 since July 17, which is a negative sign. It shows a lack of aggressive buying at current levels.
