Grayscale, crypto asset management firm, is considering 39 cryptocurrencies for future investment products. These include top altcoins Dogecoin (DOGE), BNB, Hedera (HBAR), Kaspa (KAS), Aptos (APT), and more. Traders reacted immediately to the news bringing an upside momentum in the crypto under consideration.

Grayscale Announces Crypto Under Consideration for Investment Products

Leading crypto asset manager Grayscale Investments disclosed diverse crypto assets under consideration for future investment products, according to official blog on January 9.

The company has announced top 20 crypto such as BNB, DOGE, TRX, and TON among the list of 39 crypto. Other digital assets from innovative and trending projects are KAS, APT, ARB, TIA, HBAR, MNT, SEI, S, STRK, AERO, ENA, INJ, JUP, ONDO, PENDLE, RUNE, IMX, AKT, FET, AR, EIGEN, HNT, JTO, PYTH, and WLD.

Moreover, Grayscale is also considering new assets such as Hyperliquid (HYPE), Ai16z, Virtual Protocol (VIRTUAL), FLOCK, GRASS, Hyperbolic, Prime Intellect, Sentient, Space and Time, and Story Protocol.

“Assets Under Consideration lists digital assets not currently included in a Grayscale investment product but identified by our team as possible candidates for inclusion in a future product.”

DOGE, HBAR, AI16Z and Other Crypto Prices Jump

ai16z price leads the upside momentum among the abovementioned crypto. It climbed 15% in the past 24 hours, with the price currently trading at $1.62. The 24-hour low and high are $1.28 and $1.72, respectively. Furthermore, the trading volume has increased by 21% in the last 24 hours, indicating a rise in interest among traders.

Dogecoin price has surged 5% after the announcement by Grayscale. DOGE price trades at $0.3339, recovering in support from whales. However, the trading volumes remain low amid crypto options expiry and jobs data due later today.

Meanwhile, HBAR price has jumped over 3% in the last 24 hours, with a slight profit booking seen in the last few hours. The 24-hour low and high are $0.2634 and $0.285, trading with low volume in spot exchanges. The community also expects approval of HBAR ETF by the US SEC under incoming Chairman Paul Atkins.

The post Grayscale Considers DOGE, HBAR, AI16Z Among 39 Crypto for Investment Products appeared first on coinpress.

XRP Lawsuit: In the latest development in the In re Ripple Labs Inc Litigation, a federal judge has granted an order related to an administrative motion to file documents under seal. Moreover, in relation to defendant Ripple’s summary judgment motion, the judge agrees to seal records of confidential, sensitive, and personally identifiable information as the case now proceeds in a US appeals court.

Judge Issues Order in Line With Ripple in XRP Lawsuit

In the latest court filing in the XRP lawsuit, Senior District Judge Phyllis J. Hamilton granted the parties’ motion to prevent public access to some confidential documents in the Ripple case.

The court agreed with Ripple and CEO Brad Garlinghouse’s requests, which meets the Ninth Circuit’s “compelling reasons” standard. The “compelling reasons” is a legal standard applied to decide whether the reasons for sealing documents outweigh the public’s interest in disclosure.

Ripple and CEO Brad Garlinghose requested sealing eight exhibits submitted in support of motion for summary judgment in the XRP lawsuit. The defendants also sought fifty-six exhibits in support of plaintiff’s opposition to defendants’ motion for summary judgment. As coinpress reported earlier, the court ruled in favor of Ripple in the summary judgment.

“The previous motions to seal filed by the parties (Dkt. 338, 340, 342, 343, 347, 349, 356, 365, 366, 367, 368, 369, 370, 371, 373, 379, 380, 381, 382, 387, and 389) are terminated as moot,” as per the court filing.

Similarly, plaintiff’s requested the district court to seal portions of exhibits 29, 30, and 33 submitted in support of defendants Ripple and Brad Garlinghouse’s motion for summary judgment. As well as, exhibit 6 in support of the defendants’ motion to exclude the testimony of Steven P. Feinstein, based on the presence of confidential, sensitive, and personally identifiable information in the XRP lawsuit.

The court grants the plaintiff’s motion to seal, concluding that the narrowed redactions sought by plaintiff do meet the Ninth Circuit Court of Appeal’s “compelling reasons” standard.

US SEC Prepares to File Principal Brief in Ripple Case

Meanwhile, the XRP community awaits key U.S. SEC’s principal brief related to its appeals in SEC v. Ripple. However, lawyers such as Jeremy Hogan and ex-SEC Marc Fagel believe pro-crypto Paul Atkins under the Trump administration may decide not to pursue the appeal further.

coinpress has glanced at what could be expected from the opening brief by the U.S. SEC, as per Form C and outgoing SEC Chair Gary Gensler’s stance on crypto.

The post XRP Lawsuit: Judge Approves Ripple and Brad Garlinghouse’s Request appeared first on coinpress.

Ahead of the key U.S. SEC’s deadline to file its principal brief regarding appeals in the XRP case, Gary Gensler reiterates anti-crypto statements such as “crypto is rife with bad actors.” He says most crypto projects run on non-compliance and raise money from the public, but cryptocurrencies other than Bitcoin and Ethereum will not survive.

SEC Chair Gary Gensler Says Crypto Projects Will Fail

In an exclusive interview with David Gura on Bloomberg Markets, outgoing SEC Chair Gary Gensler points out the progress the agency has made during his tenure. Gensler will step down on January 20 and Donald Trump’s pro-crypto Paul Atkins to take over the responsibilities.

In response to enforcement actions against crypto companies, he said the SEC did well to address concerns that his predecessors, including Jay Clayton, started. In fact, Jay Clayton brought the case against Ripple on securities violations in XRP sales, as well as, actions against co-founder Chris Larsen and CEO Brad Garlinghouse.

Gensler believes the crypto is “rife with bad actors.” He distinguished crypto into two — Bitcoin and “everything else.” He slammed crypto projects for raising money from the public in hopes of better future returns. Furthermore, he asserts that the crypto field works on sentiments only and not fundamentals.

He predicts that these thousands of crypto projects “will not survive.” Moreover, he also raises concerns about pump and dump schemes. Gensler referred to Sam Bankman-Fried, CZ, and Do Kwon as “notorious” and blamed them for causing investors to lose billions of dollars.

But, SEC Lost Legal Fight in XRP Case

Gary Gensler claims the crypto industry has built up on non-compliance. He argues the crypto industry needs tougher oversight as it continues to grow despite the high-profile enforcement cases against crypto firms such as Ripple, Binance and Coinbase. He said:

“I’m proud of what we have done. Building on what Chair Clayton and others had done previously.”

However, he believes there is still work to be done about regulating altcoins and intermediaries in the crypto market.

On the contrary, federal judges and crypto industry leaders such as Ripple CEO Brad Garlinghouse criticized Gensler and the SEC for overreach. XRP has received legal clarity from the court that it’s not a security in itself. The court rulings in the case are mostly seen as a win for Ripple and XRP holders.

Gensler is to make his last mark in the XRP case as the SEC to file its opening brief regarding appeals in SEC v Ripple by January 15.

The post XRP Case News: Why Gary Gensler Believes Most Crypto Projects Are Set to Fail? appeared first on coinpress.

The U.S. Securities and Exchange Commission (SEC) will file its opening brief regarding appeals in Ripple lawsuit by January 15. The government agency did not challenge Judge Analisa Torres’ decision that XRP is not a security in itself, it appealed almost every argument it lost, including Ripple’s XRP sales on crypto exchanges and personal sales by its executives Brad Garlinghouse and Chris Larsen.

US SEC Under Gary Gensler to File Principal Brief on Jan 15

With SEC Chair Gary Gensler to step down on January 20 and lawyers predicting a potential settlement, some XRP holders questioned whether the agency to file a principal brief in Ripple case.

Experts closely following the SEC v Ripple Labs lawsuit, attorney Jeremy Hogan and former SEC securities lawyer Marc Fagel confirmed the agency will follow the court’s order.

However, they also believe that the Trump administration and incoming SEC Chair Paul Atkins may decide not to pursue the appeal further. Hogan anticipated a last-minute filing and settlement later with Ripple paying $125 million in civil penalties as per an earlier order by Judge Torres. He believes XRP lawsuit may end in April or May.

Challenge to XRP Programmatic Sales Ruling in Ripple Lawsuit

The SEC will argue against the July 13 ruling on XRP programmatic sales by Judge Torres, as per the Civil Appeal Pre-Argument Statement Form C filed. The agency will again claim these are unregistered securities transactions under the 1933 Securities Act.

In an X post on January 8, former SEC lawyer Marc Fagel said “The court agreed with the SEC that Ripple had violated the law, illegally raising over $700m in an unregistered securities offering.” However, he thinks the Ripple lawsuit will not proceed further under the crypto-friendly Trump administration.

XRP Secondary Sales by Ripple, Executives and Employees

Gensler’s SEC to present its arguments on secondary sales as Judge Analisa Torres’s ruling in Ripple Vs SEC lawsuit set didn’t exactly clear whether XRP is a security or commodity. This has further implications for Ripple and the crypto industry.

It’s also important to note that XRP was earlier referred to as “currency” by the U.S. DOJ and Treasury Dept’s FinCEN.

The SEC’s appeal language is mostly on secondary sales. This includes Ripple’s XRP sales on crypto exchanges, distribution to employees and others by the firm, and personal XRP sales by CEO Brad Garlinghouse and co-founder Chris Larsen.

Higher Penalty Than $125 Million and Disgorgement

The SEC will argue for a higher penalty than the $125 million and appeal on reconsidering disgorgement. Similar to its previous arguments such as the penalty is too low to serve as an effective deterrent, the SEC will revisit them.

However, Ripple CLO Stuart Alderoty criticized the SEC for bringing “failed arguments” and wasting taxpayers’ money. The SEC under Gensler failed to provide clarity, including how some digital assets are securities and others are not. Notably, Ripple has already made a strategic shift in its XRP ODL transactions as per an earlier order by Judge Torres

Former SEC lawyer James Farrell even said,

“Ripple was always a good case in 2d bc you have somewhat of a conflict between Rakoff (very well thought of on securities and no fan of SEC) and Torres. That’s why Failla skewed towards Terra / Rakoff.”

What’s Next After Opening Brief Related to Appeals?

Ripple executives’ dinner with President-elect Donald Trump has sparked hopes for good news for the company and its growth in the United States. Recently, Ripple CEO Brad Garlinghouse even pointed out that 75% of job openings are now US-based and the company has signed more US deals in the last six weeks.

Great dinner last night with @realDonaldTrump & @s_alderoty.

Strong start to 2025! pic.twitter.com/UjM6lahUG4

— Brad Garlinghouse (@bgarlinghouse) January 8, 2025

While Ripple’s victory in the Second Circuit Court could set a binding precedent for other crypto lawsuits, the parties may proceed with settlement or dismissal under incoming SEC Chair Paul Atkins.

The post SEC v. Ripple Lawsuit: What to Expect From US SEC Appeals Opening Brief appeared first on coinpress.

The second-largest crypto Ethereum saw a sharp selloff of more than 9% in the last 24 hours. ETH price tumbled to mid-November levels of $3,300 as traders took cues from robust US macroeconomic data, which shot down the Fed rate cut hopes.

Ethereum Price Led $700 Million in Net Crypto Liquidation

The broader crypto market and Bitcoin price saw major selloff, but ETH led the liquidation in the last 24 hours. Coinglass data reveals more than $152 million in ETH were liquidated, with $132 million in long positions. Whereas, BTC saw $128 million in liquidation.

The total crypto liquidation reaches $710 million in the last 24 hours. Notably, 237,476 traders were liquidated and the largest liquidation happened on leading crypto exchange Binance as someone sold ETH valued at $17.74 million. This is one of the largest in Ethereum history.

Whales and Institutions Offload ETH Holdings

Multiple ETH sell transactions were recorded over the last 24 hours as whales and institutional investors pared their holdings. Ethereum price fell after investors lost confidence about further rally as JOLTS job openings and ISM Services PMI data showed a strong US economy. This will cause the U.S. Federal Reserve to delay its rate cuts this year.

Whale Alert highlighted a 40,000 ETH transfer worth $140.44 million from Arbitrum to Binance. In addition, 18,172 ETH valued at $66 million transferred from Cumberland to Coinbase Institutional.

WisdomTree also deposited 11,733 ETH to Coinbase just before the crypto market crashed, reported Lookonchain.

Ethereum Foundation Makes First ETH Sale of 2025

The Ethereum Foundation just made its first ETH sale of the year. The foundation has transferred 100 ETH, valued at $336K, for 329,463 DAI. The foundation has sold nearly $12.96 million in ETH in 2024, which has limited the upside trajectory for Ethereum price.

Spot Ethereum ETFs Record Outflow

As institutional investors lost confidence, spot Ethereum ETFs saw a net outflow of $86.8 million on Tuesday.  Farside Investors data shows outflows mainly came from Fidelity’s FETH, Grayscale’s ETHE and ETH mini exchange-traded fund. The ETF flow is considered an indicator of strength in an asset and investors keep an eye on it to know the current sentiment.

What’s Next for Ethereum Price

Ethereum price currently trades at $3,329 and there are no signs of recovery yet. Experts have given $5000 and $10000 price targets for this year.

ETH derivatives data shows that open interest has dropped 7%. ETH Futures OI 9.04 million are now valued at $30.33 billion. Whereas, Options OI has increased as traders rearrange calls and puts.

Analyst IncomeSharks revealed quick scalp trade on the lower time frame. He suggests looking for a bounce and then closing long. Meanwhile, another analyst Crypto Tony said “As long as we hold $3200 on the daily closure I remain in my long.”

The post How Did Ethereum Price Lose 9% of Its Value in Just 24 Hours? appeared first on coinpress.

Bhutan’s Gelephu Mindfulness City (GMC) on Wednesday announced its decision to broaden its crypto adoption plan. Bhutan’s new special administration region will hold Bitcoin (BTC), Ethereum (ETH), Binance’s BNB, and other digital assets in the city’s strategic reserves.

Bhutan Includes Bitcoin, Ethereum, and BNB in Strategic Reserves

Bhutan’s Gelephu Mindfulness City has revealed a plan to hold BTC, ETH, BNB and other digital assets in strategic reserves, according to a GMC official announcement on January 8.

“Located on the land bridge connecting the rapidly-growing economies of South Asia, GMC is uniquely positioned to serve the more than two billion people in the region, and one of its key economic focuses is on promoting and supporting the use of blockchain technology, in line with the SAR’s emphasis on innovation and pioneering of new technologies.”

As per the details, Bhutan’s new Special Administration Region intends to recognize digital assets such as Bitcoin (BTC), Ether (ETH) and BNB as part of its strategic reserves. It makes GMC one of the first jurisdictions to hold digital assets in strategic reserves.

Gelephu Mindfulness City (GMC) will buy digital assets with large market capitalizations and deep liquidity only. In addition, GMC will study other digital assets that are issued on stable and secure blockchains, supporting on-chain transaction monitoring.

Bhutan’s Gelephu Mindfulness City Pioneers Adoption of BTC, ETH and BNB and Other Digital Assets in City’s Strategic Reserves. https://t.co/O0sjlhiTDL pic.twitter.com/CfKVSUlcS1

— gmcbhutan (@gmcbhutan) January 8, 2025

Bhutan’s Focus on Bitcoin Mining

The decision comes as major news to enhance Bhutan’s economic resilience and boost involvement in Bitcoin mining. The Special Administration Region confirmed to purchase and sell crypto in reserves with minimal price impact.

Notably, the government of Bhutan had sold Bitcoin worth millions in the last two months as Bitcoin price surpassed $100K. As per Arkham Intelligence, the government still holds $1.11 billion in BTC.

Crypto Community Reactions

The crypto community reacted to Bhutan’s intention to further dive into crypto. Besides, the country is establishing the legal and regulatory framework for companies seeking to offer financial services involving digital assets.

Moreover, GMC plans a high-level meeting with leaders from across the world to discuss crypto adoption as part of strategic reserves. Also, the plan is to set up an international advisory panel on digital assets for GMC.

Binance co-founders Changpeng “CZ” Zhao and Yi He reacted to the crypto adoption plan, while BNB Chain claims it is a “major milestone for blockchain adoption.”

Today, we are all Bhutanese. https://t.co/YUyvsHPbSJ

— Yi He (@heyibinance) January 8, 2025

Bitcoin, ETH, and BNB prices saw an upside momentum after the news, a slight recovery from the massive crypto market liquidations recently.

The post Breaking: Bhutan To Hold Bitcoin, ETH, BNB, & Other Crypto In Strategic Reserves appeared first on coinpress.

BlackRock’s iShares Bitcoin ETF (IBIT) recorded over $597 million in inflow on Tuesday. The BlackRock Bitcoin ETF saves the day for the bleeding crypto market after investors turned cautious with strong US JOLTS job openings and ISM Services PMI data.

The spot Bitcoin ETF in the United States saw a net inflow of $53.46. Bitcoin ETFs by Fidelity, Bitwise, Ark 21Shares, Franklin Templeton, and Grayscale recorded outflows.

BlackRock Bitcoin ETF Saw Inflow Despite Crypto Market Crash

BlackRock’s iShares Bitcoin ETF (IBIT) purchased 6,078 BTC worth $208.7 on January 7, while miners only mined 450 new BTCs. IBIT recorded an inflow of $597.18 million, as per Trader T data.

This makes the third consecutive inflow into IBIT despite a major selloff in the crypto market. Notably, US Bitcoin ETF saw an inflow of $978.6 million on Monday, sparking optimism as the flagship crypto soared past the $102K mark.

Meanwhile, Fidelity’s FBTC, Bitwise’s BITB, and Ark Invest’s ARKB saw outflow of $86.29 million, $113.85 million, and $212.55 million, respectively. Also, Franklin EZBC saw a $5.58 million in outflow.

Grayscale’s GBTC also witnessed an outflow of $125.45 million. Flows were zero for Invesco, Valkyrie, VanEck, and Grayscale Mini.

According to Farside Investors, the total net inflow for Bitcoin spot ETFs reached $52.4 million. The iShares Bitcoin Trust by BlackRock saw a net inflow of $596.1 million. Whereas, other ETFs experienced varying degrees of outflow.

Bitcoin and Crypto Market Crash On Macro Concerns

According to the U.S. Bureau of Labor Statistics, the JOLTS jobs openings increased by 259,000 to 8,098 million in November 2024, Also, ISM Services PMI came in higher than expected, which shows the resilience of the U.S. economy currently. This caused Bitcoin price to crash by more than 5%.

In fact, the US dollar index (DXY) holds its advance above 108.50 today, after a two-day low move that caused a recovery in Bitcoin price. Also, the 10-year US Treasury yield increased to a 35-week high of 4.68%. The strong US economic data reduced expectations for further rate cuts by the Federal Reserve.

Whereas, BTC price continues to fall despite better performance by BlackRock Bitcoin ETF. The price currently trades at $96,259. The 24-hour low and high are $96,132 and $102,022, respectively. Furthermore, the trading volume has decreased by 23% in the last 24 hours.

The post Breaking: BlackRock Bitcoin ETF (IBIT) Sees $597M In Inflow, Saves the Day appeared first on coinpress.

Bitcoin bulls lost bullish momentum in the crypto market again as BTC price fell below $97.5K, from an intraday high of $102,712. Traders anticipate an overall bullish outlook at the start of 2025 as the crypto-friendly Donald Trump administration takes control on January 20. However, the markets will brace temporarily for liquidity concerns and volatility risks amid jobs data and upcoming FOMC minutes release.

Bitcoin Loses Earlier Gains After Jobs Data

The JOLTS jobs openings increased by 259,000 to 8.1 million for November 2024, according to the U.S. Bureau of Labor Statistics. This indicates the labor market remains strong and the Fed rate cuts may be limited in 2025. JOLTS jobs data has increased for two consecutive months now. The job openings have increased in professional and business services, finance and insurance, and private educational services.

Meanwhile, ISM Services PMI shows the US economy remains strong. The resilience of the US ahead of Trump’s inauguration day fueled concerns about market conditions. In fact, US stocks declined on Tuesday, ending a two-day rally, as fresh economic data fueled speculation that the Federal Reserve may keep rates steady this month despite rising inflation.

This caused the US dollar index (DXY) to rebound sharply over 108.50, after a two-day low move that caused a recovery in Bitcoin price. Also, the 10-year Treasury yield increased to a 35-week high of 4.68%.

BTC Price Falls 5% Within An Hour

BTC price fell 5% in the past 24 hours, with the price currently trading at $96,500. The 24-hour low and high are $96,132 and $102,712, respectively. Furthermore, the trading volume has increased by 27% in the last 24 hours, indicating a decline in interest among traders. If weak sentiment continues, the price could fall to 50-EMA at $94,500 and in the worst case to $92,700.

Bitcoin price has skyrocketed over 10% in a week and may break above the previous ATH on bullish macroeconomic and technical factors. The upside move is supported by inflows into the spot Bitcoin ETFs, indicating institutional interest returning.

According to K33 Research, Bitcoin and crypto prices jumped after the strongest 2-day flow to ETFs since mid-November. Moreover, BTC open interest inches higher, recording a solid 7-day streak of positive daily returns.

The price of Bitcoin has jumped back to the $100,000 mark, a sign that shows the Coinbase Premium Index is back to positive.

Bitcoin Price Hits Over $102K On Donald Trump’s Inauguration

Bitcoin’s recent drop reflects a seasonal lull during the Christmas holiday period. These trends are now reversing to create a bullish momentum in the global markets, according to Matrixport.

Moreover, investors expect the upside momentum to sustain as Donald Trump enters the White House on January 20. His pro-crypto administration works on providing crypto regulatory clarity in the country, creating a framework that other countries may adopt. Trump’s strategic Bitcoin reserve plans saw massive adoption from other countries and states.

Meanwhile, BitMEX co-founder Arthur Hayes has predicted a severe correction in Bitcoin and the crypto market in mid-March. His prediction came based on declining US dollar liquidity. While the Reverse Repo Facility (RRP) and the US Treasury’s General Account (TGA) will maintain bullish momentum, it may not continue further after March.

The post Why Bitcoin Price Is Dropping Suddenly After Recovery to $102K? appeared first on coinpress.

Lawyers closely following the XRP lawsuit have confirmed that the U.S. Securities and Exchange Commission (SEC) under outgoing chairman Gary Gensler will file its appeals opening brief. Experts believe it could be a last-minute filing by Gensler to create headwinds for Ripple similar to Jay Clayton, former SEC chair who brought the case against Ripple and its executives before his exit.

Pro-XRP Lawyer Says US SEC Will File Appeals Opening Brief

Jeremy Hogan, Partner at Hogan & Hogan, responded to queries from XRP army about whether the US SEC will file its opening brief in the Ripple vs SEC appeal, as per an X post on January 7.

Hogan said, “Don’t be surprised when the SEC’s brief IS filed timely and don’t be dismayed.” He highlighted that the agency is still under Gary Gensler. In fact, Gensler and chief litigation counsel Jorge Tenreiro indicated earlier that the legal battle may not shift drastically with a new SEC chair. Currently, the community expects a last-minute filing by the SEC.

He added that the January 15 filing has no impact on whether the case will be settled or dismissed by the Trump administration. However, it seems most likely scenario under incoming SEC Chair Paul Atkins, who may decide not to pursue the appeal.

“An attorney is working hard on this brief as we speak, knowing that all his effort is probably for naught,” added Jeremy Hogan.

Reactions from Former SEC Lawyer

The post gets reactions from the community and former SEC lawyer Marc Fagel. He appreciated Hogan for clearing the doubts in the XRP community. The staff has no choice other than to draft and file the opening brief as ordered by the court, he added.

It is also important to note that the 2nd Circuit Court has already granted an extension order to the agency last year. The court also stated in the order that no more extension would be provided in the XRP lawsuit.

Ripple Vs SEC Case Settlement or Dismissal Hopes

As reported by coinpress Media, Jeremy Hogan earlier predicted a dismissal or settlement between Ripple and SEC under Trump administration and Paul Atkins. He expected a potential resolution of the lawsuit by April or May this year.

Meanwhile, Marc Fagel also claimed that a settlement in Ripple vs SEC lawsuit is likely as the Trump admin and Paul Atkins may decide not to pursue the appeal. The parties must settle and agree to proceed with Judge Torres’ order on Ripple to pay $125 million in penalty.

The post XRP Lawsuit: Lawyers Confirm Appeals Opening Brief by Gensler’s US SEC appeared first on coinpress.

The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches. A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.

Ex-SEC Lawyer Says Settlement in Ripple SEC Case Most Likely

Marc Fagel, a former SEC enforcement attorney, on January 6 posts explained to the crypto community that the government agency didn’t lose, but won in part and lost in part. This requires a settlement between parties as both Ripple and SEC appealed the part they lost.

“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million in penalty for $700 million in unregistered securities sales to institutional investors.

Marc Fagel asserts the odds of new SEC administration deciding not to pursue the appeal is higher, which will make parties settle Ripple SEC case on what the court ruled. However, he affirmed that the SEC under Gary Gensler will file appeal by January 15.

Pro-XRP Lawyer Expect May End Timeline for XRP Lawsuit

As reported first by coinpress Media, lawyer Jeremy Hogan has predicted an April or May timeline for the end of the Ripple SEC case. He added that the decision may not come before that as it takes a lot of time to get reports, memos, requisite SEC meetings and others.

Today, he again commented that Paul Atkins will definitely drop the appeal and settle with Ripple to end XRP lawsuit in 2025.

I definitely think that's the most likely scenario (with the Ripple case being a non-fraud/no investor's harmed case). Like most of these things, it's just the timing that is difficult to lock down – maybe April or May?

— Jeremy Hogan (@attorneyjeremy1) January 5, 2025

What’s Next Under Paul Atkins?

Experts and the crypto community believe the end of Ripple SEC case will boost the odds for XRP ETF approval. This may also trigger a rally in XRP price.

CEO Brad Garlinghouse in a post on Sunday criticized the SEC under Gary Gensler saying the actions “froze our business opportunities here at home for years.” He highlights that 75% of Ripple’s open job roles are now US-based and the company has signed new deals in the U.S. in the last six weeks.

“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again.”

Meanwhile, analysts expect XRP price to see another rally to double-digit figures, similar to a 400% rally after Trump’s re-election.

In short-term, XRP price to consolidate at the current range for weeks and then rally towards a new all-time high, as per analyst CrediBULL Crypto. “Currently trading at around where I closed my last long. We’ve taken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.

The post Ripple SEC Case: Ex-SEC Lawyer Affirms Settlement in XRP Lawsuit appeared first on coinpress.

The prospect of the XRP lawsuit has come to the fore with current SEC Chair Gary Gensler to depart and Paul Atkins on the row to take over under the pro-crypto Trump administration. Notably, crypto enthusiasts following the case expect an end to the suit in the coming weeks. A top lawyer closely following the Ripple vs SEC lawsuit development predicts the potential resolution of the case by April or May this year.

Pro-XRP Attorney Says XRP Lawsuit To Likely End By May

Donald Trump’s win in the US presidential election and nomination of pro-crypto Paul Atkins as US SEC Chair were seen as major advantages for Ripple and XRP. CEO Brad Garlinghouse expressed his intention to work with the new SEC, boosting developments and regulatory clarity. It also sparked anticipation for the likely dismissal or withdrawal of the XRP lawsuit appeal.

Interestingly, attorney Jeremy Hogan responded to a post on X about the odds of Ripple vs SEC case getting dismissed, settled or dropped by February. Hogan responded, “I’d say it’s possible but maybe unlikely.”

He added that the decision may not come earlier as it takes a lot of time to get reports together, memos, have the requisite SEC meetings, and others. Still, Hogan expects either dismissal or settlement in April or May.

I'd say it's possible but maybe unlikely. 40 days is not a lot of time to get reports together, memos, have the requisite SEC meetings, etc.. I'm going with April/May as a likely timeframe.

— Jeremy Hogan (@attorneyjeremy1) January 3, 2025

US SEC Preparing for Opening Brief in Ripple Case Appeal

Meanwhile, US SEC Chairman Gary Gensler and Chief Litigation Counsel Jorge Tenreiro to likely preparing to file an opening brief in the XRP lawsuit as the January 15 deadline approaches.

As coinpress reported, the SEC should be deliberating a last-minute filing related to appeals in Ripple Vs SEC case before pro-crypto Paul Atkins takes over. This could leave Ripple with challenges, while the XRP community awaits positive developments including XRP ETF launch and XRP price rally.

If the lawsuit gets dismissed, it will open doors for XPP ETF approval. The filings by several issuers including Bitwise, Canary Capital and 21Shares remained on the table for months. Moreover, XRP price will cross $10 as institutional and retail investors flock to invest in the asset with legal clarity.

XRP price jumped more than 1% in the past 24 hours, with the price currently trading at $2.45. The 24-hour low and high are $2.43 and $2.50, respectively. However, the trading volume has decreased by 15% in the last 24 hours, indicating a decline in interest among traders.

XRP price prediction by coinpress signals rally to $15 soon as Ripple CEO Brad Garlinghouse welcomes incoming pro-crypto US Congress.

The post XRP Lawsuit: Top Attorney Predicts Ripple Case End Timeline appeared first on coinpress.

The Ripple vs SEC lawsuit is in focus again as deliberations began on filing an opening brief before the January 15 deadline. Latest developments indicate that outgoing SEC Chair Gary Gensler is preparing for last-minute filing related to appeals before pro-crypto Paul Atkins takes over.

Some believe Gensler with SEC’s chief litigation counsel Jorge Tenreiro may create headwinds for Ripple, similar to former SEC Chairman Jay Clayton.

Last Minute Appeal in Ripple Vs SEC Lawsuit

The U.S. Securities and Exchange Commission (SEC) under Gary Gensler is likely deliberating to file its principal brief in the Ripple lawsuit. The 2nd Circuit Court of Appeals earlier extended the deadline to January 15 after a request by the securities agency.

Former SEC lawyers Marc Fagel and James Farrell cleared that the agency will continue its fight after an appeals-related opening brief in January. While the shift in the agency’s leadership may impact progress, but a decision to dismiss or withdraw the appeals in the lawsuit to affect the SEC more.

Besides, SEC’s chief litigation counsel Jorge Tenreiro, who has been deeply involved in Ripple lawsuit, to continue handling the case. It indicates that the legal battle may not shift drastically with a new SEC chair.

The regulator is set to present its arguments on secondary sales as Judge Analisa Torres’s ruling in Ripple Vs SEC lawsuit set didn’t exactly cleared the industry whether XRP is a security or commodity. This has further implications for Ripple and the crypto industry.

Notably, XRP was earlier referred to as “currency” by the U.S. DOJ and Treasury Dept’s FinCEN. And now, the SEC appealed the summary judgment on Ripple’s XRP sales through crypto exchanges, distribution to employees and others by the firm, and XRP sales by CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

Pro-XRP Lawyers Expect End of Lawsuit Under Paul Atkins

Gensler to depart on Donald Trump’s inauguration day on January 20, setting the stage for Paul Atkins to take over SEC Chairman responsibilities. Pro-XRP lawyers Jeremy Hogan, Fred Rispoli, and Bill Morgan indicate high odds of resolution of the Ripple vs SEC lawsuit under pro-crypto Atkins.

Moreover, lawyers claimed Paul Atkins to work on providing clarity on crypto regulations, which remained unclear under Gensler. This could potentially lead to the end of Ripple lawsuit not otherwise. Ripple CLO Stuart Alderoty urged to “cleanse the lingering stain of Hinman from the agency” and restore trust in the agency.

Odds of XRP ETF and Price Rally Ahead

Ripple executives have earlier said that SEC continued its “failed arguments” in crypto cases as Gensler reaffirmed that crypto has no intrinsic value. Moreover, XRP ETF launch is more likely under Paul Atkins as the Trump administration is set to push for crypto regulations.

Attorney Jeremy Hogan predicts April or May as a likely timeline for the Ripple vs SEC lawsuit’s end. Moreover, he expects dismissal early, but “I’d say it’s possible but maybe unlikely.”

Analysts have been overall bullish on XRP price rally amid several developments including RLUSD launch. As per popular analyst Ali Martinez, XRP price is currently consolidating within massive massive bull pennant pattern. A pullback to $2.05 is possible unless the $2.73 resistance is broken. This could lead to a massive rally to $11.

XRP price is currently trading at $2.44, up 1% in the last 24 hours. However, trading volume remains low. Coinglass data indicates futures open interests climbed 7% over the last 24 hours.

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Binance Terra Luna Classic (LUNC) burn approaches new milestone. With the latest 1.7 billion tokens burned in the 29th batch of its LUNC burn mechanism, the community hopes for a massive rally in LUNC price in 2025. With the latest Binance LUNC burn, the total tokens burned by the community reached 395 billion.

Binance Burns 1.7 Billion Terra Luna Classic (LUNC) Tokens

The Terra Luna Classic community saw 1.7 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on January 1.

In the 29th batch of the LUNC burn mechanism, the crypto exchange burned $233,156 in trading fees for the period between November 30 to December 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 68.39 billion LUNC tokens.

Notably, Binance burned 1.72 billion LUNC in the previous batch of the monthly burn mechanism. The top crypto exchange burns 50% of LUNC spot and margin trading fees monthly to support the community’s revival efforts. The community has burned nearly 395 billion LUNC tokens in 2 years and now hopes to see major LUNC and USTC burns as part of the narrative.

Terra Classic validator Lunanauts has launched the Buy Back and Burn USTC initiative, triggering a burn narrative in the community. Other validators have joined the campaign swapping LUNC rewards to USTC and then sending the amount straight to the burn wallet.

LUNC and USTC Price Performance

LUNC price jumped 6% in the last 24 hours, with the price currently trading at $0.0001148. The 24-hour low and high are $0.0001081 and $0.0001153, respectively.

Moreover, the Terra Luna Classic trading volume has increased by 33% in the past 24 hours, indicating a rise in interest among traders. Besides, a recent LUNC price analysis hints at a potential rally for the crypto to $0.000179.

Meanwhile, USTC price also climbed 5% to $0.02053. The price is now trading at $0.02053, with the trading volume also rising by 3% in the last 24 hours.

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Crypto exchange OKX will delist Ripple’s XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures today. The move comes in line with current market trends and to meet users’ needs, the crypto exchange explained.

Traders may anticipate some volatility in XRP and LTC prices as a result of this news. However, analysts are optimistic about further rally in the next bull market wave.

OKX to Delist Ripple’s Coin and Litecoin Delivery Contracts

Crypto exchange OKX announced earlier that it will phase out the generation of XRP and LTC USDT-margined and crypto-margined expiry futures. This is scheduled to be completed by today, December 27.

The crypto exchange will officially delist XRP and LTC expiry futures at 8 AM UTC on December 27, 2024. Bi-weekly expiry futures and bi-quarterly expiry futures ceased in earlier months by the platform. It also cleared that the currently listed expiry futures will remain unaffected until their respective expiration dates.

Amid this delisting news by the top crypto exchange OKX, there may be some volatility in XRP and LTC prices. This may happen due to traders reacting to the developments. Investors need to keep an eye on trading volumes and market sentiments for any change in direction.

XRP and LTC Prices Under Pressure

XRP price today jumped 0.5% and 11% in a week, with the price currently trading near $2.20. The 24-hour low and high are $2.13 and $2.23, respectively. Furthermore, the trading volume has continued to decline this week, with a 20% jump in the last 24 hours, indicating a decline in interest among traders.

Ripple’s native coin, XRP, has shown similarities in price movements to its historical chart patterns of 2014-2017. A breakout and positive news can push the XRP price beyond the $20 level. Crypto analyst Egrag Crypto predicted that the crypto could reach as high as $27.

Meanwhile, the Litecoin price is also trading sideways near $100. The price changed hands at $104.05 after a more than 20% rally this week. The 24-hour low and high are $101.16 and $104.16, respectively. Total LTC future open interests dropped 1% in the last 24 hours. The 4.38 million LTC futures OI are now valued at $457.26 million, signaling cautious trading activity.

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Ethereum co-founder Vitalik Buterin has become a foster parent of baby hippo Moo Deng, according to the details shared by Khao Kheow Open Zoo on Thursday. Following the development, MOODENG meme coin price on Ethereum jumped nearly 70% in just an hour, supported by a massive 275% jump in trading volume.

Ethereum Co-Founder Vitalik Buterin Donates 10 Million THB

According to an official post by Thailand’s Khao Kheow Open Zoo on December 26, Vitalik Buterin has joined the Wildlife Sponsorship Program and adopted famous pygmy hippo Moo Deng.

“I am delighted to accept your invitation to be Moo Deng’s adoptive father while she grows up, and to donate the zoo in her name no less than 10,000,000 THB.”

Ethereum co-founder donated 10,000,000 Thai baht to support Moo Deng and her family at the zoo. This came as a support for the Khao Kheow Open Zoo Wildlife Adoption Project. The layout plan shows a total build-up area of 1,600 square meters. As a result, the MOODENG meme coin price rocketed sparking market speculations.

As per the letter by Vitalik Buterin, the donation will be made in two installments. The first donation will be completed today, December 26. Also, the remaining 5,00,000 THB is expected to be made within a year.

Ethereum co-founder Vitalik Buterin’s donation was a Christmas present. He has sent his ETH and even meme coins he received to charity. Recently, he appreciated meme coins that donate portions of their supply directly to charity, while also suggesting a DAO or directly engaging with charity.

MOODENG Price Soars 70%

MOODENG meme coin price jumped over 70% in the past 24 hours but pared earlier gains. The price currently trades at $0.0001942, with an intraday low and high of $0.0001206 and $0.0002446, respectively. Furthermore, the trading volume has skyrocketed by 300% in the last 24 hours, indicating a massive interest among traders.

Amid Ethereum co-founder Vitalik Buterin-led efforts, trading also shot up in the derivatives market. The total MOODENG futures open interest climbed 9% in 4 hours. The 415.61 million futures OI are now valued at $$115.42 million.

Crypto exchanges such as Coinbase have also shown support with listing the token. Meanwhile, Solana-based token MOODENG price is down more than 1% to $0.2772 in the last 24 hours.

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The long-running SEC v Ripple case is once again on the investors’ radar now, with crypto-friendly Paul Atkins gearing up to take over SEC Chairman responsibilities from outgoing Gary Gensler. Simultaneously, the January 15 deadline for the US SEC to file an opening brief in the XRP lawsuit in the 2nd Circuit Court of Appeals has also fueled the market discussions. Amid this, top experts and lawyers have shared key insights on what lies ahead for the ongoing and long running case.

Incoming SEC Chair Paul Atkins to Dismiss XRP Lawsuit

The crypto market, especially Bitcoin and XRP, has seen a paradigm shift after Donald Trump’s presidential election win. Moreover, pro-crypto Trump administration formation, including Paul Atkins’s nomination as SEC Chairman further sparked bullish sentiment in the crypto market.

This includes positive developments towards Ripple case dismissal or withdrawal and reduces former SEC Director Bill Hinman’s influence in the agency. Experts including pro-XRP lawyers Jeremy Hogan, Fred Rispoli, and  Bill Morgan cleared that there are high odds of XRP lawsuit dismissal under incoming SEC Chair Paul Atkins. This could lead to a rally in XRP price.

Moreover, an ethics investigation into SEC Corporation Finance Director Bill Hinman is now completed and issued to management. It is important to note that Ripple CLO Stuart Alderoty urged the incoming administration to “cleanse the lingering stain of Hinman from the agency.” He suggested starting with restoring trust in the SEC as Atkins works to repair the damage done under Gary Gensler.

The Digital Chamber said:

“The SEC has the opportunity to reset its historically troubled relationship with the industry This week, members of TDC’s Token Alliance Leadership Committee presented our 2025 SEC Digital Asset Policy Priorities to SEC staff.”

Recently, SEC Commissioner Hester Peirce confirmed a major shift from a regulation-by-enforcement approach. “We have a big toolkit,” she said earlier this month during an appearance at the Blockchain Association Policy Summit.

Ripple Case Appeals Opening Brief Deadline Nears

The SEC must file its appeal opening brief in the Ripple case by January 15, while the overall mood is on the lawsuit’s end. However, some believe Gensler to play his last major card in the Ripple vs SEC lawsuit as he leaves office, five days after the appeals opening brief deadline.

Notably, the SEC under Gensler has already filed an 81-page filing in Binance lawsuit opposing dismissal, what Ripple CLO called “failed arguments.” Gensler continues to affirm his claim that crypto has no inherent value.

Meanwhile, most experts including crypto executives are upbeat on appeals dismissal or withdrawal, which could lead to XRP price rally to $3 and higher. They believe the SEC under Gary Gensler went after crypto companies with their much-criticized regulation-by-enforcement approach. However, the new SEC should flip the script and work on pro-crypto Donald Trump’s agenda. The community also expects XRP ETF approval under the new SEC.

Another long-running XRP lawsuit approaches an end, with the appeals court announcing the scheduled date. Ripple and CEO Brad Garlinghouse are to submit a reply in April.

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BlackRock’s iShares Bitcoin ETF (IBIT) recorded its largest-ever $188.7 million in outflow on Tuesday, raising concerns among investors. Also, US-based spot Bitcoin ETFs saw consecutive outflows for the fourth day as Fidelity’s FBTC and Ark Invest’s ARKB continued weak performance amid holidays. Bitcoin ETFs have now recorded over $1.5 billion in outflow in the last 4 days. Are these signs of an upcoming market crash, let’s see.

BlackRock Bitcoin ETF Records Largest-Ever Outflow

The crypto market showed signs of recovery as Bitcoin, Ethereum and other altcoins rebounded over the last 24 hours. Bitcoin price recovered from $94K to $99K today likely as traders FOMO Santa Claus rally. BTC currently holds above $98K, but a change in sentiment in this market can trigger sudden profit booking.

The promising factors for the change in sentiment could come from BlackRock Bitcoin ETF, which recorded its largest-ever outflow since launch on Tuesday, as per Farside Investors data on December 25. iShares Bitcoin ETF (IBIT) witnessed $188.7 million in outflow, almost double its previous largest outflow of $72.7 million last Friday.

The total outflow from US spot Bitcoin ETFs was $338.4 million, the fourth consecutive outflow. Fidelity’s FBTC saw $83.2 million and Ark 21Shares’ ARKB recorded $75 million in outflows. The flows for other crypto exchange-traded funds were negligible.

This has sparked slight concerns among traders as the year-end crypto options expiry looms. While analysts and investors are primarily bullish, the recent prediction by experts including BitMEX co-founder Arthur Hayes about a potential crypto market crash near Donald Trump’s inauguration day and Bitcoin following M2 money supply sparked sell-offs.

However, crypto firms such as MicroStrategy, Metaplanet, Matador Technologies, and others buy the Bitcoin price dip. In fact, MicroStrategy’s Michael Saylor announced a special shareholder meeting to vote on a proposal for its 21/21 Bitcoin plan. Saylor plans to issue more shares to buy more bitcoins.

What’s Next for Bitcoin Price?

BlackRock Bitcoin ETF’s largest-ever outflow and consecutive outflows from spot Bitcoin ETFs made investors to think about their next move. At present, Coinglass data indicates mixed reactions from spot and derivatives markets.

Crypto analyst Skew revealed that the current passive ask liquidity is around $100K given quoting and previous LTF high, which is an important price area. Besides, ask liquidity and spot supply is around $105K. He believes flows and volatility will be a key factor here.

“Dynamic use of taker & limit bid for acquiring BTC here, likely a strategic play by some large market entity that expects higher prices into year end & early Q1.”

BTC price jumped 5% in the past 24 hours, with the price currently trading at $98,014. The 24-hour low and high are $93,744 and $99,404, respectively. Furthermore, the trading volume has decreased by 24% in the last 24 hours, indicating low trading activity amid Christmas.

Traders must keep an eye on volume and sentiment in the market for cues on direction in upcoming days, with BlackRock Bitcoin ETF also a major factor. Notably, 147 BTC options with $14.40 billion in notional value to expire on Deribit this Friday. The max pain price is $84,000 and put-call ratio is 0.68.

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Cryptocurrency prices today showed overall gains, with the global crypto market cap rising 3.50% to $3.44 trillion. The total trading volume over the last 24 hours has decreased by 16% due to Christmas. The Crypto Fear and Greed Index is stable at 73 today, indicating “Greed” sentiment.

Bitcoin (BTC) price today holds above $98,000 after retracing from the $99K level. Major altcoins like Ethereum (ETH), XRP, and Solana (SOL) showed signs of recovery after profit booking as investors anticipate a Santa Claus rally. Meme coins DOGE and SHIB also surged 3% and 4% in the last 24 hours.

Meanwhile, Fartcoin, Pudgy Penguins (PENGU) and Movement (MOVE) lead the gainers today, with FARTCOIN skyrocketing over 70% over the last day. Here’s an overview of the leading cryptocurrencies by market capitalization and price movements.

Cryptocurrency Prices Today: BTC, ETH, XRP, & Other Altcoins Rebound

The cryptocurrency market witnessed moderate gains in prices today, with Bitcoin (BTC)  and Ethereum (ETH) rebounding more than 4% and 3%, respectively. This has fueled a bullish sentiment, triggering a recovery in broader market due to expectations of a Santa Claus rally.

Bitcoin Price Today

Bitcoin price hit a high of $99,404 today, with the price currently trading above $98,200. BTC jumped more than 4% as it rebounded from a 24-hour low of $93,689. Meanwhile, the trading volume has dropped 25% to $44 billion from a $70 billion average yesterday. Bitcoin’s market dominance rose to 56.71%, up 0.47% over the last day.

As per SoSoValue, BTC ETFs recorded $338.4 million in net outflows on Tueday. It’s the fourth consecutive outflow from spot Bitcoin ETFs causing negative sentiments in the market. BlackRock Bitcoin ETF (IBIT) recorded its largest outflow of $188.7 million. Fidelity’s FBTC had an outflow of $83.2 million, followed by ARKB with $75 million.

While Bitcoin has rallied nearly 115% this year, most mining stocks have performed poorly. Among the 25 listed companies, only 7 have achieved positive returns, including CORZQ up 327%, WULF up 169%, BTDR up 167%, HUT up 91%, IREN up 72%, NB2 up 58%, CIFR up 33%. Whereas, ARB fell 84%, and HIVE fell 29%. Meanwhile, Russia bans crypto mining in six regions till 2031, sparking concerns.

Ethereum Price Today

Ethereum (ETH) price jumped 3%, with the price currently trading at $3,490. The 24-hour low and high are $3,381 and $3,535, respectively. However, the trading volume has declined 28% over the last 24 hours, indicating a decline in interest from traders.

While spot Bitcoin ETFs lost shine, spot ETH ETFs recorded second consecutive inflows on Tuesday. The net inflow was $53.6 million, as per Farside data, with BlackRock’s iShares Ethereum ETF (ETHA) witnessing $43.9 million in inflow.

Ethereum developers are eyeing Fusaka upgrade as the next major upgrade after the Pectra. The enhancements will help Ethereum and its associated Layer-2 solutions sustain their decentralized finance (DeFi) growth momentum.

XRP Price Today

XRP price is trading at $2.30, a 2% increase in the last 24 hours. The 24-hour low and high are $2.22 and $2.35, respectively. With a market cap of $131.63 billion and a trading volume of $5.74 billion today. The cryptocurrency saw its prices gain upside momentum today despite a 29% decline in trading volume.

Analysts predicted a potential 60% surge in the coming days. Ripple’s RLUSD stablecoin saw its listing on major exchanges including Bullish and Singapore’s Independent Reserve.

Solana Price Today

Solana (SOL) price jumped 4% in the last 24 hours, with the price now changing hands at $198.61. SOL needs to reclaim above the $200 psychological level to continue further gains. It saw an intraday low and high of $189 and $201.63, respectively, with trading volume down 15% over the last 24 hours.

Binance and founder Changpeng “CZ” Zhao argued the US SEC failed to support multiple allegations and the court must dismiss the lawsuit. This includes claims against the SEC considering tokens such as Solana (SOL) listed on the exchange as securities.

Meme Cryptocurrency Prices Today

Meme coins have also shown signs of recovery today. Dogecoin (DOGE) was up by over 3%, trading at $0.333, while Shiba Inu (SHIB) also gained 4%, trading at $0.0000234. Other top meme coins like Pepe Coin, Bonk, Floki and WIF were up 2%-4% in the last 24 hours.

Top Gainers Cryptocurrency Prices Today

Fartcoin Lead Crypto Market Today

FARTCOIN price rallied over 70% in the last 24 hours, with the price now trading at $1.20. It hit a 24-high of $1.29 after gaining from a 24-hour low of $0.738. The market cap surged 65% to $1.19 billion and trading volume shot up 30% in the last 24 hours.

Pudgy Penguins

PENGU price jumped nearly 20% in the last 24 hours, with the price now trading at $0.036. Trading volume has increased by 183% in the last 24 hours, hitting a 24-high of $0.03929. Pudgy Penguins (PENGU) token jumped following its listing on the leading Korean crypto exchange Bithumb.

Movement

MOVE jumped 18% in the last 24 hours, with the price currently trading at $1.01. The 24-hour low and high are $0.8169 and $1.14, respectively. Moreover, the trading volume has increased 101% over the last 24 hours, indicating a rise in interest among traders.

Top Losers Cryptocurrency Prices Today

Virtual Protocol

VIRTUAL price fell by 4% in the last 24 hours, now trading at $3. The cryptocurrency prices today show that the 24-hour low and high at $2.91 and $3.22, respectively. The market cap fell to $3 billion and the trading volume is down 20% to $304 million.

XDC Network

XDC price has dropped by 3% in the last 24 hours, with the price currently changing hands at $0.08206. The cryptocurrency prices today show that the 24-hour low and high at $0.0813 and $0.08531, respectively.

Besides, the crypto market has continued to hold upside momentum in the last few hours with positive signs of further upside in Bitcoin (BTC), Ethereum (ETH), and major altcoins. Traders are expecting a rally after Christmas from the year’s end crypto options expiry.

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Crypto exchange Kraken and the U.S. Securities and Exchange Commission (SEC) have filed a joint stipulation and proposed order. The move comes as the leading crypto exchange plans to file an objection to a recent order in favor of the securities regulator.

Decoding US SEC and Kraken’s New Proposed Order

Plaintiff U.S. Securities and Exchange Commission (SEC) and defendants Payward Inc and Payward Ventures (together crypto exchange Kraken) have submitted a stipulation, as per a court filing late December 23.

The exchange said parties filed a joint statement regarding a discovery dispute. Notably, it concerns the SEC’s objections to Kraken’s requests for three categories of documents concerning Bitcoin and Ether, the SEC’s public statements and testimony regarding digital assets, and the SEC’s internal trading policies on digital assets.

However, in November, the court referred discovery disputes and all further discovery in this case to Magistrate Judge Robert M. Illman. Then, Magistrate Judge Illman denied Kraken exchange’s request to compel the production of the discovery. But, the leading crypto exchange believes the documents are relevant in the case.

Under the Federal Rule of Civil Procedure 72(a), the deadline to file objections to the order is December 30, but the crypto exchange intends to resubmit narrowed requests for production in line with the order.

“Kraken intends to serve narrowed requests for production in light of the Order and the Parties intend to meet and confer regarding those narrowed requests.”

Overall, the US SEC and Kraken have agreed to stay the deadline to file objections to the order until March 31, 2025 to discuss a further extension.

Lawyer Who Defended Ripple CEO Seeks Win for Exchange

Matthew C. Solomon, partner at law firm Clearly Gottlieb, filed an attestation to defend Kraken as the arguments for documents were crucial. He is known for many high-profile cases including successfully defending Ripple CEO Brad Garlinghouse in obtaining the dismissal with prejudice and successful defense of all other claims on summary judgment.

Kraken’s requested an order to compel the SEC to produce documents on why Bitcoin and Ether were not included in the SEC’s complaint despite being traded similarly to 11 crypto tokens on the platform. Even so, the magistrate judge finds the critical argument “unpersuasive“.

As coinpress reported, the exchange and the crypto industry contended that former SEC official William Hinman’s speech is relevant to the status of Bitcoin and Ether under federal securities laws. Also, Kraken has argued for fair notice defense and the major questions doctrine in the SEC lawsuit.

Notably, Ripple CLO Stuart Alderoty has also urged to remove Hinman’s influence from the SEC for restoring trust in the agency again and ending Ripple vs SEC lawsuit.

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Binance and founder Changpeng “CZ” Zhao have asked the court to dismiss the lawsuit by the US Securities and Exchange Commission (SEC). Binance claims the SEC has failed to show how its complaint satisfies the Howey test, why its complaint against third-party tokens to move ahead, and request for disgorgement should proceed to discovery.

Meanwhile, the crypto industry including Ripple CLO Stuart Alderoty fired back at the SEC. He said the agency again used failed arguments to oppose dismissal, including crypto holds no inherent value.

Binance Asks Court to Dismiss SEC Lawsuit

In the latest court filing in the District Court of Columbia, Binance and founder Changpeng “CZ” Zhao have urged the court to dismiss the lawsuit by the US SEC. Moreover, BinanceUS also filed in support of the motion to dismiss the SEC complaint.

The filings were ‘reply’ to the U.S. Securities and Exchange Commission’s opposition to drop the case. The leading crypto exchange and CZ argue that the agency failed to show that each “particular transaction” at issue was an investment contract under the Howey test. They also assert that the SEC failed to provide a reasonable way for the court to distinguish tokens sold as investment contracts from tokens sold as commodities such as Bitcoin (BTC) and Ether (ETH).

Exchange and Founder Changpeng Zhao’s Arguments

Binance said the SEC fails to show how its complaint satisfies the Howey test. It includes how the transactions at issue violate the Exchange Act and token sales involving developers were investment contracts.

Also, the agency did not explain why the case should proceed without the third-party tokens’ developers. The crypto exchange argued it was not necessary for the agency to target ten third-party tokens from many tokens.

Moreover, the filing claimed that the SEC has failed to reveal that a single investor suffered pecuniary harm, as required for the agency to seek disgorgement.

Thus, the defendants request the court to dismiss the SEC’s claims against Binance and Changpeng Zhao. Also, the SEC has failed to rectify flaws, including the court’s order on the agency’s pleading deficiencies.

BinanceUS Supports the Dismissal of SEC Lawsuit

The exchange argues that the government agency can not establish any secondary sales on Binance.US were investment contracts. Investors never had reasonable expectations of profits from the efforts of others.

Moreover, the token-by-token analysis shows the SEC’s allegations as insufficient. Also, the regulator failed to provide a framework, differentiating tokens in the marketplace that are securities and tokens that aren’t.

There were no registration claims against BinanceUS outside secondary sales, as per the filing. The SEC’s Exchange Act claims cannot move forward on the basis of staking alone. Binance arm concluded that it didn’t list securities and some counts of the first amended SEC lawsuit must be dismissed.

Meanwhile, BNB price has jumped 2% in the last 24 hours, with the price currently trading at $685.20. The token is expected to hit $800 after a recent bullish comment by CZ.

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