Crypto²

The SEC appeared likely to appeal the overall case.

key takes
•A federal judge imposed a $125 million fine on Ripple after finding last year that its institutional sales of XRP violated federal securities laws.
The judge reiterated her view that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate federal securities laws.

•A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday.

District Judge Analisa Torres, of the Southern District of New York, imposed the fine after finding that 1,278 institutional sale transactions by Ripple violated securities law, leading to the fine. The $125.035 million fine is well below the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties the SEC sought.

Wednesday's order on remedies follows the judge's July 2023 ruling in the case itself, finding that Ripple violated federal securities laws through its direct sale of XRP to institutional clients, though she also ruled that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate any securities laws.

The SEC tried unsuccessfully to appeal that portion of the ruling while the case was ongoing.

Judge Torres also banned Ripple from future violations of federal securities laws on Wednesday, saying that while she isn't making a judgement that Ripple has violated any laws after the SEC filed its lawsuit, the company may well "cross the line" in a section referring to Ripple's "on demand liquidity" offerings.

"Rather, the Court finds that Ripple’s willingness to push the boundaries of the Order evinces a likelihood that it will eventually (if it has not already) cross the line," she said. "On balance, the Court finds that there is a reasonable probability of future violations, meriting the issuance of an injunction."
The injunction document requires Ripple to file a registration statement if it intends to sell any.

The SEC is likely to appeal the July 2023 ruling now that the judge has imposed a sentence, after the same judge denied the SEC's motion for an interlocutory appeal last year.
The SEC and Ripple settled charges tied to CEO Brad Garlinghouse and other executives after that interlocutory appeal was denied.

Tocmai când credeam că piața nu poate deveni mai ciudată. Sesiunea de după-amiază a fost o surpriză. Te văd PPT. Jp... cam

Câteva date brute: • VIX a crescut la 65,73, acum situat la 34,11 • Indicii majori sunt încă în scădere cu peste 2% • GME dă dovadă de rezistență (m-am gândit că vor folosi acest lucru pentru a-l împinge în jos și pentru a încerca să-l mențină în jos) • Comerțul cu yeni se derulează încă în joc • Fitch a redus ratingul de credit din SUA • Volumul tranzacțiilor cu 30-45% peste media pe 20 de zile

Imaginea de ansamblu din perspectiva mea:

Piețele globale sunt mai conectate ca niciodată. Un sughiț în Japonia dă indigestie pe Wall Street.

The bitcoin price is staring at the death cross, a pattern that trapped bears on the wrong side of the market last September.
BTC's near-term prospects are closely tied to the health of the U.S. economy and volatility in the Japanese yen.
Some indicators are inherently lagging and offer limited predictive power, yet they consistently make headlines in traditional and crypto markets, often resulting in unnecessary panic among inexperienced investors.

One such example is the bitcoin (BTC) death cross, which tends to spark heightened fear and impulsive reactions on social media despite its poor record of accurately predicting future price trends. So get ready, because one seems to be on the way.

A death cross occurs when the 50-day simple moving average (SMA) of an asset's market price falls below the 200-day SMA. Right now, the bitcoin price's 50-day SMA is at $62,332 and falling, indicating a potential crossover with the 200-day SMA at $61,605.

The impending crossover indicates that short-term momentum, represented by the 50-day SMA, is underperforming the long-term average. This development is widely interpreted as a bearish signal and leads to catastrophizing – a cognitive distortion that prompts inexperienced traders to jump to the worst possible conclusion, often with limited information and understanding. Overreaction is typical, especially when sentiment is already sour, as in the BTC market. The cryptocurrency has dropped over 20% to $55,000 in one week, according to CoinDesk data.

In reality, the chart pattern only shows the nature of the price action over the recent 50 days. It doesn't guarantee future moves will follow in the same direction.

The previous death cross confirmed on Sept. 12, 2023, was a major bear trap. BTC bottomed out at $24,900 on the same day and never looked back, eventually reaching new record highs above $70,000 in March this year. Investors who'd positioned for further declines were caught out.

The previous nine death crosses have a mixed record, with only five presaging prolonged downtrends, as CoinDesk discussed last year.
To sum up, the death cross is unreliable as a standalone indicator. Bitcoin's near-term prospects largely depend on the U.S. economic data and the volatility in the Japanese yen. Continued demand for the yen in the foreign exchange markets may further dent carry trades and keep risk assets, including BTC, under pressure
BTC's daily chart (TradingView)

Piața bitcoin a trecut recent prin săptămâni marcate de frică și incertitudine, cu o scădere notabilă a prețurilor. În mijlocul acestei turbulențe, giganți precum Binance și alți investitori pricepuți pariază pe un viitor promițător pentru bitcoin. Au profitat de situație pentru a-și consolida rezervele de BTC. Mișcările lor strategice indică o perspectivă optimistă pe termen lung pentru cripto-ul lider

Acumulări strategice în timpul recesiunii
În ultimele săptămâni, piața bitcoin a cunoscut o volatilitate marcată de vânzări în panică. Această situație a fost agravată de lichidarea unui stoc semnificativ de bitcoin de către autoritățile germane și de rambursarea datoriilor Mt. Gox. În acest climat de incertitudine, Binance a luat o direcție opusă panicii generale. În loc să vândă, bursa cripto și-a crescut rezervele cu 41.000 BTC, ducând totalul său la peste 620.000 BTC.

All stablecoins are equal, but some stablecoins are more equal than others – Basel Committee.

Amended Crypto Asset Standard gives preferential treatment to permissioned stablecoins
Many in the crypto community have criticized the amendments for favoring banks
In recent months, regulatory authorities have expressed their position regarding various crypto assets. For instance, just this month, the CFTC declared that ETH, BTC and 80% of cryptocurrencies are not securities, although SEC considers the opposite.

Simply put, a sustained discussion is widely shaping the cryptocurrency space right now.

Another such development is the new ruling by the Basel committee, one giving permissioned stablecoins preferential treatment in the amended cryptocurrency asset standards.

Basel Committee’s amended Crypto Standards
The Basel Committee, the agency that deals with setting standards for bank regulations, has released the amended version of its crypto assets standards. Based on the Committee’s conclusion, permissioned stablecoins such as JPM Coin will receive classification under Group 1b.
The classification regarding Group 1b states that,

“subject to capital requirements based on the risk weights of underlying exposures as set out in the existing Basel Framework.”

However, other stablecoins such as Tether’s USDT and USDC are now classified under Group 2. They are thus subject to conservative capital treatment, which limits the exposure traditional financial institutions such as banks can have to them.

Simply put, the classification implies banks will have strict restrictions on their exposure to these assets.
Crypto community’s reaction
In light of the recent ruling and classification, the Basel Committee has received massive backlash from the crypto community. Various stakeholders have argued that the BIS is trying to kill tokenized cash markets while helping traditional banks.

Founder of Zero Knowledge, Austin Campbell is one of them. On his X page, he criticized the move, stating,

“The fact that @BIS_org is trying to rig the tokenized cash market for banks should be unsurprising, given that the literal first word B in BIS stands for is Bank. I said on @intangiblecoins podcast that private bank chains are a bridge to nowhere, and this sort of thing proves that I am correct – trying to win by rigging the game is what you expect when you cannot win by competing fairly.”

A wave of crypto regulations
In recent months, crypto regulations across the globe have become a norm. For starters, the European Union introduced MICA, a list of regulations that considerably impacted Tether’s USDT.
Additionally, as reported by AMBCrypto, Russia is now pushing a new mining bill that will affect individuals in crypto mining while allowing state control over Cryptocurrency markets.

On the other side of the world, Argentina and South Korea have proposed new crypto regulations too. In fact, Argentina’s regulations will have a massive impact on stablecoins as the country moves to dollarize the economy.

Impact on stablecoins
The recent ruling will have a major impact on stablecoins markets. Reduced institutional investments in stablecoins such as USDT might change the market landscape. As noted by Amit Jaswal on X,

“Interesting move by the Basel Committee! Giving permissioned stablecoins preferential treatment could shift the crypto landscape.”
The move will disadvantage the stablecoins, thus jeopardizing the stablecoin markets with reduced inflows and institutional interests.

$BNB s-a confruntat cu turbulențe în cursa actuală, deoarece prețul BNB nu reușește să lase câștiguri impresionante. Investitorii sunt atrași de platforme sustenabile care oferă un potențial de creștere mai mare în comparație cu BNB. Astfel, DTX Exchange iese învingător în spațiul DeFi datorită creșterii sale fără precedent.

Platforma de tranzacționare a strâns cu succes 1 milion de dolari în etapa 2 de prevânzare. De asemenea, a depășit 6.000 de portofele într-o zi, doborând astfel recordurile stabilite de Uniswap (UNI). Performanța de piață a DTX Exchange este comparată cu Uniswap (UNI) datorită impulsului său în creștere.

Amidst the slowdown in the price of Bonk (BONK), fellow memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) have shown bullish potential in the past few days. Meanwhile, with the next bullish season approaching, investors are taking advantage of ETFSwap’s (ETFS) potential for significant gains.
Memecoins Dogecoin (DOGE) And Shiba Inu (SHIB) Show Bullish Potential Despite BONK Challenges
Dogecoin (DOGE) and Shiba Inu (SHIB) have both experienced price surges, indicating the potential for a bullish run among the meme coins. In contrast, the price of Bonk (BONK) has been consolidating within the past week, reflecting the impact of price decreases on altcoins.
The dog-themed meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), were trading at $0.11754 and $0.00001790, respectively, after reaching a low on July 4th, according to data from CoinGecko. Meanwhile, Bonk’s (BONK) price faced resistance at $0.00002700 after a rally on July 4th and is currently trading at $0.00002400.
Over the past few months, Bonk (BONK) has seen a decrease in market capitalization from $3 billion to a disappointing $1.65 billion. According to the CMF indicator, which is used to gauge buying and selling pressure for cryptocurrencies, the CMF value of Bonk (BONK) below zero suggests that sellers are more active, pushing the price further down.
Investors have reacted unfavorably to the consolidation and Bonk’s (BONK) failure to surpass resistance levels from the previous week. This is obvious in the meme coin’s funding rate turning negative, indicating that more capital is flowing out of the token and reflecting bearish sentiment among investors.
Dogecoin (DOGE) and Shiba Inu (SHIB) have surpassed last week’s resistance level, suggesting a potential increase in price for these meme coins, especially Shiba Inu (SHIB). Renowned crypto analyst Trader Tardigrade announced this via X (formerly Twitter) and highlighted Dogecoin’s chart pattern from the past in an X (formerly Twitter) post.
The descending pattern has occurred twice in Dogecoin’s (DOGE) chart pattern in the past. The technical chart pattern signals a downward correction in the overall upward price trend. A breakout above the correction level signals a bullish rally for the token. Tardigrade affirmed that the meme coin is repeating the same pattern and may soon experience a bull run.
ETFSwap (ETFS) Will Dominate The Bullish Season Without a Doubt
ETFSwap (ETFS) integrates Decentralised Finance (DeFi) with ETF trading, allowing traders to enjoy trading tokenized ETFs in a secure environment. Additionally, the platform mirrors the value of traditional ETFs in tokenized versions, allowing investors to expand their reach.
As pioneers in this innovative space, ETFSwap (ETFS) enables users to invest in a wide range of real-world assets through tokenized ETFs, providing increased liquidity and market accessibility. Additionally, ETFSwap (ETFS) facilitates efficient trading and profitability by minimizing slippage and offering tight spreads so buy and sell orders are always taken at the best possible prices.
ETFSwap (ETFS) provides AI-powered analytical tools and real-time market data, empowering users with comprehensive market insights to make informed decisions and respond quickly to market changes. This ensures that traders and investors have greater control over their portfolio investments.
ETFSwap (ETFS) prioritizes user confidence by implementing robust security measures designed to safeguard user information and investments. Additionally, ETFSwap (ETFS) has completed Know Your Customer (KYC) verification conducted by SolidProof, a smart contract security auditing firm. This verification process enhances trust in the platform by confirming the identity of the team, and reassures investors that their investments are in safe hands.
Conclusions
As investors struggle with altcoins and Bonk (BONK), Dogecoin (DOGE) and Shiba Inu (SHIB) offer bullish investment opportunities. ETFSwap (ETFS) is another cryptocurrency gaining attention on social media. Its native coin is currently in presale and is priced at $0.01831. Buy the presale now to access a 50% bonus by using the promo code “ETFS50.”