Cryptocurrency exchange Crypto.com announced Tuesday that it had filed a lawsuit against the United States Securities and Exchange Commission (SEC), its chairman Gary Genlser, and its four commissioners after receiving a notice that the regulator intends to bring an enforcement action against the company. The legal move, according to Crypto.com, aims to protect the future of the American crypto industry.
Crypto.Com Sues SEC After Receiving Legal Threat From Regulator
Crypto.com has initiated a suit against the Securities and Exchange Commission, claiming that it overstepped its authority by calling most cryptos securities.
In a post sharing the lawsuit news, the exchange revealed that it had been slapped with a Wells notice by the SEC. Wells notices are preliminary warnings informing recipients of the charges the Wall Street watchdog is mulling against them.
“Our decision to sue the SEC follows our receipt of a Wells notice from the Commission staff,” the Crypto.com statement reads, “illustrating that the SEC’s unauthorized and unjust regulation by enforcement campaign continues despite bipartisan indications that the next Administration will take a more constructive and effective approach to advancing crypto in the U.S.”
Crypto.com admitted that filing a lawsuit against the SEC was unprecedented for the company but maintained that the Commission’s actions left them “with no other choice.”
Crypto.com also contends that the SEC has “unilaterally expanded its jurisdiction beyond statutory limits.”
Crypto.Com Accuses SEC Of Overreach
In the suit, Crypto.com accuses the SEC of “inventing the term Crypto Asset Security out of whole cloth to expand its jurisdiction over the digital asset industry.”
“The term has no foundation in the Securities Act or Exchange Act,” it continued, “nor does it resemble any financial instrument defined by those laws.”
The exchange further noted in its suit that the SEC threatened enforcement action against the company “in regard to secondary-market sales of network tokens on its platform.” The agency has targeted popular tokens such as Solana (SOL), Cardano (ADA), Binance Coin (BNB), Filecoin (FIL), Flow (FLOW), Internet Computer (ICP), Cosmos (ATOM), Algorand (ALGO), Near (NEAR), and Dash (DASH).
“We are doing so to protect the future of the crypto industry in the US, joining a series of our peers who are actively defending themselves and taking action against a misguided federal agency acting beyond its authorization under the law,” Crypto.com’s official announcement postulated.
It pays to remember that the SEC has gone after countless prominent crypto-focused firms throughout the tenure of its Chair Gary Gensler, who took office back in 2021. Other major industry targets include Coinbase, Binance, Ripple, and Consensys.

Tron price is holding gains above the $0.1560 zone against the US Dollar. TRX is outperforming Bitcoin and could start a fresh increase above $0.1600.
Tron is stable and holding gains above $0.1560 against the US dollar.The price is trading below $0.1580 and the 100-hourly simple moving average.There is a key bullish trend line forming with support at $0.1585 on the hourly chart of the TRX/USD pair (data source from Kraken).The pair could continue to climb higher toward $0.1620 or even $0.1650.
Tron Price Remains Supported
Recently, Bitcoin and Ethereum saw a fresh decline below $62,000 and $2,400 respectively. However, Tron price remained stable above the $0.1560 support.
The price climbed higher above the $0.160 resistance level. A high was formed at $0.1618 and recently there was a downside correction. The price dipped below the $0.1600 level. There was a move below the 23.6% Fib retracement level of the upward move from the $0.1555 swing low to the $0.1618 high.
TRX price is now trading above $0.1580 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1585 on the hourly chart of the TRX/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.1555 swing low to the $0.1618 high.

On the upside, an initial resistance is near the $0.160 level. The first major resistance is near $0.1620, above which the price could accelerate higher. The next resistance is $0.1650. A close above the $0.1650 resistance might send TRX further higher toward $0.1685. The next major resistance is near the $0.1700 level, above which the bulls are likely to aim for a larger increase toward $0.1720 in the near term.
Are Dips Supported in TRX?
If TRX price fails to clear the $0.1600 resistance, it could start a downside correction. Initial support on the downside is near the $0.1585 zone and the trend line.
The first major support is near the $0.1570 level, below which it could test $0.1550. Any more losses might send Tron toward the $0.1520 support in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for TRX/USD is losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for TRX/USD is currently below the 50 level.
Major Support Levels – $0.1585 and $0.1570.
Major Resistance Levels – $0.1600 and $0.1620.

Oct 10, 202404:08 UTC
XRPBTC−0.12%
XRPUSD+0.25%
XRPUSDT+0.64%
XRP price is still trading in a range below the $0.550 level. The price is slowly moving lower and there could be more downsides below $0.520.
XRP price is still stuck in a range above the $0.5080 support.The price is now trading below $0.5300 and the 100-hourly Simple Moving Average.There is a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair could gain bullish momentum if it clears the $0.5300 and $0.5320 resistance levels.
XRP Price Dips Further
XRP price failed to start a fresh increase above the $0.5350 resistance. It started another decline and traded below the $0.5250 support level.
However, losses were limited compared to Bitcoin and Ethereum. A low was formed at $0.5210 and the price is now consolidating losses. There was a minor increase within a range and the price climbed above the $0.5250 resistance.
The price cleared the 23.6% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low. The price is now trading below $0.5320 and the 100-hourly Simple Moving Average.
If there is another increase, the price might face resistance near the $0.5300 level. There is also a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low.
The first major resistance is near the $0.5350 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5650 resistance or even $0.580 in the near term. The next major hurdle might be $0.600.
More Losses?
If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is near the $0.520 level.
If there is a downside break and a close below the $0.520 level, the price might continue to decline toward the $0.5150 support in the near term. The next major support sits near the $0.5080 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $0.5220 and $0.5200.
Major Resistance Levels – $0.5350 and $0.5450.

Crypto ownership has significantly increased among retail investors since 2020, says the Board of the International Organization of Securities Commissions (IOSCO), which called for more investor education about the space.
Fifteen out of 24 surveyed jurisdictions reported up to 10% or more of retail investors owned crypto last year, while six jurisdictions reported up to 30% or more crypto ownership, according to an Oct. 9 IOSCO report.
It’s a steep increase from 2020 when half of the responding jurisdictions estimated between 1% to 5% or less of investors owned crypto.
“Since 2020, the crypto-asset space has continued to evolve,” IOSCO wrote. 
“Despite volatility in the market, which experienced a major downturn during the 2022 ‘crypto winter,’ retail investors, in both advanced economies and emerging market jurisdictions, continue to invest in the crypto-asset market,” it added.
IOSCO said there are still risks and concerns over crypto market volatility, lack of investor understanding, lack of regulations, and scams and fraud.
These concerns remained similar to those identified in the 2020 report, it noted.
The report also highlighted the increased risks and challenges in the crypto market since 2020, emphasizing the need for stronger investor protection and education measures.
Over the past four years, there have been several high-profile failures and bankruptcies, a long bear market with markets plunging 73% from their previous highs, and a surge in scams, hacks, and investor losses — all alongside increased regulatory and enforcement actions in the crypto space.
Despite this, retail investors remain keen on crypto assets, IOSCO said.
“Over the last four years, numerous surveys, studies, and reports have found increasing interest by investors, particularly new investors, in crypto-assets.”
Retail investors who have bought crypto tend to be younger — typically under 40 years old — and male, the report noted.
In the United States, for example, nearly three in five investors under 35 years old considered a crypto investment, while over half had already invested.
Around 44% of the Gen Z cohort in America — 18 to 25-year-olds— started by investing in crypto, the report said.
New to the scene investors are also more likely to invest in crypto, compared to established investors, IOSCO noted. 
IOSCO’s report cited the main motivations for investing in crypto as fear of missing out (FOMO) or speculation, low cost of entry, and advice from friends and social media.

BTCUSD+0.55% BTCUSDT+0.27%
The recent Bitcoin price action appears to have caught the attention of market analysts, with a particular focus on its positioning between key psychological levels.
A CryptoQuant analyst under the pseudonym “datascope” recently posted on the CryptoQuant QuickTake platform, providing an in-depth analysis of Bitcoin’s current price movements.
The analyst highlighted that Bitcoin is at a critical psychological turning point, where market sentiment could shift towards optimism or pessimism based on its trajectory.
Bitcoin Historical Patterns Suggest Optimism Could Persist
According to datascope, Bitcoin’s price, which currently trades just above $62,000 is sitting in a range where historical data suggests that the market participants’ outlook can sway in either direction, depending on whether they are in profit.

The analyst further explained that as long as Bitcoin stays within this critical range, the chances of a significant price decline are minimal. This “zone of optimism” range has been a determining factor in previous bull markets, most notably in 2016 and 2020.
The CryptoQuant analyst emphasized that the “Supply in Profit” metric, which measures the portion of Bitcoin’s circulating supply held by investors who are in profit, is a vital indicator in understanding market sentiment.
In the past, whenever a significant portion of Bitcoin’s supply was in profit, it resulted in an optimistic outlook, supporting the price to push higher. Bitcoin’s current position within this zone of optimism suggests that a continued rally could be in store if the price maintains stability.
Looking back at historical bull markets, the analyst pointed out that during the bull runs of 2016 and 2020, Bitcoin maintained its position between a psychological turning point and the optimism zone, allowing the market to enter a sustained upward trend.

Key Indicators To Watch Moving Forward
In addition to the “Supply in Profit” metric, the CryptoQuant analyst suggests monitoring the overall market sentiment and Bitcoin’s price movements in the coming days.
Should Bitcoin stay within this critical psychological range, it is less likely to experience a significant price drop. However, if Bitcoin fails to hold this zone and breaks below, market sentiment could turn bearish, leading to a further price decline.
The analysis suggests that Bitcoin’s current price behavior largely depends on market participants’ psychology, and this psychological turning point will likely dictate the next major move.

Wrapped Bitcoin WBTC — a tokenized version of Bitcoin that exists on the Ethereum network and is redeemable for BTC at a 1:1 ratio — has completed a shift to a geographically distributed custody structure.
Control of the underlying Bitcoin will now be shared between Singapore, Hong Kong, and the United States in a partnership agreement between BitGo and BiT Global.
The new custody structure uses a multisignature agreement, which requires two signatures to approve any transaction and shift funds from the wallet. Following the successful pivot to multi-jurisdiction custody, BiT Global issued this statement:
“With diversified geographical jurisdiction that includes the United States, Hong Kong, and Singapore, we ensure that no single jurisdiction/entity controls the custody of wrapped Bitcoin assets.”
The transition has not affected how Wrapped Bitcoin works on the user side; however, the announcement sparked concerns from some users over Justin Sun’s involvement in the custody arrangement.
The Sky community votes to drop WBTC as a collateral asset
Sky — a decentralized lending platform formerly known as Maker — first proposed dropping WBTC as a collateral asset in an Aug. 9 post in the governance section of its community forum due to Sun’s purported involvement in the project.
At the time, the BA Labs team cited Sun’s previous involvement with the TrueUSD (TUSD) stablecoin as concerning and argued that it warranted limiting the platform’s exposure to WBTC:
"Since TUSD was placed into Justin Sun’s control, it has seen market deterioration in operational processes and transparency, including the resignation of the previous management team, suspension of real-time proof of reserves, and several significant depegs caused by interruptions in redemption service."
Following a governance vote on Sept. 19, the Sky community voted to remove WBTC as a collateral asset from the platform — with 88% voting in favor of dropping the tokenized asset.
However, despite the results of the vote, Sky is now reconsidering removing WBTC from the platform following a conversation with BitGo co-founder Mike Belshe, who assuaged community fears about the new custody arrangement.

#SUI🔥 is experiencing a notable pullback after its recent rally, with multiple key support levels coming into focus. As the price edges lower, these areas will play a pivotal role in determining whether the asset can regain its bullish momentum. A strong defense of these supports could signal the start of a fresh upward move, while a failure to hold may lead to deeper declines.
This article aims to assess SUI’s recent price pullback and explore critical support levels that could trigger a potential bullish reversal. By analyzing technical indicators and market conditions, it seeks to provide insights into possible recovery scenarios, highlighting the levels to watch for a sustained upward movement or further downside risk.
Recent Price Action: SUI’s Decline Explained
Recently, SUI’s price has taken a bearish turn on the 4-hour chart, following a rejection at the $2.1 resistance level. Despite this decline, the cryptocurrency remains above the 100-day Simple Moving Average (SMA), indicating that a recovery may be possible, provided buyers regain control and the market shifts back in favor of the bulls.

An analysis of the 4-hour Relative Strength Index (RSI) suggests that bulls could be preparing for a resurgence. Although the RSI has slipped to 55% from the overbought zone, it remains above the crucial 50% mark, indicating that bullish momentum persists. This positioning reflects a temporary slowdown, but as long as the RSI holds above this threshold, the market retains the potential for renewed upward movement.
Also, on the daily chart, SUI is exhibiting signs of negative pressure, trading above the 100-day SMA. While the price remains above the SMA, this current bearish movement could be short-lived, as there remains a possibility for a price recovery. The positioning above the SMA implies that buyers could step in to reverse the trend if they regain control, potentially leading to a rebound in price.

Finally, on the 1-day chart, a closer examination of the RSI formation indicates that SUI’s price may experience further declines, as the signal line has descended to 69% from the overbought territory. However, there is the possibility of a bullish comeback if the RSI can maintain its position above the 50% threshold.
Key Support Levels: Where Could SUI Buyers Step In?
SUI is approaching critical support levels that could attract buyers and trigger a recovery. The initial key level to monitor is the $1.4 support zone, which could serve as a critical point for renewed bullish interest.
Should buyers step in at this level, SUI might rebound toward the $2.1 resistance mark. A successful breakout above this resistance could pave the way for the formation of a new all-time high, signaling a strong resurgence.
However, if the $1.4 support level fails, the next critical area to watch is around the $1.1 mark, where a stronger base of support could form as the price continues to decline. Maintaining these levels is crucial since it will determine whether SUI can regain upward momentum or remain vulnerable to more bearish pressure.