Top Stories Today: The Must-Know Updates

Author

CoinGape Media
August 10, 2024

News

Ripple alerts users to fraud following $125M SEC fine, fake executive profiles, and RLUSD stablecoin tests.

Ripple has alerted its community about increased fraudulent activities. According to the announcement, these XRP scams have preceded the order to pay a $125 million fine for violating securities laws in 1,278 institutional sale transactions. Consequently, since the ruling, scammers have been exploiting the situation, leading Ripple to warn its users.

Ripple CLO Stuart Alderoty urged Kamala Harris to act against the SEC’s crypto crackdown after the VP's campaign engaged in talks of a 'crypto reset'.

Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has issued a strong call for action from Vice President Kamala Harris. He urged the VP to end what he describes as the U.S. Securities and Exchange Commission’s (SEC) “misguided war on crypto.” This statement comes in the wake of a significant court ruling in the ongoing legal battle between Ripple and the SEC.

Tesla & SpaceX CEO Elon Musk has recently drawn attention to Google and OpenAI's bias against Donald Trump amid the ongoing United States presidential elections.

The American entrepreneur and billionaire Elon Musk has once again sparked nationwide discussions, spotlighting Google and OpenAI’s bias in the ongoing U.S. presidential campaigns. Through a couple of posts on X today, the Tesla & SpaceX CEO revealed how the tech giants streamlined and manipulated election information for users.

The above-mentioned chronicle has added to global concerns surrounding AI threats in elections. Meanwhile, the Donald Trump vs. Kamala Harris saga saw tides favor the Democratic Party member in recent developments.

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Markets

Bitcoin slipped to the $60K price mark amid ETF outflows. ETH, SOL, & XRP mainly followed with a waning movement amid increased whale dumps.

Bitcoin’s (BTC) price encountered significant market volatility, resting at the $60K price mark. Ethereum (ETH), Solana (SOL), and XRP prices followed the broader market trend, trading in the red territory.

The global crypto market cap witnessed a 1.84% decline in value to $2.11 trillion. Further, the total crypto market volume dipped 23.36% to $70.18 billion.

Here’s a brief overview of some of the highest-ranking cryptocurrencies by market cap and their price run today, August 10.

🔮 XRP Price Prediction: Why Ripple Is Not A Good Buy Here

"Ripple (XRP) price faces correction after 30% rally, on-chain data suggests bearish outlook, with potential 10% drop to $0.560 support range

Ripple (XRP) price rallied 30% last week, reacting to the favorable conclusion to the SEC vs. Ripple lawsuit. While the upswing was impressive, it failed to produce a higher high that caused whale investors to offload their holdings. As a result of this on-chain movement, XRP value could face a major correction in the coming days.

​​Unravel how the recent market crash has impacted Solana and Ethereum. Explore expert insights on investment dynamics, market recovery, and regulatory outlooks.

Crypto experts at the UnChained crypto podcast, Haseeb Qureshi, Managing Partner at Dragonfly, and Tom Schmidt, General Partner at Dragonfly, along with Robert Leshner, CEO & Co-founder of Superstate, and Tarun Chitra, Managing Partner at Robot Ventures, recently weighed in on the market crash that has intensified the debate over Solana and Ethereum. Their analysis focused on the performance and investment potential of both networks.