On Thursday, Kraken filed a motion to dismiss the case, claiming that the U.S SEC had not charged fraud and had instead stretched the meaning of a contract in its lawsuit. With the argument that cryptocurrencies—or at least those included in the SEC’s complaint—should be classified as commodities rather than
According to analysts at JPMorgan, the current spike in cryptocurrency prices is not due to market fundamentals or institutional investors but rather to irrational trading choices made by individual traders. On Thursday, analysts headed by Nikolaos Panigirtzoglou of JPMorgan released a report stating that, similar to stocks, they found that
Since Bitcoin ETFs were introduced in January, the price of Ethereum, the second-largest cryptocurrency, has been in the focus. With numerous applications already filed with the SEC, investors think Ethereum’s chances of acquiring a spot ETF are strong. Coinbase has backed Grayscale’s proposal to convert its existing Ethereum Trust product
Coinbase, a leading cryptocurrency exchange, has taken a proactive stance in advocating for the approval of the Grayscale Ethereum Trust listing as a spot ether Exchange-Traded Fund (ETF). The company’s Chief Legal Officer, Paul Grewal, recently announced on social media platform X that Coinbase has responded to a request for
Developments within concepts like central bank digital currencies (CBDCs) and approvals of Bitcoin Spot ETFs earlier this year have sped up the process of removing the disconnects that have long been existing within the traditional financial systems and the world of cryptocurrencies. Enfineo in particular aims to bridge that gap
Brad Garlinghouse, the CEO of Ripple, the company behind the XRP cryptocurrency, spoke to Bloomberg TV about the challenges and opportunities facing the crypto industry. He expressed his support for the idea of an XRP exchange-traded fund (ETF). Since the launch of Bitcoin ETFs, there have been talks in the
Ether (ETH), the native token of the Ethereum network, surged past the $3,000 mark on Tuesday, marking its highest value since April 2022. Over the past 24 hours, Ether’s price has risen by approximately 3.5%, reaching $3,033, and has displayed a significant 16% increase in the past week, outpacing other
The Pyth Network has introduced its Bitcoin ETF Price Feeds to provide DeFi developers and consumers with real-time, reliable pricing data for 13 Bitcoin exchange-traded funds. For the cryptocurrency sector, the introduction of Bitcoin ETFs this year marked a major turning point. The world’s biggest cryptocurrency is now accessible to mainstream
There has been a dramatic change in the Bitcoin liquidity scenario, especially on U.S cryptocurrency exchanges. The advent of exchange-traded funds (ETFs) in the U.S is largely responsible for the dramatic increase in liquidity shown in recent statistics. The liquidity dynamics of Bitcoin have changed significantly, with US-based crypto exchanges
In recent months, the cryptocurrency market has witnessed an unprecedented surge in both investment and speculation, with derivatives trading reaching remarkable highs. Bitcoin, the leading digital asset, has once again taken the spotlight as its futures open interest surpassed $10 billion for the first time since July 2022. This surge
