📉 Following the historic approval of 11 bitcoin ETFs last week, including those by ARK Invest, BlackRock, Grayscale, and VanEck, crypto prices have continued to slide. Bitcoin has retreated to around $41,500, echoing its early December levels. Looking ahead to 2024, the crypto community anticipates the April halving event and growing institutional participation to influence Bitcoin’s trajectory 🌐📊.
💬 Amidst the ETF excitement, IMF Chair Kristalina Georgieva cautioned investors, underscoring that crypto isn’t comparable to traditional money but rather an investment vehicle. Her comments on crypto’s long-term potential and its inability to rival the dollar in significance have stirred discussions in the financial world 🌍💰.
When they show fear, we are winning!
⚖️ The legal battle between Coinbase and the SEC intensifies as a judge refuses to dismiss the SEC’s lawsuit. This case progression sets a precedent in cryptocurrency regulation, highlighting the urgent need for clear guidelines within the crypto industry 🚨🏛️.
📉 In the exchange landscape, Binance’s market share has dipped below 50%, with OKX and ByBit capitalizing on this downturn to increase their market shares. This shift illustrates cryptocurrency exchanges’ dynamic and competitive nature amidst regulatory challenges and evolving market conditions 🔄🔽.
This period in crypto is not just about price movements but also involves critical regulatory dialogues, legal battles, and shifting dynamics in exchange market shares, painting a multifaceted picture of the sector’s ongoing evolution 🌐🔑.
Let’s dive into this week’s heavy hitters:
📰 IMF Chair Asserts Crypto Is Not Money Amid ETF Buzz
The surging popularity of the cryptocurrency industry has often drawn evaluation from prominent figures in the global financial sector, ranging from commendations to critiques.
Joining the ranks is the International Monetary Fund’s (IMF) managing director, providing insights on the current state of the asset class and its enduring potential.
Read more on DailyCoin: https://dailycoin.com/imf-chair-asserts-crypto-is-not-money-amid-etf-buzz/
📰 SEC Approves Do Kwon and Terraform Labs Trial Delay Request
The Securities and Exchange Commission (SEC) has recently intensified its long-standing legal battle against Do Kwon and Terraform Labs in pursuit of justice for the alleged manipulation that triggered the collapse of TerraUSD and a staggering $60 billion loss for the industry.
Read more on DailyCoin: https://dailycoin.com/sec-approves-do-kwon-and-terraform-labs-trial-delay-request/
📰 No Decision on Coinbase vs. SEC Case, Legal Battle Continues
In the crypto space, regulatory clarity remains a crucial yet elusive goal. In this unclear regulatory environment, Coinbase has found itself on the receiving of a high-stakes lawsuit from the U.S. Securities and Exchange Commission (SEC).
Read more on DailyCoin: https://dailycoin.com/no-decision-on-coinbase-vs-sec-case-legal-battle-continues/
📰 Binance Dips Below 50% Market Share, OKX and ByBit Gain
Binance has long stood as a giant in crypto, dominating the industry. However, 2023 witnessed a subtle yet significant shift, cutting into the market share of the dominant exchange.
Over the past year, Binance’s market share dipped below the 50% mark for the first time. As Binance faced regulatory issues, other exchanges, notably OKX and Bybit, expanded their influence.
Read more on DailyCoin: https://dailycoin.com/binance-dips-below-50-market-share-okx-and-bybit-gain/
📰 Solana Praised by Finance Giant Franklin Templeton
Blockchain and digital assets are continually evolving, with major financial institutions starting to jump in.
Among these, Franklin Templeton, a global leader in asset management, has recently allowed its Digital Assets (DA) team to express their insights, naming Solana among other tokens.
This development reflects a growing recognition of the potential of blockchain technology within the traditional financial sector.
Read more on DailyCoin: https://dailycoin.com/solana-praised-by-finance-giant-franklin-templeton/
📰 No Ripple IPO Plans for Now Due to SEC, Garlinghouse Confirms
Ripple, the blockchain company behind the XRP cryptocurrency, has put its highly anticipated initial public offering (IPO) on hold for the foreseeable future.
While the company initially considered listing outside the U.S. due to regulatory concerns, CEO Brad Garlinghouse revealed in a CNBC interview at the World Economic Forum that the IPO is no longer a priority.
Read more on DailyCoin: https://dailycoin.com/no-ripple-ipo-plans-for-now-due-sec-garlinghouse-confirms/
