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Coinbase vs. SEC - positive news for crypto Coinbase’s legal battle with the U.S. SEC also made headlines this week. Coinbase seeks a dismissal of the SEC’s case, with a hearing scheduled for Jan. 17. In a report on Jan. 16, the Wall Street Journal asserted that its request for a dismissal might not be granted. During the hearing, Judge Katherine Polk Failla, who presided over the case, criticized the SEC’s usage of the Securities Act of 1933 – a 90-year-old legislation – for the regulation of nascent technologies such as crypto and Bitcoin. Shortly after the hearing, Elliott Stein, a prominent litigation analyst, argued that the judge is likely to grant Coinbase’s request to dismiss the case. Recall that the SEC’s lawsuit alleges that Coinbase offered unregistered securities on its exchange platform. If the case is dismissed it will have a huge impact on prices of coins that have been classified as securities by the SEC. The coins that would go up in price would mainly be: BNB, Solana, Cardano, XRP etc Follow me for all the latest news #bnb #solana #xrp #cardano

Coinbase vs. SEC - positive news for crypto

Coinbase’s legal battle with the U.S. SEC also made headlines this week. Coinbase seeks a dismissal of the SEC’s case, with a hearing scheduled for Jan. 17. In a report on Jan. 16, the Wall Street Journal asserted that its request for a dismissal might not be granted.

During the hearing, Judge Katherine Polk Failla, who presided over the case, criticized the SEC’s usage of the Securities Act of 1933 – a 90-year-old legislation – for the regulation of nascent technologies such as crypto and Bitcoin.

Shortly after the hearing, Elliott Stein, a prominent litigation analyst, argued that the judge is likely to grant Coinbase’s request to dismiss the case. Recall that the SEC’s lawsuit alleges that Coinbase offered unregistered securities on its exchange platform.

If the case is dismissed it will have a huge impact on prices of coins that have been classified as securities by the SEC.

The coins that would go up in price would mainly be: BNB, Solana, Cardano, XRP etc

Follow me for all the latest news

#bnb #solana #xrp #cardano

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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Solana Mobile to Sell Second Crypto Smartphone: Source The successor to Saga will have new hardware and a cheaper price point, according to a person familiar with the plans. Solana Mobile plans to launch a second smartphone as it looks to ride the unlikely success of its first crypto-ready smartphone, a person familiar with the matter said. The upcoming phone will have the same basic features as its predecessor, called Saga: an onboard crypto wallet, custom Android software and a "dApp store" for crypto applications – but at a cheaper price point and with different hardware, the person said. The new Solana Mobile phone could help tamp down what's become a red-hot secondary market for the severely limited supply of existing Saga smartphones. At press time a factory-sealed Saga device was catching bids at $3,200 on eBay, five times more than its price five weeks ago. Back then Saga's backers were preparing to move on from their experimental phone, which had sought to create a mobile-first platform for crypto traders and NFT collectors but struggled to find a market big enough to justify its existence. That changed in an instant when crypto traders realized the phone came with an allocation of BONK tokens that more than covered the price of the device. In less than a week the Saga sold out. In the ensuing month Saga phones continued to yield dividends for their owners, with various projects airdropping lucrative tokens and NFT to the 15,000 phones in the wild. Those airdrops have bolstered the community around Saga and prompted more Solana developers to look into building mobile applications. Follow me and like this post. I will let you know how you can register your interest for the new phone. #Sol #bonk #solana
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BlackRock scoops up 11,500 BTC during dip as ETF leads the pack This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock effectively represents about 13 days’ worth of Bitcoin production being absorbed by a single player. The asset manager’s CEO, Larry Fink, recently said his views on Bitcoin have evolved significantly over the years, and he now sees it as a “viable asset class.” Supply crunch Based on data, the iShares Bitcoin Trust (IBIT) Spot ETF managed only around 25% of the trading volume over the same two-day period. From this, one could infer that approximately 46,000 BTC were removed from the system over the past two days, with influences from other players like Grayscale Bitcoin Trust (GBTC). If this trend continues, the Bitcoin market could face a severe supply crunch. With an estimated 46,000 BTC being absorbed in two days, which equates to 23,000 BTC per day, this rate is about 25.5x the daily production of Bitcoin. The substantial uptake by U.S. ETFs, not to mention the additional demand from retail investors and other global ETFs, suggests a tightening of available Bitcoin supply. Despite the fluctuations in Bitcoin’s price, the underlying asset remains resilient. Despite the high fees associated with GBTC, the successful launch of the Bitcoin ETF is a strong indication of growing institutional interest. It could herald a new era of scarcity in the Bitcoin market ETF inflows hit $819M The first two trading sessions following the approval of new Bitcoin exchange-traded funds (ETFs) experienced substantial inflows totaling $1.4 billion. After accounting for outflows from GBTC, the net total inflows across all Bitcoin-related products amounted to $819 million. A breakdown of this activity shows a remarkable volume of 500,000 individual trades, contributing to a total trading volume of $3.6 billion. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack in this initial surge, which garnered $497.7 million in total flows. The Fidelity Advantage Bitcoin ETF (FBTC) was close behind.
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