🚀 SEC Drops Coinbase Case – New Era of Crypto Market Regulation?
The US Securities and Exchange Commission (SEC) has dropped its lawsuit against cryptocurrency exchange Coinbase, which is accused of operating without the required registration. This decision follows a change in the agency’s leadership.
Acting SEC Chairman Mark Ueda said that the Commission needs to review its approach and develop a more transparent policy regarding cryptocurrencies.
For Coinbase, this case was a key legal challenge regarding the definition of securities and exchange registration rules. However, the final answers to these questions depend on further actions by the US Congress.
The decision to drop the case is part of the overall strategy of the new SEC leadership, which is also closing similar investigations into other crypto companies, including Robinhood and Uniswap.
Recall that in June 2023, the SEC filed a lawsuit against Coinbase, accusing the platform of violating securities laws and operating without registration. In response, the exchange argued that the SEC's actions exceeded its authority and repeatedly requested clarification on how securities laws were applied.
During the proceedings, Coinbase filed a motion demanding the provision of internal correspondence and documents that formed the basis of the lawsuit.
☄️ Against the backdrop of the ongoing correction in the cryptocurrency market, the fear and greed index has dropped to 10 points, which corresponds to the extreme panic zone. The last time such values were observed was in June 2022.
🗓 On February 26-27, the price of Bitcoin reached a local minimum of $82,256 on the Binance exchange, falling by more than 11% over the past seven days.
✊ The presumed cause of market instability is the deterioration of the macroeconomic situation, in particular, the introduction of a 25% tariff on trade with the EU by U.S. President Donald Trump, which has also negatively impacted the S&P 500 index.
CryptoQuant CEO Ki Young Ju urged market participants not to succumb to panic, reminding them that corrections of 30% are a common occurrence in Bitcoin's bull cycle.
✏️ Previously, Bitfinex analysts referred to the current Bitcoin correction as "critical," noting the increasing correlation of the first cryptocurrency with traditional financial markets and the decrease in investor activity amid macroeconomic instability.
💸 Strategy acquired another 20,356 BTC for $1.99 billion
🕯 The company Strategy (formerly MicroStrategy) increased its Bitcoin holdings by purchasing 20,356 BTC at an average price of $97,514 per coin. The firm's balance now holds 499,096 BTC, acquired for $33.1 billion, with an average cost of $66,357 per unit.
🔽 The purchase was financed through the issuance of convertible bonds worth $2 billion, which received a 35% premium. Despite actively increasing Bitcoin reserves, Strategy's (MSTR) shares fell by 5.86% and lost 18.7% over the month.
Bernstein predicts that by 2033, Strategy will own 4% of the total Bitcoin supply — 830,000 BTC at a price of $1 million per coin.
🦊 Metamask hints at the launch of a Mastercard crypto card
💳 Metamask developers hinted at the upcoming launch of their own debit card in partnership with Mastercard.
🌐 If the information is confirmed, this could significantly simplify the use of cryptocurrencies in everyday payments, expanding access to Web3 for a wider audience.
🔽 CryptoQuant analysts have recorded a decline in activity on the Bitcoin network, which may indicate investor caution ahead of further market movements.
📊 If the situation does not change, BTC may enter a protracted consolidation phase, which will hinder growth in the short term.
📈 Bybit has fully restored its ETH reserves after the largest hack
📌 Cryptocurrency exchange Bybit has officially announced that it has fully restored its Ethereum reserves lost in the attack on February 21. Then hackers withdrew more than $1.5 billion in ETH, temporarily reducing the platform's reserves from 439,000 ETH to 61,000 ETH.
💡 Despite the large-scale hack, Bybit continued to operate as usual, without delays in withdrawals. According to independent auditor Hacken, the exchange's assets exceed its liabilities, which confirms the financial stability of the platform.
Coinbase CEO Brian Armstrong said the SEC may drop charges against the exchange.
🗓 The final decision depends on the approval of the commissioners, but Coinbase is optimistic.
🏆Why is this important?
🔹 SEC Drops Unregistered Trading Claims 🔹 This is a win not only for Coinbase, but for the entire crypto industry 🔹 The company emphasized the need for clear legislation for the US to lead in crypto
🔥 If the case is closed, it will be a strong signal for the regulation of the crypto market in the US!
South African Altvest Capital Plans has announced plans to buy $10 million worth of BTC, marking the first such move on the continent.
📉 Bloomberg: Some Dying Companies Are Using Bitcoin as a Last Resort, Not Investing in Business Development, but Trying to Draw Attention to Their Stocks.
🛄 Sui Foundation: 2025 will be a turning point in technology convergence
🎤 Christian Thompson, Managing Director of Sui Foundation, stated that the integration of AI agents, blockchain, robotics, and AR/VR will create new opportunities in 2025.
🔺 Partnership with South Korean NHN and Xociety for the integration of Web2 and Web3 🔺 Plans for global expansion in the UAE, Vietnam, Greece, and Africa 🔺 Announcement of the first blockchain console SuiPlay0X1 for $599 – already 7000 pre-orders ⚡️ Future technologies are coming together – preparing for new breakthroughs in the industry!
💥 Popular crypto analyst PlanB got rid of all his BTC and transferred his capital to a Bitcoin ETF.
📌 Why did he do it?
🔹 Convenience - no need to store private keys anymore 🔹 ETFs offer liquidity and ease of investing
PlanB's decision caused controversy in the community, as he has long been one of the main supporters of BTC. Is this a sign of a change in trend or just a personal choice? 🤔
🥂 From the Memcoin Scam to the Impeachment of the President of Argentina — What's Wrong with the LIBRA Token?
The President of Argentina publicly supported the launch of the LIBRA token, but a few hours later its price fell by 99%, causing a political scandal.
🔍 What is known?
🔸 The opposition is demanding the impeachment of the president, accusing him of involvement in a multi-million dollar ragpool. 🔸 The creators of the token earned hundreds of millions of dollars before the token depreciated. 🔸 An investigation is underway, identifying the key figures in the scheme and their possible connections to politicians.
🔥 LIBRA has become one of the most high-profile crypto scandals in the history of Argentina, putting not only the market but also the country's government at risk.
🌐 Key economic events this week ❗️ Time zone GMT +3
✊ The key event of the upcoming week will be the speech by US President Donald Trump (February 18), which may impact the markets, especially in light of recent economic initiatives.
🔈 The Federal Reserve will publish the minutes of its meeting (February 19) – investors will be looking for signals regarding the further course of monetary policy.
📉 On February 20, unemployment data and the Philadelphia Fed Manufacturing Index will be released, which may indicate the current state of the economy.
📈 On February 21, the market will assess the PMI data in manufacturing and services, as well as the volume of sales in the secondary housing market, which will be an important indicator of the state of the US economy.
😍From the bottom of my heart, I congratulate you on this bright holiday of love. May this day bring you happiness, warmth, and of course, love for the world, loved ones, and crypto.
🤑We all adore cryptocurrency, but even more, we love to earn crispy bucks from it. And this is what unites us. Crypto loves us too — in different ways, but passionately.
❤️🔥I adore my community and sincerely hope that this is mutual. Sending big hugs to everyone.