$XRP Soars After SEC Victory And More

The most exciting news in the industry this week has been Ripple’s partial win in the SEC case. Experts are opining that it could shake the market out of its rut. Let’s find out more. 

Bitcoin

Judge Analise Torres of the Southern District of New York handed a partial win over to Ripple Labs after its three-year-long battle with the SEC.

Bitcoin miners may face significant challenges due to the upcoming halving event, according to a new report by analysts from banking and finance firm JP Morgan.

Europe’s highly anticipated and long-delayed spot Bitcoin ETF is finally set to debut later this year amidst huge anticipation surrounding its imminent arrival.

The US Department of Justice is finally moving the BTC reserves it seized from the Silk Road, the notorious online marketplace predominantly used for illicit activities.

Vanguard Group, which manages $7.2 trillion in assets, has significantly ramped up its investments in the bitcoin mining sector, with its total stake now exceeding $560 million.

The UK’s FCA has shut down 26 cryptocurrency ATMs this year following a coordinated investigation with other law enforcement agencies.

Standard Chartered Bank has presented an optimistic forecast for Bitcoin, suggesting that the leading cryptocurrency could touch the $50,000 milestone by the end of 2021.

Satoshis are now being given out as rewards on Satlantis, a unique Bitcoin-themed Minecraft server. 

Democratic presidential candidate Robert F. Kennedy Jr had recently stated that he has not invested in Bitcoin, even though financial records prove otherwise. 

Ethereum

The transactions per second on the Etheruem blockchain will receive a significant boost now that Starknet’s Quantum Leap upgrade has been deployed on the Ethereum mainnet. 

The Aave community members will be voting on whether to finally deploy gho ($GHO) on the Ethereum chain.

DeFi protocol, Rodeo Finance, lost $1.53 million in Ethereum due to a code vulnerability exploitation in its Oracle.

ConsenSys has announced the launch of its layer-2 network Linea, as the Ethereum ecosystem welcomed yet another scaling solution. 

DeFi

20-year-old Argentinian Federico Jaime has publicly claimed responsibility for the $200 million Euler Finance exploit and is now under arrest in a Paris prison.

Kain Warwick, the founder of the Synthetix derivatives protocol, has introduced Infinex, a new decentralized perpetuals exchange.

Uniswap users can now start swapping their Avalanche tokens on the Uniswap website, as the decentralized exchange has now launched on the Avalanche network. 

DeFi platform Arcadia Finance has reportedly been the victim of an exploit which allowed hackers to drain roughly $455,000.

Altcoins

The pronouncement by the SDNY judge that XRP can only be partially classed as a security led to a massive market surge. 

Polygon, the prominent Ethereum layer 2 scaling solution, is making strides towards a significant upgrade, changing its token from $MATIC to $POL. 

Technology

Polkadot’s founder, Gavin Wood, has proposed a major shift in how the blockchain network allocates resources.

Coinbase has launched an encrypted messaging service on its self-custodial wallet app, using the open-source Web3 messaging network of Texas-based startup XMTP. 

Business

Indonesia’s Futures and Commodity Trading Regulatory Agency will launch a national cryptocurrency exchange this month.

Court documents have revealed that Zac Prince, CEO of bankrupt crypto lending firm BlockFi, ignored warnings from the company’s risk management team regarding exposure to FTX and Alameda Research. 

After a significant downturn in the crypto market, it appears that in the first half of 2023, the venture investment market, much like the price of Bitcoin, has found its bottom. 

Sam Altman’s Worldcoin has surpassed 2 million sign-ups for its World ID program in half the time it took to reach the first million sign-ups. 

Failed cryptocurrency exchange FTX recently launched its claims portal, allowing users from around the world to file a claim. 

Crypto data firm Arkham Intelligence is under fire after privacy-conscious users discovered that the firm has been irresponsible about user data. 

Regulation

Ripple’s XRP skyrocketed by around 70% in the 24 hours after its landmark partial win over the SEC. 

Australian crypto investment firm, Monochrome Asset Management is working to introduce spot Bitcoin ETF on the Australian Securities Exchange.

Coinbase has paused its staking operations in California, New Jersey, South Carolina, and Wisconsin as it continues discussions with their respective regulators.

Alex Mashinsky, the former CEO of cryptocurrency lending platform Celsius Network, appeared in federal court last week, pleading not guilty to numerous charges, including securities fraud, commodities fraud, and wire fraud.

Ripple CEO Brad Garlinghouse recently made statements which predicted a long wait before the SEC can file an appeal following Judge Torres’ ruling on the Ripple case.

NFT

Starbucks’ Web3 loyalty program Odyssey has announced a collaboration with the Aku NFT collection. 

Security

Blockchain security and analytics firm Chainalysis has suggested that the multimillion-dollar exploit of the Multichain Protocol could be indicative of a rug pull. 

Approval management platform Revoke introduced a new feature to combat a new crypto scam after users reported receiving “fake approval” requests that led to exuberant transaction fees.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.