The strange pre-market surge in GameStop (GME) stock trigger | The Crypto Basic on Binance Square

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The strange pre-market surge in GameStop (GME) stock triggers a 3,914% spike in a Solana meme coin of the same name within 2 days. 

#SolanaStrong #Crypto #CryptoNewssCommunity #CryptoNews” 

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Former Commodity Futures Trading Commission Chair Chris Giancarlo asserts that the SEC shares some of the blame for the dominance of memecoins in the current market cycle. Amid the dominance of memecoins in crypto over the past year, a key question has become what is driving the rise. While the discussion has long been around the allure of the sector’s high reward potential, disillusionment with the promise of altcoins, and worsening economic conditions, a rising theory suggests that regulators, specifically the Securities and Exchange Commission, could also be to blame. A Disruption in Crypto’s Natural Evolution Former Commodity Futures Trading Commission Chair Chris Giancarlo has asserted that the SEC shares some of the blame for the dominance of memecoins in the current market cycle. Giancarlo shared this view while speaking on a recent episode of the Thinking Crypto podcast, citing the agency’s barrage of enforcement actions with altcoins at the center. “They [the SEC] attacked anything with value associated with it. So they created a landscape where memecoins effectively worthless were the only thing you could do,” he asserted. The former top market regulator argued that the SEC’s so-called crypto regulation by enforcement campaign, which he slammed as an “abuse of authority,” had retarded the industry’s natural evolution. #CryptoNewss

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The New York Stock Exchange (NYSE) has requested that the US SEC allow staking services on the Grayscale #Ethereum ETFs. In a Friday filing, the market operator submitted a 19b-4 application to the US Securities and Exchange Commission (SEC) requesting a rule change. The NYSE seeks to amend the provisions of the pre-approved Grayscale Ethereum ETFs to include staking services. Staking services involve locking up an underlying asset—in this case, Ethereum—to become a validator and contribute to the stability and security of a network. In return, the staked tokens yield passive rewards to participants. Grayscale ETFs Eyes Staking Services If approved, the rule change would provide additional rewards for holders of the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust. Notably, the average staking reward for Ethereum ranges between 3% and 4% APY. The filing insists that the proposal does not contravene any existing securities law. The exchange noted that the intended staking model differs from delegated staking or staking as a service, which the US SEC currently classifies as a security. Notably, the securities regulator, under Gary Gensler, suggested that staking activities on the Ethereum network constitutes unregistered securities. Although the agency approved applications for an Ethereum spot ETF last year, it mandated issuers not to stake their Ether stash, citing federal securities law. Bloomberg ETF analyst James Seyffart suggested that the US SEC will decide on the proposed rule change by the fourth quarter of the year. 4Q 2025 potentially. Lotta moving parts with this one. — James Seyffart (@JSeyff) February 14, 2025

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The U.S. SEC has recognized another #XRP ETF filing, bringing the product one step closer to approval. On Friday, the regulatory agency acknowledged the XRP ETF application from asset manager 21Shares. This comes just a day after it recognized Grayscale’s XRP ETF application. This development has sparked significant excitement within the XRP community, as many see it as a sign that approval is imminent. With the latest acknowledgment, the SEC still has three other Form 19b-4 XRP ETF applications to consider. Notably, Cboe BZX Exchange filed 19b-4 forms for the XRP ETFs of Bitwise, Canary, 21Shares, and WisdomTree seven days ago. Since the SEC has now acknowledged one of these filings, the crypto community may see similar recognition for the other three next week. What’s Next for XRP ETFs? Notably, the SEC’s acknowledgment of the XRP ETFs from Grayscale and 21Shares does not equate to automatic approval, nor does it guarantee that the SEC will approve them in the future. Nevertheless, this development is significant because it signals the SEC’s willingness to consider these products rather than outright rejecting them. Recall that in December, exchanges withdrew their Solana 19b-4 applications after the Gary Gensler-led SEC indicated it would not engage with them. Under the Mark Uyeda-led SEC, this new acknowledgment essentially gives the XRP ETFs a shot at approval. This opens the path for them to compete with existing Bitcoin and Ethereum products. Following the SEC’s acknowledgment, a 240-day window—roughly eight months—now begins. Specifically, the 240-day timeline for a decision on the Grayscale and 21Shares XRP ETFs will start once the filings are posted to the Federal Register, which is expected to happen in the next few days, according to FOX Business correspondent Eleanor Terrett. Essentially, the XRP community could be looking out for a decision on XRP ETFs in the last quarter of the year. XRP Price Reacts : XRP jumps 8% to $2.76 today, boosting its weekly gain to 17%. #CryptoNewsCommunity

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