Published on juni 23, 2024, 12:24 am
Image source: Fox News
```json [ { "TLDR": "SEC closes investigation on Ether's security status, Kraken recovers $3 million from CertiK bug bounty exploit, SEC rejects Ripple's reduced penalty request, experts predict significant growth for Ether reaching $10,000 milestone, market performance shows Bitcoin at $64,010, Ether at $3,501, XRP at $0.48 with altcoin gainers like ENS and LDO while losers include ZK and CHZ." } ] ```
The U.S. Securities and Exchange Commission has decided to close its investigation into whether Ether qualifies as a security, as revealed by Consensys, an Ethereum developer. The scrutiny was centered around determining if Ethereum’s 2014 initial coin offering breached securities regulations. This development came after Consensys reached out to the SEC on June 7 asking for clarification regarding the status of Ether (ETH), particularly in light of the regulator’s approval of exchange-traded funds premised on ETH being classified as a commodity.
In another crypto-related event, Kraken has successfully recovered nearly $3 million in assets from CertiK following a significant bug bounty exploit incident. The return of these digital assets marks the conclusion of the Kraken-CertiK episode, where CertiK identified an exploit allowing the withdrawal of millions from Kraken’s accounts. Despite being threatened by Kraken subsequently, CertiK admitted to its role in highlighting this loophole.
Additionally, Ripple’s request for a reduced penalty in its legal battle with the SEC has been declined by the U.S. Securities and Exchange Commission. The agency argued that Ripple’s proposed $10 million fine is inadequate compared to the $876.3 million it is seeking due to alleged violations. This rejection comes amid Ripple pointing to a settlement between the SEC and Terraform Labs as a precedent, which included additional measures beyond financial penalties.
Crypto trends suggest that Ether might be poised for significant growth, with some experts voicing beliefs that reaching the $10,000 milestone could provide substantial returns due to various contributing factors like upcoming Ether exchange traded-funds and reductions in Ether supply on exchanges. Moreover, Bitwise’s filing for a spot Ether exchange traded-fund indicates Pantera Capital’s interest in investing up to $100 million in this fund.
In terms of market performance, at week-end Bitcoin (BTC) stands at $64,010, Ether (ETH) at $3,501, and XRP at $0.48 with a total market cap of $2.34 trillion according to CoinMarketCap data. Notable altcoin gainers include Ethereum Name Service (ENS) at 25.77%, Lido DAO (LDO) at 14.04%, and Pendle (PENDLE) at 13.53%. Conversely, top altcoin losers consist of zkSync (ZK) down -33.93%, Chiliz (CHZ) decreased by -30.15%, and Starknet (STRK) fell by -24.81%.
For further insights into cryptocurrency price fluctuations and trends, it is recommended to stay updated with expert analysis provided by reputable sources like Cointelegraph’s market commentary section that covers various developments within the crypto sphere comprehensively and accurately while monitoring key industry updates effectively for all enthusiasts looking to navigate this dynamic landscape more confidently.
Original article posted by Fox News
