Take a look at what happened in the cryptocurrency world over the weekend with U.Today’s top three stories.
Take a look at what happened in the cryptocurrency world over the weekend with U.Today’s top three stories.
Ripple v. SEC: Next key deadline to watch in crypto legal battle
The SEC and Ripple are preparing for the next important deadline in their legal battle as both sides are entering the “remedies” phase of the case focusing on institutional sales. As a reminder, in July 2023, the fintech company won a victory in the lawsuit; However, the court determined that some institutional sales of XRP were investment contracts and, as such, should have been registered with the SEC. In early February, Judge Netburn tidy Ripple will provide its 2022-2023 financial statements, post-complaint contracts, and respond to a question about revenue from institutional XRP sales after the complaint was filed. The initial deadline for discovery of remedies was February 12; However, Ripple and its legal team required a one-week extension until February 20. Thus, the company set tomorrow, February 20, the next crucial deadline in the legal battle.
Ethereum ETF in March? The Bloomberg expert believes not
The crypto community is abuzz with speculation about the possible launch of an Ethereum ETF in March. However, Bloomberg Intelligence analyst James Seyffart has questioned the possibility of this development. In a recent x publication, stated that there is very little chance of an Ethereum ETF launching in the estimated time frame. He even agreed to stake four ETH against the rumored likelihood of an imminent Ethereum ETF launch. It is interesting to note that while Seyffart is still skeptical about a March launch, he did not expand on his doubts about an Ethereum ETF by the end of 2024. Meanwhile, recent developments suggest that financial firms are still working to obtain regulatory permission. for Ethereum. ETF. VanEck and ARK/21Shares have filed revised filings, and Standard Chartered and Franklin Templeton are advancing their respective Ethereum ETF applications.
Tron founder Justin Sun heats up the market with mysterious $500 million transfer
According to data provided by Whale Alert, Tron founder Justin Sun recently made a significant transfer valued at 500 million dollars. The transaction has generated controversy since it quickly moved from JustLend, a Sun-backed platform, to HTX, a platform on which Sun holds a prominent advisory position. The implications of the transaction are more complicated due to Sun’s involvement in JustLend, a Tron-based financial platform known for its stUSDT products. Adding to the rumors in the crypto community, JustLend received another $642.06 million USDT from an unidentified wallet that was supposedly connected to Sun. Although the exact reasons for Justin Sun’s $500 million transfer are still unknown, several plausible theories have emerged. Some suggest it could be a strategic move to inject liquidity into HTX, strengthening the platform that Sun advises, while others believe it could be a personal investment, diversifying his holdings beyond Tron-related projects.
