Published on mei 12, 2024, 12:28 am
Image source: Fox News
```json { "TLDR": "SEC seeks significant fines against Ripple in legal dispute, Grayscale withdraws Ether futures ETF application, dormant Bitcoin address becomes active, FTX proposes creditor compensation, Binance faces pressure from Nigerian authorities. Cryptocurrency prices: BTC $60,848, ETH $2,932, XRP $0.49. Altcoins see varied movements." } ```
The U.S. Securities and Exchange Commission has recently challenged Ripple’s stance on penalties in their ongoing legal dispute, seeking significant fines against the company. This development follows a ruling by Judge Torres stating that XRP is not a security in programmatic sales. Ripple argues that any fines imposed should not surpass $10 million, emphasizing the absence of fraudulent intent. However, the SEC asserts that Ripple misinterpreted the court’s decision and minimized its responsibility. Both parties are now waiting for a final judgment.
In another turn of events, Grayscale has retracted its application for an Ether futures exchange-traded fund (ETF) just weeks before the U.S. Securities and Exchange Commission was due to make a decision. The sudden move led traders to short Ether, sparking speculation within the community. Meanwhile, a dormant Bitcoin address holding 687 BTC worth $43.9 million, linked to the era when Satoshi Nakamoto was active, came alive after a decade of dormancy.
FTX has put forth a proposal to compensate creditors affected by its collapse in 2022, offering repayment of all claims along with additional compensation based on the time value of investments. This proposal needs approval from the U.S. Bankruptcy Court; however, some investors are dissatisfied as compensation is pegged to asset values at FTX’s bankruptcy rather than current market prices.
Additionally, Binance reportedly faced pressure from Nigerian authorities demanding a $3 million settlement concerning compliance issues. The exchange declined this request but continued negotiations with local representatives amidst escalating tensions with regulatory bodies.
As for cryptocurrency prices at week’s end: Bitcoin (BTC) stands at $60,848, Ether (ETH) at $2,932, and XRP (XRP) at $0.49; total market cap hovers around $2.26 trillion according to CoinMarketCap data.
Amidst these developments, altcoins have seen diverse movements: top gainers include Akash Network (AKT), Render (RNDR), and Toncoin (TON); while leading decliners consist of Core (CORE), Wormhole (W), and Lido DAO (LDO). For more insights into crypto prices and trends, consult Cointelegraph’s market analysis for up-to-date information.
In conclusion…
Original article posted by Fox News
