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BTC Soars Past $30,000 First Time Since April, Ripple CTO Declares Coinbase's Victory Over SEC, Millions of Stolen XRP Ripple Through Exchanges: Crypto News Digest by U.Today

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Thu, 22/06/2023 - 15:27
BTC Soars Past $30,000 First Time Since April, Ripple CTO Declares Coinbase's Victory Over SEC, Millions of Stolen XRP Ripple Through Exchanges: Crypto News Digest by U.Today
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U.Today presents you with the top three news stories over the past day.

Bitcoin soars past $30,000 following BlackRock and Invesco's ETF applications

Yesterday, the world's largest cryptocurrency, Bitcoin, soared above the $30,000 level. This price increase marks an important achievement for the flagship crypto, as it has managed to jump past this price point for the first time since April 19. BTC price growth followed significant developments in the crypto investment space, particularly those related to exchange-traded fund (ETF) filings by industry giants BlackRock and Invesco. Last week, asset management giant BlackRock filed an application for what would be the first-ever spot Bitcoin ETF in the U.S. This action by BlackRock has been viewed as a clear indication of the world's largest financial organizations' ongoing interest in Bitcoin. At the moment of writing, Bitcoin is trading at $30,242, per CoinMarketCap.

Ripple CTO declares Coinbase's victory over SEC

Paul Grewal, chief legal officer at Coinbase, recently provided an update on the exchange's legal battle with the SEC. According to Grewal's tweet, the Third Circuit ruled that it will retain jurisdiction over Coinbase's challenge to the SEC's inaction regarding their petition for fundamental regulations in the crypto sphere. Following the update release, Ripple CTO David Schwartz took to Twitter to comment on the court's verdict, describing the situation as a "rollercoaster." While the court ordered the SEC to provide a timeline for ruling on Coinbase's request, it allowed the regulator a four-month window merely to inform the court of their progress. Nevertheless, Schwartz considers this outcome to be a victory for Coinbase, as most of the crypto community expected the exchange "to get nothing at all out of this."

Related

Millions of stolen XRP ripple through exchanges after epic heist

The fate of millions of XRP tokens stolen as the result of the Atomic Wallet hack that took place in early June has worried many members of the crypto community. To their delight, an expert team from Xrplorer, a prominent crypto intelligence provider, managed to track some of the stolen tokens as they moved among various platforms. The team revealed that the hackers were resorting to extensive money laundering tactics, such as creating new accounts to evade blacklists, to cover their tracks and make use of the stolen XRP. However, the movement of the funds became apparent when millions of tokens flooded exchanges, with large amounts flowing into KuCoin, Binance, WhiteBIT, OKX and Huobi. The Xrplorer team also reported an additional two million tokens being on the move, and about 18 million XRP are still unaccounted for.

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