The Block
Quick Take The price of Ripple’s XRP token has rallied over 27% in the past 24 hours to hit its highest level since May 2021. The surge comes amid Gary Gensler’s announcement of his departure from the SEC.
Quick Take The cumulative net inflow total of spot bitcoin ETFs crossed the $30 billion mark for the first time. The funds raked in over $1 billion in a single day today for the third time. Bitcoin is now trading above $99,300.
Quick Take The Securities and Exchange Commission is appealing the Aug. 7 judgment regarding the web3 payments firm Ripple. “We believe that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities law,” an SEC spokesperson said.
Quick Take Securities and Exchange Commission Enforcement Director Gurbir S. Grewal is leaving the agency after a three-year tenure. As the top enforcement official, Grewal sued approximately 100 crypto firms.
Quick Take The FTX estate is preparing to sell $38 million of its locked Worldcoin tokens at a discount. Bitwise has filed a registration statement with the Securities and Exchange Commission for a spot XRP ETF. Australian Federal Police’s “Operation Kraken” initiative seized over $6 million in crypto after deciphering seed phrases from organized crime wallets. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take Charles Schwab plans to offer clients direct crypto investments when regulations make it easier to do so, its incoming CEO told Bloomberg on Thursday. The decision coincides with the rapid growth of crypto financial products in the U.S. and the prolonged market rally sparked by Donald Trump’s election victory.
Quick Take Solana gained 11% in the past 24 hours, trading above $263 to reach a new all-time high.
Quick Take Bitcoin’s demand has shown signs of stabilization, but a more significant uptick is required in Q4 to support higher prices, according to CryptoQuant analysts. The digital asset’s price has gained a muted 1.2% in the past hour, and is currently trading above the $62,000 mark.
The FTX estate is auctioning 22.3 million locked Worldcoin tokens, three sources told The Block.Bids for the WLD token sale must be submitted by 8 PM ET Wednesday, two of the sources added.
Quick Take Judge Patricia Millett ruled that the U.S. Commodity Futures Trading Commission failed to show that the “public will suffer irreparable injury absent a stay pending appeal.” The CFTC and Kalshi have been in a lawsuit since late last year after the agency said that Kalshi could not offer contracts related to “congressional control contracts.