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The SEC rescheduled its closed meeting to July 25, raising hopes for a Ripple ($XRP) case resolution. However, XRP lawyer Bill Morgan clarifies that the meeting is unrelated to Ripple v SEC. The case, significant for crypto regulations, continues with no current settlement. #CryptoNews
A crypto whale accumulated 2.7 trillion $SHIB tokens worth $48.34M from Robinhood, sparking investor optimism. The whale’s wallet now holds $653.52M in SHIB. Lead dev Shytoshi Kusama emphasizes SHIB’s decentralized capabilities. SHIB’s price rose 1.87% to $0.00001789. #ShibaInu
Solana ($SOL) has surged 25% to over $170 this week, driven by crowd skepticism and rising DeFi TVL at $5.10B. Analysts see potential to hit $200 if trends hold. The Solana Foundation announced a new grant program, offering up to $400K for innovative projects. #Crypto #Update
Indian crypto exchange @WazirX was hacked on July 18, 2024, losing over $230M in assets. Attackers exploited a flaw in Liminal’s multisig wallet, seizing 15,298 ETH, later converted to 59,097 ETH. Forensic teams and law enforcement are investigating, but Tornado Cash and the Lazarus Group complicate recovery. #CryptoSecurity
.@BitwiseInvest CEO Hunter Horsley reveals a major U.S. bank has invested heavily in Bitwise’s Bitcoin ETFs. This marks a key milestone in crypto adoption, with 20% of the bank’s wealth management branches buying in. Bitwise’s Bitcoin ETF holds 40,499.93 BTC valued at $2.71B. #CryptoNews
#Update Investors are excited as the spot $ETH ETF approval nears in 3 days. Yet, ETH supply rises by 60,000 ETH/month since April, totaling a 150,000 ETH increase recently. Analyst Benjamin Cowen points to Fed policy for price moves. Potential multi-billion dollar inflows seen by end of 2024.
Fidelity’s $FBTC has overtaken BlackRock’s $IBIT in Bitcoin ETF inflows, with $141M on July 19 compared to $116M. $FBTC’s AUM is nearing $10B, standing at $9.962B. Bitcoin ETFs see strong performance, pushing Bitcoin prices past $67K. #Update
Coinbase CLO Paul Grewal urges the U.S. to adopt statute-driven crypto regulations amid SEC enforcement actions. This push highlights the need for clear rules to replace the current approach, as crypto companies seek stable legal environments like Europe’s MiCA regulation. #CryptoRegulation
The SEC has formed the Interagency Securities Council (ISC) to tackle securities and crypto fraud, involving 100+ federal, state, and local agencies. Led by Chair Gurbir S. Grewal, the ISC aims to boost collaboration and fight scams using social media and deepfake tech. #InvestorProtection
Ripple is contesting the SEC’s $2B fine, offering a $10M settlement instead. Ripple argues there were no findings of fraud and claims the demand is excessive. The outcome could reshape U.S. crypto regulations. #CryptoNews #Update
Massive IT outage on June 19 hit Windows computers globally, disrupting flights, 911 lines, and banking services. Linked to a CrowdStrike update, it’s the worst since 2017’s WannaCry. Bitcoin’s 11-year 100% uptime highlights its reliability vs. traditional systems. Impact resolution may take time. #TechNews
Celebrity investor Hugh Hendry predicts Bitcoin could triple, surpassing NVIDIA’s market cap. He highlights BTC’s market cap of $1.3T, calling it a unique high-growth asset. Bitcoin’s price recently rose 4% to $66,300 with volume up 11% to $31B. #Bitcoin #Update
Ryan Selkis steps down as Messari CEO, citing team safety concerns amid US election tensions. He transitions to Senior Advisor, continuing to advocate for clear crypto regulations. This shift highlights the balance between personal beliefs and professional duties. #CryptoRegulations
Grayscale Investments announces $GBTC spinoff into mini Trusts, launching on July 31. New Bitcoin and Ethereum mini trusts will have competitive fees, including zero fees for the first $2B AUM for six months. This strategic move aims to compete with low-cost ETFs. #Crypto #Update
