DIRS.INFO The most relevant business & tech news

☆ Coinbase has worst week of the year as crypto stocks plummet
▼ + stars: | 2024-09-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

(Photo Illustration by Justin Sullivan/Getty Images) Justin Sullivan | Getty ImagesCryptocurrency exchange Coinbase just wrapped up its worst week of the year. According to CoinGlass, September is historically a difficult trading month for crypto assets, with bitcoin notching an average loss of 4.8%. The Crypto Fear & Greed Index, a gauge of crypto market sentiment, is firmly in the "Extreme Fear" zone, indicating that investors are worried about price moves. On Friday, the Bureau of Labor Statistics reported a cooldown in the labor market with August payrolls falling short of expectations. Crypto equities hit hardestWhile it was a rough week for risky assets of all sorts, investors over-indexed in crypto stocks had it particularly bad.

Persons: Justin Sullivan, Schwab, CoinGlass, Bitcoin, payrolls, Leena ElDeeb, MicroStrategy, Michael Saylor, CleanSpark, Jerome Powell, Donald Trump, Trump, Gary Gensler Organizations: Securities, Exchange, Securities and Exchange Commission, Marathon, Nasdaq, bitcoin, Labor, of Labor Statistics, SEC, JPMorgan Chase, Federal Reserve, August's, U.S, Republican Locations: CALIFORNIA, San Anselmo , California, Bitcoin, U.S, MicroStrategy, Coinbase, Nashville

☆ Crypto firm Ledger hikes prices of iPod-inspired wallet by 40% and launches new mid-tier option
▼ + stars: | 2024-07-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

The Ledger Flex is a new, cheaper hardware crypto wallet from French startup Ledger. Ledger finally released Stax, its long-anticipated hardware crypto wallet, and is shipping units out to people who preordered the product in May. In addition to raising the price for Stax, Ledger is also releasing a new crypto hardware wallet. The Ledger Flex features an E Ink screen, similar to the Ledger Stax. The Ledger Flex, which costs $249, is smaller than the Ledger Stax and comes with a 2.8-inch display.

Persons: Stax, Ledger, Tony Fadell, Ledger Stax, Pascal Gauthier, Ledger's Stax, Ledger's Gauthier, Foxconn Organizations: Stax, Ledger, Flex, Google, CNBC, Apple Locations: Ledger, solana, London, Vietnam

☆ Bitcoin bounces above $61,000, Solana leads cryptocurrencies higher
▼ + stars: | 2024-06-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose broadly, a day after bitcoin slumped to under $60,000 for the first time since early May, leading to a broad sell-off in crypto assets. Solana was the crypto market leader on Tuesday, however. The token tied to Chainlink, which provides data feeds on the Solana network, gained 7%. Ether gained 2% and coins linked to other Ethereum rivals rose broadly. Cardano's ADA jumped more than 6%, Polkadot advanced 5% and Binance Coin rose 3%.

Persons: bitcoin, Noelle Acheson, Solana, Ben Kurland Organizations: Metrics, Nvidia, Nasdaq, Solana Foundation, ADA, Polkadot Locations: Solana

☆ Bitcoin resumes its rally, ripping through $54,000 for the first time since December 2021
▼ + stars: | 2024-02-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin shot above the $54,000 level on Monday after waking up from a week of tepid trading. At its session high, bitcoin hit $54,965.26 and reached its highest level since December 2021. "Today is settlement day for bitcoin futures, which is contributing to the price jump we're seeing," said Ryan Rasmussen, analyst at Bitwise Asset Management. "We're approaching the window where we typically see traders positioning themselves ahead of the bitcoin halving, which will happen in the second half of April. Bitcoin traded flat in the week leading up to Monday, when the breakout began, and put it on track for a 27% monthly gain.

Persons: cryptocurrency, bitcoin, Ryan Rasmussen, Ether, Solana, Polygon's, Microstrategy, Bitcoin, Owen Lau, Oppenheimer, JPMorgan's Nikolaos Panigirtzoglou Organizations: Metrics, Bitwise Asset Management, JPMorgan, CNBC PRO Locations: —

☆ Ether is poised for an ETF approval in May, but the crypto’s price action may be subdued
▼ + stars: | 2024-02-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors expect the Securities and Exchange Commission to greenlight spot ether ETFs in May, but the price action for the crypto could be subdued compared to bitcoin's moves in the runup to its ETF approvals. That compares to the 55% surge bitcoin saw after BlackRock first filed its spot ETF application for the flagship crypto. Regardless, we see the spot ether ETF being less appreciated by the market." JPMorgan estimates a "no more than 50% chance" of spot ether ETF approval by May 23, the final deadline for the SEC to approve or deny the Ark/21Shares application . Schwenkler said any excitement leading up to potential ether ETF approvals will be "less speculative" and that a lot of it is priced in already.

Persons: Kenneth Worthington, Nico Cordeiro, there's, Owen Lau, Oppenheimer, Gustavo Schwenkler, Bitcoin, Solana, Schwenkler, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, JPMorgan, BlackRock, BTC, ETH, SEC, CNBC, Leavey School of Business, Santa Clara University, of Locations: Southern, of New York, bitcoin

☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
▼ + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.

Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin

☆ Ether takes center stage as bitcoin heads into one of its strongest months
▼ + stars: | 2024-01-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether is ready to take the limelight in the month ahead after bitcoin and newly-launched bitcoin ETFs dominated crypto investor attention in January. Both bitcoin and ether are on pace to finish the month higher by nearly 2%, according to Coin Metrics. As investors came to expect slow, steady flows into bitcoin through newly institutionalized ETFs in coming months, ether and altcoins have been ready for a breakout. February is a historically strong month for both bitcoin and ether. The SEC is due to give decisions on spot ETH ETF applications beginning in May.

Persons: Darius Tabatabai, Bitcoin, Jeff Dorman, Ethereum, Dorman, Jason Urban, bitcoin, they've, Polygon's, — CNBC's Michael Bloom Organizations: Metrics, ETH, Securities and Exchange Commission, SEC, BlackRock, Standard Chartered, Solana, Arca, Galaxy Locations: U.S, bitcoin, Invesco, Solana

☆ Bitcoin bounces above $43,000, turns positive for 2024
▼ + stars: | 2024-01-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Chesnot | Getty ImagesThe price of bitcoin broke above the $43,000 level on Monday as the cryptocurrency extended its recent gains. Bitcoin has fought back into the green for the year following steep losses after the long-awaited approval of spot bitcoin ETFs. Stock Chart Icon Stock chart icon Bitcoin rises above $43,000 MondayEther rose nearly 2% to $2,301.89. Bitcoin ETFs have been the biggest driver of the cryptocurrency's price action in recent weeks. Outflows from the Grayscale Bitcoin ETF had disappointed some investors, who shook off those worries last week as they appeared to taper off.

Persons: bitcoin, Bitcoin Organizations: Metrics, ADA

Here's the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. "However, much of their work has involved providing guidance to the industry through enforcement actions," continued Levin. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations. The U.S.'s dominant role in global finance and its focus on consumer protection plays a crucial role in its leading position in crypto regulation enforcement. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021.

Persons: Al Drago, Binance, Sam Bankman, Renato Mariotti, Mariotti, Richard Levin, Nelson Mullins Riley, Levin, ada, Changpeng Zhao, Damian Williams, Brian Armstrong, Armstrong, Alyse Killeen, Scarborough's Levin, FinCEN, Killeen, Diem, USDC, Braden Perry, it's, Kennyhertz Perry, Perry, Bafin Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Regulators, Securities and Exchange Commission, U.S, Alameda Research, U.S . Justice Department's Securities, Commodities, CNBC, Capitol, SEC, Futures Trading Commission, Department of Justice, Scarborough, CFTC, Protocol Labs, Southern, of, Stillmark, Meta, Visa, Mastercard, U.S ., European, IRS, European Union, EU, France's Financial Markets Authority, AMF, Treasury, Monetary Authority of, Three Arrows, Terra Labs, Terra, Hong Kong Securities, Futures Commission, SFC, OSL Locations: Washington, Europe, Asia, U.S, Alameda, of New York, European, Crypto, Ireland, Germany, France, Italy, Netherlands, Singapore, Dubai, Hong Kong, Monetary Authority of Singapore, China, East, Africa

☆ Robinhood launches crypto trading service in the EU
▼ + stars: | 2023-12-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Robinhood said its new crypto product would allow customers to buy, sell, and hold from a range of more than 25 tokens, including bitcoin, ether, ripple, cardano, solana, and polkadot. The company hopes to offer more tokens, as well as the ability to transfer and "stake," or earn rewards from, crypto in 2024. Robinhood is looking to tempt EU users into using its service with the ability to earn free bitcoin for users who trade lots and refer the app to their friends. The U.S. Securities and Exchange Commission has targeted several crypto firms, including Coinbase and Binance, with lawsuits alleging they violated securities laws. The EU, meanwhile, has proposed a comprehensive set of regulation, called the Markets in Crypto-Assets regulation, that would bring in stricter rules for crypto trading platforms and issuers of so-called stablecoins — tokens pegged to real-world assets like the U.S. dollar or euro .

Persons: Jakub Porzycki, Robinhood Organizations: Getty, European Union, U.S . Securities, Exchange Commission, U.S . Locations: Krakow, Poland, United States, solana, U.S, U.K, EU, Crypto

Zhao Changpeng, founder and chief executive officer of Binance, speaks at the Blockchain Week Summit in Paris, France, on Wednesday, April 13, 2022. Binance chief Changpeng Zhao will plead guilty to criminal charges and step down as the company's CEO as part of a $4.3 billion settlement with the Department of Justice, according to court documents. The plea arrangement with the government resolves a multi-year investigation into the world's largest crypto exchange. The Securities and Exchange Commission targeted the company with an expansive lawsuit in June, alleging that Binance was running an illegal securities exchange and mishandling customer funds. To this day, Binance remains the world's largest crypto exchange globally, processing billions of dollars in trading volume every year.

Persons: Zhao Changpeng, Changpeng Zhao, Zhao, Brian Tsuchida, Binance, Kraken, Gary Gensler, wasn't, Samuel Lim, —, ada, Kevin Breuninger Organizations: Department of Justice, Justice Department, DOJ, Emergency Economic, U.S, CNBC, Securities and Exchange Commission, Commodity Futures Trading Commission, Securities, Exchange Commission, SEC, Binance, Authority Locations: Paris, France, U.S, Seattle, Iran, Cayman Islands

☆ Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on
▼ + stars: | 2023-11-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception.

Persons: Altcoins, bitcoin, Polygon's, Bitcoin, Rob Ginsberg, Ginsberg, altcoins, – it's, It's, Ryan Rasmussen, Mike Novogratz, JPMorgan's Nikolaos Panigirtzoglou, haven't, Panigirtzoglou, — CNBC's Michael Bloom Organizations: Solana, ADA, ETH, Wolfe Research, Treasury, Bitwise Asset Management, Galaxy Digital, JPMorgan Locations: Canada, Europe

☆ Ether tops $2,000 for the first time since April, bitcoin climbs to an 18-month high
▼ + stars: | 2023-11-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A similar notice for the iShares Bitcoin Trust came on June 8, one week before BlackRock's filing for a bitcoin ETF. The price of ether jumped Thursday, topping the key $2,000 level for the first time since April, after BlackRock took initial steps toward filing for a spot ether ETF. Other crypto assets as well as crypto equities rode the bitcoin price wave Thursday. Meanwhile, shares of bitcoin miners rode the bitcoin wave too. Don't miss these stories from CNBC PRO:Correction: The price of bitcoin topped $37,000 for the first time since May 2022.

Persons: Clara Medalie, Ether, bitcoin, Solana, Darius Tabatabai, Gary Gensler, Microstrategy, CleanSpark, —, Jesse Pound Organizations: Delaware's Division, Corporations, BlackRock, Metrics, Cardano, SEC, CNBC, Marathon, Iris Energy Locations: Coinbase

☆ Cryptocurrencies rise, sending bitcoin over $30,000 at one point, on optimism for a new ETF
▼ + stars: | 2023-10-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

At one point Monday morning, bitcoin surged above $30,000 in a sudden spike on an unconfirmed report that the iShares spot bitcoin ETF had been formally approved by the Securities and Exchange Commission. Cryptocurrencies briefly soared to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months. Last week, bitcoin had jumped on Friday on news that the SEC would not appeal a ruling in Grayscale's lawsuit against regulators. In June of 2022, Grayscale sued the SEC over its denial of the company's application to convert the popular Grayscale Bitcoin Trust (GBTC) to an ETF. To be sure, bitcoin is coming off its worst week since Aug. 18 and first negative week in six.

Persons: bitcoin, Cryptocurrencies, rehearing, Paul Tudor Jones, Bernstein, Ripple's, —, Jesse Pound, Nick Wells, John Melloy Organizations: Securities and Exchange Commission, BlackRock, CNBC, SEC, Metrics, Appeals, Smart Locations: U.S

☆ Ether to soar to $8,000 in 3 years and eventually may hit $35,000, predicts Standard Chartered
▼ + stars: | 2023-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A report out Wednesday argues that the price of the ethereum cryptocurrency may eventually climb as high as $35,000. "Layer 2 scaling solutions … are likely to grow in importance over time, particularly as architecture upgrades expected in early 2024 sharply lower fees on these platforms. ETH.CM= 1Y mountain Ether (ETH) over the past year That valuation assumes future use cases and revenue streams that may not exist yet, Kendrick noted. He highlighted gaming and tokenization of real-world assets as the next big use cases for the network. Standard Chartered expects "significant developments on these fronts by 2025-26," Kendrick said.

Persons: ethereum, Geoff Kendrick, Kendrick, — CNBC's Michael Bloom Organizations: Chartered, ETH Locations: Solana, Cardano, London

☆ It’s been one year since the Ethereum merge. Here’s how the network is doing on its goals.
▼ + stars: | 2023-09-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Despite ether's recent price action, the network has been thriving since the "merge" – and could just be getting started. Still, market participants are seeing and feeling the success of the Ethereum merge. Here's how Ethereum is doing on some of its post-merge goals: Yields Ether's staking reward reference rate was 5.854% per annum on Sept. 15, 2022, according to Ethereum data provider Beaconchain. The percentage of ether supply being staked has risen from 11.99% on Sept. 15, 2022, to 20.46% on Aug. 30 of this year. Burning fees and decreasing supply Ethereum has a mechanism programmed in to regulate the network's notoriously high transaction fees, called gas fees, by "burning" them.

Persons: Ethereum, it's, Ethereum haven't, Matthew Sigel, Andrew Ballinger, hadn't, Maria Shen, Shen, It's Organizations: Metrics, First, ETH, Electric Locations: Bitcoin, FTX, First Republic, Shanghai, ETH, Solana, Cardano

☆ ‘Liquid staking’ is one pocket of crypto seeing big growth this year. Here’s what investors need to know
▼ + stars: | 2023-09-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Liquid staking protocols give investors access to liquidity while staking their funds. In April, the total value locked in liquid staking protocols began outpacing the total value locked in lending protocols and decentralized exchanges, according to DefiLlama. Here's what investors need to know about liquid staking compared to regular staking. It's less risky Like anything in crypto, liquid staking isn't without its risks – primarily technological and regulatory. "Staking as an activity has become too risky and it's a no-brainer for many people who are considering vanilla staking versus liquid staking," said Christine Kim, vice president of research at Galaxy.

Persons: It's, Conor Ryder, Ethereum, stakers, Riad Wahby, Wahby, Christine Kim, Ryder, USDT – Organizations: Silvergate Bank, Ethena Labs, Galaxy Locations: DeFi, Shanghai, Solana, Polkadot

☆ Crypto market bounces off recent sell-off, bitcoin rises to $26,500
▼ + stars: | 2023-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin rose more than 2% to $26,517.09. The crypto market move higher coincided with gains in the major stock averages. "Add in summer trading volumes, and you have a recipe for day-to-day volatility. Crypto has been suffering since the spring from low liquidity and thin trading volumes, which has exacerbated moves on both the upside and the downside. "The correlation between equity indices and bitcoin has declined to near zero in 2023," said Sam Callahan, lead analyst at Swan Bitcoin.

Persons: Cryptocurrencies, Bitcoin, Ether, Cardano's, Callie Cox, Jerome Powell, Crypto, Sam Callahan Organizations: Federal, Swan Locations: Jackson Hole , Wyoming, Jackson

☆ Altcoins slide to begin the week while bitcoin and ether stabilize
▼ + stars: | 2023-08-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

The crypto market was lower to start the week after bitcoin posted its worst week since May. Bitcoin was higher by just 0.02% at the $26,136.36, according to Coin Metrics. Last week, it lost 11% due to a sharp decline that began Wednesday afternoon. Ether was lower by 0.18% at $1,674Altcoins were making bigger moves to the downside on Monday, however. The Cosmos token lost more than 3% and Uniswap's coin was 2% lower.

Persons: bitcoin, Bitcoin, Ripple's XRP, Cardano, Chris Martin Organizations: Metrics, Solana, Polygon, Cosmos Locations: China, Asia, Hong Kong, Singapore

☆ Bitcoin briefly breaks below $26,000, heads for worst week since November
▼ + stars: | 2023-08-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin was last lower by more than 6% at $26,099.00, according to Coin Metrics, following a stunning fall that began late Thursday. The crypto asset briefly dropped below $26,000 twice between late Thursday night and Friday morning. The move pulled the rest of the crypto market lower. For the week, bitcoin is down more than 11.5% and on pace for its seventh weekly loss in the past eight and its worst week since November. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m.

Persons: Bitcoin, Ripple's XRP, bitcoin, Crypto Organizations: Solana, Street, Elon, SpaceX

☆ Cryptocurrencies fall to begin August, bitcoin dips under $29,000
▼ + stars: | 2023-08-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Ether , which has joined bitcoin in recent months as a sort of large cap, blue-chip trade in crypto, was down by 1.4%, after finishing July down by 3.35%. It was under extra pressure due to a recent exploit in DeFi giant Curve, however. Whenever investors hear the word hack ... it puts the whole crypto market on the backfoot and that's what's happening here," Gilbert said. Bitcoin volumes have also dropped significantly from their recent highs and have failed to reclaim them despite the price of bitcoin showing so much resilience this year. "When bitcoin heads south so do most altcoins ... and they're selling off a little bit further given what we're seeing with Curve."

Persons: bitcoin, Josh Gilbert, Altcoins, Ripple's, XRP, Aave, We've, Gilbert Organizations: Metrics, SEC, Binance, Solana, Polygon's, Finance, ERC, Blackrock ETF Locations: DeFi, Blackrock

☆ Before suing Coinbase, SEC asked it to trade only in bitcoin -FT
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN.O) to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. The SEC told FT that its enforcement division did not make formal requests for "companies to delist crypto assets". The regulator sued Binance in June, with both civil cases part of SEC Chair Gary Gensler's push to assert jurisdiction over the crypto industry. Gensler has labeled the crypto industry a "Wild West" that has undermined investor trust in the U.S. capital markets. The SEC and Coinbase did not immediately respond to a Reuters request for comment on the report.

Persons: Coinbase, Brian Armstrong, Armstrong, let's, Gary Gensler's, Gensler, Juby Babu, Sonia Cheema, Savio D'Souza Organizations: U.S . Securities, Exchange Commission, SEC, Financial Times, Binance, Thomson Locations: Solana, Cardano, U.S, Bengaluru

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Ripple's XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator efforts to stamp out digital asset trading. All four tokens were recently singled out as securities in the U.S. Securities and Exchange Commission's formal suits against popular crypto retail trading exchanges, including Binance and Coinbase . But the Thursday summary judgement from U.S. District Judge Analisa Torres calls that classification into question. Ripple maintained that its token is not a security — triggering ongoing confusion over which digital coins fall into which regulatory bucket.

Persons: Ripple's, Algorand's, Analisa Torres, Brad Garlinghouse, Renato Mariotti, Bryan Cave Leighton Organizations: U.S . Securities, Exchange, District, SEC, Labs, San, U.S . Southern, of New, U.S . Justice Department's Securities, Commodities Locations: Paris, France, San Francisco, U.S, of New York, Chicago

July 14 (Reuters) - Cryptocurrency companies that have resisted U.S. regulatory oversight, arguing digital assets are not securities, won a court victory this week. The SEC sued Ripple for conducting an unregistered offering of $1.3 billion in XRP between 2013 and 2020. The regulator has brought more than 100 enforcement actions against crypto companies, claiming digital assets are securities. Securities, unlike assets such as commodities, are strictly regulated and require detailed disclosures to inform investors of potential risks. Before the Ripple decision, judges in the few cases decided in court agreed with the SEC that specific crypto assets were securities.

Persons: Analisa Torres, Ripple, Torres, Coinbase, Howey, Carol Goforth, Goforth, Jody Godoy, Tom Hals, David Gregorio Our Organizations: Labs, U.S, District, U.S . Securities, Exchange Commission, The SEC, SEC, Industry, Supreme, Securities, University of Arkansas, Thomson Locations: New York, XRP, U.S, Solana, Cardano, Florida, Wilmington , Delaware

Search resuls for: "Cardano"

25 mentions found