‘No clear catalyst’ for bloodbath as top altcoins fall double digits

June 18, 2024 Coin Telegraph

10xResearch

Crypto market analysts suggest the altcoin stumble may be tied to a recent spate of spot Bitcoin ETF outflows.

Crypto markets tumbled into a sea of red on Monday as some altcoins bled more than 10%, with an industry analyst telling Cointelegraph that there’s “no clear catalyst” to explain why.

The crypto market cap has fallen to $2.46 trillion, down 3.5% over the last 24 hours. Shiba Inu (SHIB) and Avalanche (AVAX) have been the hardest hit altcoins among the top 20 by market cap on June 17, falling 12.7% and 10.6% during the day, CoinGecko data shows.

Uniswap (UNI) and Dogecoin (DOGE) also saw a double-digit drop, while Solana’s (SOL) dipped 9.4%. Ripple’s XRP (XRP) was the only non-stablecoin not in the red, though it only saw a minor 0.1% increase.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded

June 17, 2024 Coin Telegraph

Terraform Labs to shut down after .5B SEC settlement: Law Decoded

Australia

Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

Terraform Labs has agreed to pay the United States Securities and Exchange Commission (SEC) roughly $4.47 billion as part of its settlement with the securities regulator. The duo settled after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.

Chris Amani, CEO of Terraform Labs, has announced that the firm will cease operations following the settlement. The company plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

In other news, lawyers for blockchain payments company Ripple have asked a court to consider an “appropriate” civil penalty in its case with the SEC following a settlement between the regulator and Terraform Labs. The SEC has requested that Ripple pay roughly $2 billion in disgorgement, prejudgement interest and civil penalties. Ripple has argued it should pay no more than a $10 million penalty.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Price analysis 6/17: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

June 17, 2024 Coin Telegraph

ada

Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.

The S&P 500 Index (SPX) has been trading near its all-time high, but Bitcoin (BTC) has gradually given up ground in the past few days. This suggests that supply exceeds demand in Bitcoin. According to Farside Investors data, spot Bitcoin exchange-traded funds have seen outflows for four of the five days since June 10.

However, analysts point out that long-term investors have not panicked and continue buying. Market intelligence firm Santiment shows that the number of wallets with 10 BTC or more has hit 16.6 million, the highest level since June 2022.

Although Bitcoin looks weak in the near term, it remains stuck inside a range and is likely to witness buying at the support. The longer the time spent in a range, the greater the force needed for the price to break out from it.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Ripple Legal Chief Countered SEC Allegations: No Victims to Compensate

June 17, 2024 Bitcoin.com

bitcoin.com

Ripple’s chief legal officer has countered the U.S. Securities and Exchange Commission (SEC)’s allegations following the crypto firm’s proposal to limit its penalty to no more than $10 million. The legal chief highlighted that the SEC is “raging” and emphasized that, unlike the Terraform Labs case, there are no victims to compensate in Ripple’s case. […]

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

SEC Now Demands $102.6 Million Penalty From Ripple in XRP Case

June 16, 2024 Bitcoin.com

SEC Now Demands 2.6 Million Penalty From Ripple in XRP Case

bitcoin.com

The U.S. Securities and Exchange Commission (SEC) is now pursuing a $102.6 million penalty from Ripple, a substantial reduction from the nearly $2 billion originally sought. Ripple recently proposed a $10 million penalty, citing the Terraform Labs settlement as justification. However, the SEC countered that such a low penalty “would not satisfy the purposes of […]

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Ripple Cites New Terraform Labs Settlement in a Bid To Convince the Court To Lower the SEC’s Civil Penalty

June 15, 2024 The Daily Hodl

Daily Hodl

Ripple is pointing to the recent Terraform Labs settlement in a bid to reduce their own penalty from the U.S. Securities and Exchange Commission (SEC). Earlier this week, the SEC reached a $4.47 billion settlement with Terraform Labs after the stablecoin firm was found liable for defrauding investors of $40 billion in the 2022 TerraUSD […]

The post Ripple Cites New Terraform Labs Settlement in a Bid To Convince the Court To Lower the SEC’s Civil Penalty appeared first on The Daily Hodl.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

SEC slashes Ripple penalty to $102 million

June 15, 2024 The Crypto Briefing

Crypto Briefing

The SEC has cut its settlement demand for Ripple from $2B to $102.6M, following legal debates and comparisons to similar financial cases.

The post SEC slashes Ripple penalty to $102 million appeared first on Crypto Briefing.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Crypto Biz: Riot Platforms and Bitfarms dispute escalates

June 14, 2024 Coin Telegraph

Bitcoin mining

This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more.

The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified.

On June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million and bringing its total holding from 9.25% to 13.1%.

The move came just a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more. The defense mechanism is designed to dilute the value of shares and hinder Riot’s takeover plans.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Ripple CEO Brad Garlinghouse Says This Is What the Crypto Industry Needs To Focus on To Drive Mass Adoption

June 14, 2024 The Daily Hodl

Blockchain

The CEO of Ripple Labs says that in order for the crypto industry to drive mass adoption it needs to focus on one key aspect. In a new interview at the XRP Ledger Apex 2024 event, Ripple Labs head Brad Garlinghouse says that for the crypto industry to grow exponentially real use cases need to […]

The post Ripple CEO Brad Garlinghouse Says This Is What the Crypto Industry Needs To Focus on To Drive Mass Adoption appeared first on The Daily Hodl.

Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for Great Recovery – Here Are His Targets

Ripple and Archax Extend Collaboration to Boost Real-World Asset Tokenization on XRP Ledger

June 13, 2024 Bitcoin.com

bitcoin.com

Ripple, a leading enterprise in blockchain and crypto solutions, and Archax, the UK’s first regulated digital asset exchange, have announced an extension to their existing collaboration on June 13, 2024. This partnership aims to bring hundreds of millions of dollars of tokenized real-world assets onto the XRP Ledger over the next year, positioning the XRPL […]

Ripple

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