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U.Today presents the top three new stories over the past day.
Key reason why Bitcoin (BTC) soared above $60,000
With Bitcoin's price surging past the $60,000 level for the first time since late 2021, the world's largest cryptocurrency has made the news all around the globe. At the moment of writing, per CoinMarketCap's data, BTC is trading at $62,724, up 3.18% over the past 24 hours. The main reason behind the spike in Bitcoin's price is the excitement growing around Bitcoin exchange-traded funds (ETFs). According to recent data provided by Jim Bianco of Bianco Research, all 10 spot Bitcoin ETFs registered 241,000 trades, surpassing the trading volume of major ETFs like the SPDR S&P 500 ETF (SPY) and the Invesco QQQ ETF (QQQ) for the second consecutive day. Such an increase in activity signifies the rising interest and investment in Bitcoin ETFs, which collectively hold $44 billion in assets.
Ripple faces new SEC deadline extension request
In a recent development of the Ripple-SEC legal battle, the regulating agency addressed Judge Analisa Torres in the Southern District of New York with a request to extend the timeline for remedies-related briefing. Specifically, the SEC is seeking a deadline extension for the opening brief to be rescheduled from March 13 to March 22, 2024. The "good cause" for granting this request, as explained by the regulator, is a need for additional time to review recently produced documents and finalize remedies-related briefing. This is the first time that either party has asked for a delay in the remedies-related briefing schedule, with Ripple consenting to the suggested timing modifications.
Zero balance alert on Coinbase: What happened?
Yesterday, Feb. 28, Coinbase users were abuzz with concern and confusion as the crypto exchange experienced a significant glitch in its system. According to numerous reports from users, their account balances dropped to zero, with the issue impacting all types of transactions, including buying, selling and transferring funds. The Coinbase team promptly reacted to the problem and assured its users that their assets are safe and that they are actively working to deliver a solution. According to Coinbase CEO Brian Armstrong, the issues have been caused by a huge surge in traffic amid the ongoing cryptocurrency rally. As can be seen on Coinbase Status website, the incident was reported to be successfully resolved at 9:24 p.m. PST.
Arman Shirinyan
Yuri Molchan
Godfrey Benjamin
