News

⚖️ Ripple CLO Backs Kraken in SEC Lawsuit “Bad News for the SEC”

Ripple CLO Stuart Alderoty backed Kraken in the SEC lawsuit stating the exchange's use of crypto tokens is not securities law violation.

Ripple CLO Stuart Alderoty has come out openly defending crypto exchange Kraken in the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) over securities law violations. On Friday, US District Judge William H. Orrick denied Kraken’s appeal to dismiss the SEC lawsuit while asking the exchange to reply to the “complaint” within 20 days.

🤖 Cardano CEO Mulls Algorand Partnership to Build Decentralized AI

Cardano CEO Charles Hoskinson proposed Algorand to become their partner chain and work on decentralized AI. Algorand CTO shows interest.

In the latest development, Cardano CEO Charles Hoskinson shared his views on the power of the Algorand blockchain technology and the possibilities of partnering with them on decentralized artificial intelligence (AI) projects. Such a partnership can unlock new opportunities for both players in the rapidly evolving AI industry.

⚠️ Mt Gox Risks To Bitcoin Crash Plunges 75%: Arkham

Bitcoin crash risk due to Mt Gox repayment has dropped nearly 75% after it distributed 109K BTC worth $6.6 billion, per Arkham Intelligence.

Bitcoin crash risks due to Mt Gox repayment have now dropped to almost 75%, on-chain analytics platform Arkham Intelligence stated on Saturday. Institutional and retail investors offloaded Bitcoin holdings on fears of a huge market crash as Mt Gox Trustee started BTC repayment in July this year.

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Markets

🚀 Crypto Market Rallies as Bitcoin Price, Altcoins Surge Following Fed Rate Cut Signal

Bitcoin's price surge ignites broader crypto market rally after Fed Chair Jerome Powell signals potential rate cuts. Altcoin rally soon.

Following the Jackson Hole meeting on Friday, Fed chair Jerome Powell clearly hinted towards the central bank’s pivot and upcoming interest rate cuts. Along with Wall Street, the announcement sent the crypto market rallying adding over $110 billion to investors’ wealth. Also, the Bitcoin price made strong gains and is eyeing a move toward $70,000 by the weekend with altcoins eyeing similar gains.

📊 Cryptocurrency Prices Today Aug 24: BTC Breaks $64K, Popcat Leads Market Rally

Cryptocurrency prices today surged, led by Bitcoin and Ethereum, while meme coins like Popcat also saw significant gains.

The cryptocurrency prices today have continued the latest bullish trend, igniting optimistic sentiment among investors. Bitcoin (BTC) price broke above the $64,000 mark on August 24. Whilst, Ethereum (ETH), Solana (SOL), Cardano (ADA) and Ripple’s XRP also gained significantly. Simultaneously, Popcat (POPCAT) and Pepe Coin (PEPE) emerged among the day’s top crypto gainers.

Meanwhile, the global crypto market cap surged 4.21% to $2.25 trillion in the last 24 hours. Furthermore, the total crypto market volume also surged significantly. So, let’s take a closer look at some of the top top crypto prices today.

📈 Bitcoin ETFs Register Record Weekly Inflows, Signal Bullish Shift

Bitcoin ETFs saw a record $506M in inflows last week, with major contributions from BlackRock as BTC price rose 5% to $64K in the last day.

Bitcoin exchange-traded funds (ETFs) have recorded substantial inflows, signalling a potential bullish shift in the cryptocurrency market. According to recent data, the United States Spot ETFs saw a rise in investments, with a continuous inflow streak throughout the past week. This trend, totalling $506 million with no outflow day, underscores growing investor confidence in the crypto.