Key Reason Bitcoin Surpassed $60,000, Ripple Faces New SEC Deadline Extension Request, Coinbase Account Balances Showing at Zero, Here’s Why: U.Today’s Crypto News Digest

Key Reason Bitcoin Surpassed $60,000, Ripple Faces New SEC Deadline Extension Request, Coinbase Account Balances Showing at Zero, Here's Why: U.Today's Crypto News Digest

Guru-Investingpresents the three main news of the past day.


Guru-Investingpresents the three main news of the past day.

Key Reason Why Bitcoin (BTC) Soared Above $60,000

With the price of Bitcoin surpassing the $60,000 level For the first time since late 2021, the world’s largest cryptocurrency has made headlines around the world. At the time of writing, according to data from CoinMarketCap, BTC is trading at $62,724, up 3.18% in the last 24 hours. The main reason behind the rise in Bitcoin price is the growing enthusiasm around Bitcoin exchange-traded funds (ETFs). According to recent data provided by Jim Bianco of Bianco Research, the 10 spot Bitcoin ETFs recorded 241,000 trades, surpassing the trading volume of major ETFs such as the SPDR S&P 500 ETF (SPY) and the Invesco QQQ ETF (QQQ) for the second day consecutive. . Such an increase in activity signifies growing interest and investment in Bitcoin ETFs, which together hold $44 billion in assets.

‘$1 ​​Million Bitcoin’ Advocate Samson Mow Issues Warning to Altcoin Investors

Ripple faces new SEC deadline extension request

In a recent development of the Ripple-SEC legal battle, the regulatory agency approached Judge Analisa Torres in the Southern District of New York with a request to extend the schedule for information related to remedies. Specifically, the SEC is seeking an extension of the deadline for the opening brief to be rescheduled from March 13 to March 22, 2024. The “good cause” for granting this request, as explained by the regulator, is the need for additional time to review those recently produced. documents and finalize the briefing related to the solutions. This is the first time either party has requested a delay in the schedule of briefings related to the solutions, and Ripple agrees to the suggested schedule modifications.

Ripple Chairman Breaks Silence on XRP Ledger’s Latest Revolutionary Move

Coinbase Zero Balance Alert: What Happened?

YesterdayOn February 28, Coinbase users were filled with worry and confusion when the crypto exchange experienced a significant outage in its system. According to numerous user reports, their account balances dropped to zero, and the issue affected all types of transactions, including buying, selling, and transferring funds. The Coinbase team reacted quickly to the issue and assured their users that their assets are safe and that they are actively working to provide a solution. According to Coinbase CEO Brian Armstrong, the issues have been caused by a large increase in traffic amid the current cryptocurrency rally. As can be seen in the Coinbase status websiteThe incident was reported to have been successfully resolved at 9:24 pm PST.

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