Grayscale offloads $2.14 billion in BTC, Ripple CLO exposes major misconduct in Coinbase v. SEC, Gemini’s Cryptic XRP Posts Move Community: U.Today’s Crypto News Digest

Grayscale offloads $2.14 billion in BTC, Ripple CLO exposes major misconduct in Coinbase v.  SEC, Gemini's Cryptic XRP Posts Move Community: U.Today's Crypto News Digest

Here are the top three news stories from the past day brought to you by U.Today.

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Here are the top three news stories from the past day brought to you by U.Today.

Grayscale Offloads $2.14 Billion in Bitcoin (BTC) Following ETF Approval

According to recent data provided by the Lookonchain X account, Grayscale diminished its Bitcoin holdings at 52,227 BTC valued at $2.14 billion. This divestment came following the recent approval of Bitcoin spot ETFs by the SEC. At the moment, Grayscale holds 566,973 BTC worth $23.21 billion. Grayscale’s decision to sell such a substantial portion of its BTC holdings sparked significant speculation among members of the crypto community. As analysts suggest, Grayscale may have strategically moved its assets to capitalize on growing institutional interest in the cryptocurrency after spot Bitcoin ETFs were given the green light. Meanwhile, the price of Bitcoin has fallen 5% in the last 24 hours; According to CoinMarketCap, BTC is currently trading at $38,654.

Coinbase vs. SEC: Ripple’s Lead Lawyer Exposes Major Misconduct

In a recent X post, Stuart Alderoty, Ripple’s chief legal officer, sleepless what he believes is serious misconduct by the SEC following the recent hearing in the Coinbase case. The regulator accuses the exchange of selling securities that were not registered, a claim that Coinbase strongly disputes. However, Alderoty’s post challenges the SEC’s narrative, stating that his focus is on whether investors are “bundling [their] capital with the promoter’s efforts” is fundamentally flawed. Counsel argues, citing the influential Revak case, that the Howey test requires more than a mere investment in effort; it requires an investment in a common enterprise.

Related
Max Keizer expects XRP to fall to $0.01

Gemini’s Mysterious XRP Tweets Spark Speculation Within the Community

The XRP community was recently shaken by the latest posts by Gemini, a major crypto exchange. the publications including Several mentions of the Ripple-affiliated token, with phrases like “Don’t forget xrp,” “excited for xrp,” and “xrriving soon,” caused quite a stir among Gemini followers and market participants. Notable community influencers, such as Crypto Eri, took to the comments of the posts to share their guesses about the meaning behind the cryptic messages. According to some suggestions, Gemini could be hinting at a new European Union joint venture for an XRP spot ETF, considering Gemini’s recent approval as a Digital Asset Service Provider (DASP) in France and its role as custodian of the XRP ETF. Recently launched Bitcoin spot by VanEck. .

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