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- 🚨 How Will the SEC’s Revised Complaint Against Binance Impact the Crypto Market?
🚨 How Will the SEC’s Revised Complaint Against Binance Impact the Crypto Market?
CoinGape Media
September 13, 2024
News
US SEC amends Binance lawsuit regarding "crypto asset securities" Ripple CLO Stuart Alderoty and Coinbase CLO Paul Grewal proclaims win.
In the latest development in the U.S. SEC lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao, the government agency requested the court to amend its complaint. The filing came in response to a district court order denying crypto exchange Kraken’s motion to dismiss in SEC v. Payward case. Ripple CLO Stuart Alderoty reacts as the agency regrets using “crypto asset securities” in cases and agrees that 10 tokens are not securities in themselves.
CFTC has secured an administrative stay on underlying order in its case against Kalshi, leading to the platform halting election bets.
The US Commodity Futures Trading Commission (CFTC) has secured an administrative stay on the underlying order in its case against Kalshi, leading to the prediction market halting its US election trading less than 24 hours after it went live. This development comes as crypto natives continue to take a keen interest in the US presidential elections, which analysts say could significantly impact Bitcoin and other cryptocurrencies.
MicroStrategy has acquired 18,300 BTC worth $1.11 billion. Michael Saylor says net BTC holding rises to 244,800 BTC worth $9.45 billion.
The business intelligence company MicroStrategy on Friday said it has acquired 18,300 BTC worth $1.11 billion, according to a filing with the US SEC. The company’s net BTC holding has increased to 244,800 BTC worth $9.45 billion, revealed Michael Saylor, executive chairman of the firm. This is one of the largest Bitcoin purchases by the firm.
Markets
BTC and major altcoins fight market turbulence ahead of the looming FOMC. BEAM and QNT prices emerge as top gainers.
The crypto prices today have sparked a tidal wave of speculations among investors globally. Bitcoin (BTC) price encountered turbulence at the $58K level, whereas Ethereum (ETH), Solana (SOL), and XRP mimicked a volatile movement. However, Quant (QNT) and Beam emerged among the day’s top gainers.
Explore why the Ethereum price is struggling, including impacts from Metalpha's ETH sale, sluggish on-chain metrics, competition, L2 issues, and macroeconomic factors.
Ethereum price has been struggling with its price despite most of the crypto market managing losses. ETH price dropped 40% between May and August despite a spot Ethereum ETF launching in June. Adding to this challenge, Metalpha’s $90M ETH sale has further pressured the price. This ongoing weakness suggests there may be deeper underlying issues affecting Ethereum. Should investors be concerned about the future of the Ethereum network and its underlying asset?
Historical trends shows that the Bitcoin price could surge throughout the fourth quarter of this year and peak by year-end 2025.
Historical trends have always been used to analyze Bitcoin price and provide insights into the crypto’s future trajectory. Although these trends don’t always play out the same way, they tend to rhyme and give a pattern, indicating what to expect from the leading crypto. In line with this, there are certain things to expect from BTC heading into the fourth quarter of this year and 2025.