Top Crypto News This Week: Crypto Market Faces $100B Loss as #Bitcoin Price Struggles Below $64K.
Last week, the crypto market faced a steep $100 billion loss, pushing Bitcoin below $64,000. Despite multiple recovery attempts, Bitcoin struggled to regain stability, peaking at $66.5K before dropping to $63.4K.
The upcoming week may see continued pressure, with bearish trends possibly halting any recovery. Meanwhile, positive market developments and regulatory news made Ethereum losing only 1.5% last week. This article will explore the key events from the past week that significantly influenced the market.
Australia Welcomes First Spot Bitcoin ETF
The Australian Securities Exchange , which makes up 90% of Australia’s stock market, has given the green light for its first spot-bitcoin exchange-traded fund (ETF), according to a post from VanEck, the issuer.
This fund mainly serves as a ‘feeder fund’ and uses a passive management approach, as stated in the disclosure. It offers investors a way to invest in bitcoin by putting money into the Bitcoin Trust (‘HODL’), a U.S. ETF l
SEC Ends Ether Security Investigation Amid Pressure
The U.S. Securities and Exchange Commission’s (SEC) argument that Ether is a security might not have been as solid as suggested. On June 19, 2024, the SEC unexpectedly concluded its investigation into whether Ether is a security.
The bug, reported by an anonymous “security researcher” on June 9, led to two accounts extracting these assets. The researcher demanded a reward for identifying and using the flaw.
MicroStrategy Buys Additional 11,931 BTC
MicroStrategy, a Nasdaq-listed software company and the largest corporate Bitcoin holder, bought an additional 11,931 BTC for $786 million, a recent press release stated.
As of April's end, the company, led by Executive
Chairman Michael Saylor, held 214,400 bitcoins.
This new purchase increases its total to
226,331 tokens.
Ripple Wins Partial Victory in Court
On June 21, the California courts handed Ripple
a significant procedural victory in a class action
lawsuit concerning XRP. Ripple CEO Brad
Garlinghouse clarified the ruling, highlighting
that all class action claims were dismissed.
The ruling confirmed XRP's non-security status
and cleared Ripple of allegations of violating
federal securities laws with its