Ripple Labs has partially defeated the SEC in court, triggering a price increase for XRP. A billion-dollar fine was imposed on Celsius Network by the FTC, and its CEO was arrested for fraud.
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XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest, July 9-15
Top Stories This Week
Judge rules XRP is not a security in SEC’s case against Ripple
Ripple Labs scored a victory in a district court in New York on July 13, with Judge Analisa Torres ruling partially in favor of the company in a case brought forth by the U.S. Securities and Exchange Commission (SEC) dating back to 2020. According to court documents, Judge Torres granted summary judgment in favor of Ripple Labs, ruling that the XRP token is not a security, but only in regard to programmatic sales on digital asset exchanges. XRP’s price skyrocketed within minutes of the news breaking. The case has been ongoing since December 2020, when the SEC sued Ripple and two of its executives over allegations of offering an unregistered security. Despite the positive outcome, several lawyers warned against celebrating too soon, noting the ruling is only partial and does not set a precedent. In addition, the SEC may appeal the decision, which could result in a reversal by a higher court.
XRP becomes 4th largest crypto after Ripple’s partial win over SEC
XRP has become the fourth-largest cryptocurrency by market capitalization this week after Ripple’s partial victory over the SEC. The price of XRP surged as much as 98% in the hours following the decision, reaching as high as $0.93, according to data from TradingView. Meanwhile, its market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion. The new ruling has also sparked a fresh wave of re-listing activity from mainstay U.S. exchanges, with Coinbase, Kraken and iTrustCapital making the token available for trading on their respective platforms.
Celsius Network fined $4.7B by FTC, and CEO arrested under criminal fraud charges
U.S. authorities have announced charges against the former CEO of bankrupt crypto lender Celsius, Alex Mashinsky, over securities fraud, commodities fraud and wire fraud. Former chief revenue officer Roni Cohen-Pavon and Mashinsky will also face charges of conspiracy, securities fraud, market manipulation and wire fraud related to manipulating the price of the Celsius token. Authorities arrested Mashinsky as part of the indictment, which includes seven criminal counts. In parallel, the Commodity Futures Trading Commission announced a complaint against Celsius along with a $4.7 billion fine, claiming its co-founders marketed the platform as a “safe place” for consumers to deposit their cryptocurrency while misappropriating over $4 billion in consumers’ assets. Under similar allegations, the SEC also filed a lawsuit against the company. While Celsius is cooperating with regulators, Mashinsky pleaded not guilty to charges of misleading customers and inflating the CEL token.
Europe’s first spot Bitcoin ETF eyes 2023 debut after year-long delay
Europe’s first spot Bitcoin exchange-traded fund (ETF) is set to debut later this year after a long delay. The Bitcoin ETF, created by London-based Jacobi Asset Management, was set to debut in July 2022 but was postponed due to market conditions. The asset manager now sees a gradual shift in demand compared with 2022. A related development also took place in Argentina this week, as the nation welcomed its first Bitcoin futures contract. According to Matba Rofex, the trading platform behind the investment vehicle, it is the first Bitcoin futures contract in Latin America.
Binance has reportedly laid off hundreds of employees in recent weeks. According to former employees, cuts were global and customer service workers were heavily affected, particularly in India. Including this week’s layoffs, over 1,000 employees have lost their jobs at the exchange. Before the slash, Binance’s global headcount was estimated at 8,000. The reorganization could cost Binance more than a third of its staff. The crypto exchange announced the 20% reduction in staff on May 31, claiming it was not downsizing but reallocating resources amid the ongoing crackdown in the United States. Binance’s most enduring challenge is reportedly an ongoing investigation of its activities and executives by the U.S. Justice Department.
XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest, July 9-15
Ripple Labs has partially defeated the SEC in court, triggering a price increase for XRP. A billion-dollar fine was imposed on Celsius Network by the FTC, and its CEO was arrested for fraud.
XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest, July 9-15
Ripple Labs has partially defeated the SEC in court, triggering a price increase for XRP. A billion-dollar fine was imposed on Celsius Network by the FTC, and its CEO was arrested for fraud.
XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest, July 9-15
Top Stories This Week
Judge rules XRP is not a security in SEC’s case against Ripple
Ripple Labs scored a victory in a district court in New York on July 13, with Judge Analisa Torres ruling partially in favor of the company in a case brought forth by the U.S. Securities and Exchange Commission (SEC) dating back to 2020. According to court documents, Judge Torres granted summary judgment in favor of Ripple Labs, ruling that the XRP token is not a security, but only in regard to programmatic sales on digital asset exchanges. XRP’s price skyrocketed within minutes of the news breaking. The case has been ongoing since December 2020, when the SEC sued Ripple and two of its executives over allegations of offering an unregistered security. Despite the positive outcome, several lawyers warned against celebrating too soon, noting the ruling is only partial and does not set a precedent. In addition, the SEC may appeal the decision, which could result in a reversal by a higher court.
XRP becomes 4th largest crypto after Ripple’s partial win over SEC
XRP has become the fourth-largest cryptocurrency by market capitalization this week after Ripple’s partial victory over the SEC. The price of XRP surged as much as 98% in the hours following the decision, reaching as high as $0.93, according to data from TradingView. Meanwhile, its market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion. The new ruling has also sparked a fresh wave of re-listing activity from mainstay U.S. exchanges, with Coinbase, Kraken and iTrustCapital making the token available for trading on their respective platforms.
Celsius Network fined $4.7B by FTC, and CEO arrested under criminal fraud charges
U.S. authorities have announced charges against the former CEO of bankrupt crypto lender Celsius, Alex Mashinsky, over securities fraud, commodities fraud and wire fraud. Former chief revenue officer Roni Cohen-Pavon and Mashinsky will also face charges of conspiracy, securities fraud, market manipulation and wire fraud related to manipulating the price of the Celsius token. Authorities arrested Mashinsky as part of the indictment, which includes seven criminal counts. In parallel, the Commodity Futures Trading Commission announced a complaint against Celsius along with a $4.7 billion fine, claiming its co-founders marketed the platform as a “safe place” for consumers to deposit their cryptocurrency while misappropriating over $4 billion in consumers’ assets. Under similar allegations, the SEC also filed a lawsuit against the company. While Celsius is cooperating with regulators, Mashinsky pleaded not guilty to charges of misleading customers and inflating the CEL token.
Europe’s first spot Bitcoin ETF eyes 2023 debut after year-long delay
Europe’s first spot Bitcoin exchange-traded fund (ETF) is set to debut later this year after a long delay. The Bitcoin ETF, created by London-based Jacobi Asset Management, was set to debut in July 2022 but was postponed due to market conditions. The asset manager now sees a gradual shift in demand compared with 2022. A related development also took place in Argentina this week, as the nation welcomed its first Bitcoin futures contract. According to Matba Rofex, the trading platform behind the investment vehicle, it is the first Bitcoin futures contract in Latin America.
Binance has reportedly laid off hundreds of employees in recent weeks. According to former employees, cuts were global and customer service workers were heavily affected, particularly in India. Including this week’s layoffs, over 1,000 employees have lost their jobs at the exchange. Before the slash, Binance’s global headcount was estimated at 8,000. The reorganization could cost Binance more than a third of its staff. The crypto exchange announced the 20% reduction in staff on May 31, claiming it was not downsizing but reallocating resources amid the ongoing crackdown in the United States. Binance’s most enduring challenge is reportedly an ongoing investigation of its activities and executives by the U.S. Justice Department.
XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest, July 9-15
Top Stories This Week
Judge rules XRP is not a security in SEC’s case against Ripple
Ripple Labs scored a victory in a district court in New York on July 13, with Judge Analisa Torres ruling partially in favor of the company in a case brought forth by the U.S. Securities and Exchange Commission (SEC) dating back to 2020. According to court documents, Judge Torres granted summary judgment in favor of Ripple Labs, ruling that the XRP token is not a security, but only in regard to programmatic sales on digital asset exchanges. XRP’s price skyrocketed within minutes of the news breaking. The case has been ongoing since December 2020, when the SEC sued Ripple and two of its executives over allegations of offering an unregistered security. Despite the positive outcome, several lawyers warned against celebrating too soon, noting the ruling is only partial and does not set a precedent. In addition, the SEC may appeal the decision, which could result in a reversal by a higher court.
XRP becomes 4th largest crypto after Ripple’s partial win over SEC
XRP has become the fourth-largest cryptocurrency by market capitalization this week after Ripple’s partial victory over the SEC. The price of XRP surged as much as 98% in the hours following the decision, reaching as high as $0.93, according to data from TradingView. Meanwhile, its market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion. The new ruling has also sparked a fresh wave of re-listing activity from mainstay U.S. exchanges, with Coinbase, Kraken and iTrustCapital making the token available for trading on their respective platforms.
Celsius Network fined $4.7B by FTC, and CEO arrested under criminal fraud charges
U.S. authorities have announced charges against the former CEO of bankrupt crypto lender Celsius, Alex Mashinsky, over securities fraud, commodities fraud and wire fraud. Former chief revenue officer Roni Cohen-Pavon and Mashinsky will also face charges of conspiracy, securities fraud, market manipulation and wire fraud related to manipulating the price of the Celsius token. Authorities arrested Mashinsky as part of the indictment, which includes seven criminal counts. In parallel, the Commodity Futures Trading Commission announced a complaint against Celsius along with a $4.7 billion fine, claiming its co-founders marketed the platform as a “safe place” for consumers to deposit their cryptocurrency while misappropriating over $4 billion in consumers’ assets. Under similar allegations, the SEC also filed a lawsuit against the company. While Celsius is cooperating with regulators, Mashinsky pleaded not guilty to charges of misleading customers and inflating the CEL token.
Europe’s first spot Bitcoin ETF eyes 2023 debut after year-long delay
Europe’s first spot Bitcoin exchange-traded fund (ETF) is set to debut later this year after a long delay. The Bitcoin ETF, created by London-based Jacobi Asset Management, was set to debut in July 2022 but was postponed due to market conditions. The asset manager now sees a gradual shift in demand compared with 2022. A related development also took place in Argentina this week, as the nation welcomed its first Bitcoin futures contract. According to Matba Rofex, the trading platform behind the investment vehicle, it is the first Bitcoin futures contract in Latin America.
Binance has reportedly laid off hundreds of employees in recent weeks. According to former employees, cuts were global and customer service workers were heavily affected, particularly in India. Including this week’s layoffs, over 1,000 employees have lost their jobs at the exchange. Before the slash, Binance’s global headcount was estimated at 8,000. The reorganization could cost Binance more than a third of its staff. The crypto exchange announced the 20% reduction in staff on May 31, claiming it was not downsizing but reallocating resources amid the ongoing crackdown in the United States. Binance’s most enduring challenge is reportedly an ongoing investigation of its activities and executives by the U.S. Justice Department.
'Multichain was a big blow', says Andre Cronje as Fantom TVL slumps
Fantom's TVL dropped from over $364 million in early May to about $70 million on July 14. At its peak in 2022, Fantom's TVL topped $7.5 billion.
Ron DeSantis vows to ban CDBCs in the US if elected president
Speaking at the Family Leadership Summit on July 14, DeSantis promised to ban CBDCs in the United States if he is elected president.
Project roadmap or token price — Which is most important?
In the latest episode of Market Talks, show host and Cointelegraph head of markets Ray Salmond sat down with Polkadot ambassador and content creator KryptosChain to discuss the current state of the crypto market and drastic changes taking place in the Polkadot ecosystem.
According to KryptosChain, the crypto market is possibly rounding the last corner of the bear market, and across the space, sentiment and money flow are steadily beginning to improve.
“Overall, I do think the market sentiment right now is hype-driven, but hopefully, we can change that with enterprise adoption and through the eventual approval of a spot Bitcoin ETF”
He added that, “In my opinion, I think the Bitcoin halving next year will be the main driver for the start of a new bull market, because of its history, and people base the markets’ performance on the history and psychology around it. I think 2024, toward the end — maybe summer or maybe autumn — is when we’re going to see some big activity.”
When asked whether investors should believe in projects based on the team’s goals and aspirations, or simply the price of the token, KryptosChain suggested that:
Project roadmap or token price — Which is most important?
Content creator KryptosChain explains why a project’s roadmap and token price are important to its success, as well as the upgrades to the Polkadot ecosystem that excite him most.
Binance customers represented by entity, citing inadequate representation
Eeon seeks compensation from both Binance and the US SEC, equivalent to 20% of the daily value of withheld funds per customer, totaling $1000 per day.
Binance customers represented by entity, citing inadequate representation
Eeon seeks compensation from both Binance and the US SEC, equivalent to 20% of the daily value of withheld funds per customer, totaling $1000 per day.
Ark Invest sells more Coinbase shares, eyes Meta platforms, Robinhood
Cathie Wood, the Bitcoin advocate, is actively investing in Meta Platforms (META) and Robinhood Markets (HOOD) shares.
5 peer-to-peer (P2P) lending platforms for borrowers and lenders
Discover five platforms — Aave, Compound, MakerDAO, dYdX and Fulcrum — that are transforming lending and borrowing through decentralization.
SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review
The SEC’s acknowledgment indicates the commencement of the official review process for BlackRock’s ETF proposal.
SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review
The SEC’s acknowledgment indicates the commencement of the official review process for BlackRock’s ETF proposal.
Allowing Coinbase to go public was not a 'blessing' of the business: SEC
The SEC argued that just because it approves an S-1 filing from a company, does not mean the firm is not operating, or will not operate in “violation of the law.”
It’s time for the SEC to settle with Coinbase and Ripple
The Securities and Exchange Commission should recognize it’s time to settle its cases against Coinbase and Ripple Labs.
Coinbase pauses staking services in four US states following regulators' orders
According to the U.S. crypto exchange, only regulators’ actions in California, New Jersey, South Carolina, and Wisconsin require the pause in staking additional assets.
Token hoarders defeat the purpose of most DAOs: Study
The study also showed that decentralized organizations work best when they’re built around a tight-knit group of focused participants.