Attorney Deaton Dispels Rumors of Judge Torres Being on SEC's Payroll in Ongoing SEC vs. Ripple Lawsuit
June 28 (Cointime) - Pro-XRP lawyer John Deaton has dismissed rumors that Judge Analisa Torres is on the SEC's payroll. During a recent CryptoLaw broadcast, Deaton addressed the rumors that something suspicious was happening behind the scenes of the ongoing SEC vs. Ripple lawsuit.
Grayscale's Bitcoin ETF Lawsuit Has 70% Chance of Success Against SEC, Says Bloomberg Analyst
June 27 (Cointime) - According to Bloomberg Intelligence Senior Legal Analyst Elliot Z. Stein, the company behind the world's largest Bitcoin fund has a 70% chance of winning its lawsuit against the U.S. Securities and Exchange Commission (SEC). Stein also assigns a 50% likelihood to a Bitcoin spot ETF being approved in the United States this year.
Grayscale Bitcoin ETF Approval Expected in August 2023 as SEC Faces Lawsuit
June 27 (Cointime) - The Grayscale Bitcoin Trust (GBTC) trading volume has increased due to the recent interest in Bitcoin ETFs from mainstream players. Grayscale went to court against the U.S. Securities and Exchange Commission (SEC) after their spot Bitcoin ETF application was rejected, and the judges in the lawsuit questioned the SEC's motives during a recent hearing.
SEC Files 13 Charges Against Binance for Allowing US Customers To Trade, As Regulatory Pressure Mounts in Europe
June 27 (Cointime) - Binance and its founder, Changpeng Zhao, have been hit with 13 charges by the SEC for allowing US customers to trade on its platform in violation of compliance rules. Despite Binance's attorneys stating that the charges will not affect trading at its US subsidiary or funding from lenders, the situation looks bleak.
XRP Price Shows Slight Bullish Signs Amidst Crypto Market Rally
June 27 (Cointime) - Last week, Bitcoin and Ethereum prices rose by over 12% and 8%, respectively, while Ripple's XRP saw a decline. However, XRP is now showing slight bullish signs due to positive updates in favor of Ripple and defendants against the SEC. Despite a minor correction in the last 90 days, XRP's price is up by 42% on a year-to-date basis. On-chain data suggests that other major cryptocurrencies are ranging to start the week, while XRP remains the only one showing slight bullish signs.
Circle CEO Expects Bitcoin ETFs to be Approved as Regulators Address Past Concerns
June 27 (Cointime) - Jeremy Allaire, CEO of Circle, believes that the new wave of Bitcoin exchange-traded funds (ETFs) will be approved as regulators address past concerns. He cites the presence of mature spot markets, well-regulated custody infrastructure, and good market surveillance as evidence of progress. The Securities and Exchange Commission (SEC) has received multiple spot Bitcoin ETF applications from asset managers such as BlackRock and Invesco. Allaire also notes that Circle is seeing demand for digital dollars in emerging markets, particularly in Singapore and Hong Kong.
SEC Lawsuits Against Binance and Coinbase Cause $5 Billion Loss for Solana, Polygon, Cardano, and Other Tokens
June 27 (Cointime) - According to a Decrypt analysis of CoinGecko data, Solana, Polygon, Cardano, and other tokens involved in the SEC court battles have lost $5 billion, or 15%, of their collective market capitalizations. The SEC filed lawsuits against Binance and Coinbase on June 5 and 6, accusing them of selling unregistered securities. The lawsuits named several cryptocurrencies, including Solana, Cardano, and Polygon, which have suffered losses since the lawsuits were filed. Despite the drops in token prices, the crypto market has been on a bullish rally over the past week, with Bitcoin reaching over $31,000 for the first time in months.
Court Denies Binance Request To Prevent SEC From Making Misleading Statements
June 26 (Cointime) - The court overseeing the SEC's case against Binance has ruled that there is no need to revise either party's public statements from June 26.
Rep. Maxine Waters Gives US Regulators One Week to Weigh in on Republican Crypto Bill
June 26 (Cointime) - US Representative Maxine Waters has written to the SEC and the US Treasury Department asking them to review the Market Structure Bill, a discussion draft sponsored by Republican Committee heads Patrick McHenry and Glenn Thompson.
SEC Fines JPMorgan $4 Million for Deleting Millions of Email Records Related to Its Chase Subsidiary From 2018
June 27 (Cointime) -The U.S. securities regulator has fined JP Morgan $4 million for deleting millions of email records related to a Chase Bank subsidiary in 2018. Many of these records are business records required to be kept under the Securities Exchange Act of 1934. By mistake, JP Morgan was unable to provide the evidence requested by the SEC and other investigators.
