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Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The latest price moves in crypto markets in context for July 17, 2023.
Funding rates in perpetual futures tied to BNB are most negative in nearly three months.
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC.
Along with XRP’s strong week, 172 of 186 CoinDesk Indices assets finished in positive territory
Ripple's XRP was down 25% from its highest levels on Thursday.
The fight for regulatory clarity isn’t over yet, however, as the SEC will likely appeal the decision and continue to pursue similar cases in the future, analysts wrote.
The spike in trading activity came after a partial win in a lawsuit against the SEC.
The trading volume of XRP against the Korean won was the highest among all other counterparts .
- 01:26Six whale addresses collectively deposit 95.36 million ENA into CEXAccording to a report by Jinse Finance, monitored by Lookonchain, a total of 95.36 million ENA, valued at approximately $28.4 million, have been deposited into CEX from six wallet addresses over the past 20 hours. These wallets received the ENA from the EthenaProxy wallet.
- 01:25US House of Representatives Holds Another Hearing on Crypto Regulation Bill, Questions Trump's Conflict of InterestOdaily Planet Daily News: On June 7, the U.S. House Financial Services Committee, driven by Democrats, held a "Minority Day" hearing to conduct a supplementary review of the "Clarity Act" for digital asset markets. Several Democratic lawmakers once again questioned former President Trump's involvement in the cryptocurrency field, suggesting it may constitute a conflict of interest.Representative Maxine Waters stated that the act could be used by Trump for personal gain, noting his multiple involvements in cryptocurrency investments during his presidency. Meanwhile, legal experts expressed concerns about the regulatory exemption clauses, potential loopholes, and cybersecurity risks within the act.The Republican side emphasized that the U.S. currently lacks a federal regulatory framework for non-securities digital assets, believing that the act would help fill the regulatory gap. The bill is expected to enter the voting process next week. (CoinDesk)
- 01:24Federal Reserve's Mester: Trade War May Lead to Persistent Inflation, Tariffs Could Raise Inflation in "One or Two Quarters"According to ChainCatcher, citing Jinshi reports, Federal Reserve's Mester stated that there is a 50% chance of persistent inflation due to the trade war. Tariffs may drive up inflation within "one or two quarters".