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Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The latest price moves in crypto markets in context for July 17, 2023.
Funding rates in perpetual futures tied to BNB are most negative in nearly three months.
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC.
Along with XRP’s strong week, 172 of 186 CoinDesk Indices assets finished in positive territory
Ripple's XRP was down 25% from its highest levels on Thursday.
The fight for regulatory clarity isn’t over yet, however, as the SEC will likely appeal the decision and continue to pursue similar cases in the future, analysts wrote.
The spike in trading activity came after a partial win in a lawsuit against the SEC.
The trading volume of XRP against the Korean won was the highest among all other counterparts .
- 17:29Analysis: If Trump Media & Technology Group’s BTC and ETH ETFs Are Approved, They Will Compete with Giants Like BlackRockAccording to a report by Jinse Finance, a filing submitted to the U.S. Securities and Exchange Commission on Monday shows that Trump Media & Technology Group (DJT.O) is seeking to launch an ETF that will invest in Bitcoin and Ethereum, the two largest cryptocurrencies. This marks the second cryptocurrency ETF application submitted by the Trump-affiliated social media company in less than two weeks. If approved, the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would enter a crowded and highly competitive market already dominated by a handful of well-known asset management firms such as BlackRock, whose iShares Bitcoin ETF holds $72.5 billion in assets.
- 17:29Iran launches missile attacks on Israel for the fourth consecutive nightOn the evening of June 16 local time, the Israeli military issued a statement saying that missiles launched from Iran were detected heading toward Israel, and air raid sirens sounded in multiple locations. The Israeli military urged the public to strictly follow the instructions of the Home Front Command, stating that interception operations are underway and that "strikes will be carried out if necessary to eliminate the threat."
- 16:30Solana Co-Founder: Cardano’s Plan to Convert $100 Million in ADA to Bitcoin Is “Extremely Foolish”According to ChainCatcher, as reported by CryptoSlate, Solana co-founder Anatoly Yakovenko has publicly opposed Cardano's proposal to sell $100 million worth of ADA to purchase Bitcoin and stablecoins, calling the decision "extremely foolish." Yakovenko stated that project teams only need to hold short-term government bonds for 18-36 months as emergency funds, questioning "why hold Bitcoin on behalf of users." The controversy stems from a proposal by Cardano founder Charles Hoskinson on June 14, aimed at enhancing stablecoin liquidity within its DeFi ecosystem. The community is concerned that a large-scale ADA sell-off would impact the token's price, while Hoskinson argued that the market has sufficient depth to absorb the selling pressure and pointed out that the current on-chain stablecoin volume on Cardano is only $33 million, which already threatens the ecosystem's development.