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Samson Mow Warns of Imminent Altcoin Crash, Ripple's Legal Fight with SEC Gears Up With New Deadlines, Craig Wright Not Satoshi Nakamoto, UK Court Rules: Crypto News Digest by U.Today

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Fri, 15/03/2024 - 16:40
Samson Mow Warns of Imminent Altcoin Crash, Ripple's Legal Fight with SEC Gears Up With New Deadlines, Craig Wright Not Satoshi Nakamoto, UK Court Rules: Crypto News Digest by U.Today
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Here are the top three news stories presented to you by U.Today.

Altcoin crash imminent, '$1 million for Bitcoin' advocate Samson Mow warns

Samson Mow, Jan3 CEO known for his bold "$1 million for Bitcoin" prediction, has recently taken to X platform to warn his followers of an impending crash in altcoins. In his post, Mow highlighted how unsustainable altcoin gains are in contrast to Bitcoin's strong performance while pointing out a notable difference in daily inflows between Bitcoin ETFs and other cryptocurrencies. The CEO then added that altcoins do not receive the same level of significant investment influxes as Bitcoin, which makes their gains precarious. Mow also drew attention to the astronomical market capitalization of altcoins such as Solana in comparison to businesses such as MicroStrategy (MSTR), underscoring an imbalance on the market. Thus, the entrepreneur urges investors to stay cautious amid changing dynamics of the crypto market, reminding of risks associated with the pursuit of astronomical gains in the altcoin arena.

Ripple's legal fight with SEC gears up with new deadlines

According to a recent update provided by defense lawyer James K. Filan, new deadlines for remedies briefing have been set in the ongoing legal battle between Ripple and the SEC. The updated schedule reads that the SEC’s opening brief is set for March 22, Ripple’s opposition brief is due by Apr. 22, and the SEC’s reply brief is expected by May 6. As a reminder, in February, Ripple requested a one-week extension for remedies-related discovery, moving the deadline from February 12 to February 20; the extension was granted. Later, on Feb. 27, Judge Analisa Torres received a letter motion from the SEC, represented by Jorge G. Tenreiro, asking for an additional extension of time to file a remedies-related briefing. The regulator was seeking a total one-week extension for the completion of such a briefing. The SEC's motion for an extension of time was granted in early March.

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Craig Wright not Satoshi Nakamoto – UK court officially states

As became known yesterday, March 14, U.K. judge James Mellor ruled that Craig Wright is not Satoshi Nakamoto or the creator of Bitcoin whitepaper. The judge described the evidence presented during the month-long trial as "overwhelming," stating he plans to write a ruling outlining his conclusions, which would include the fact that Wright was not the creator of the Bitcoin system. This came as a result of a lawsuit brought by COPA (the Crypto Open Patent Alliance) against Craig Wright, which started in 2021. In 2016, Australian computer scientist Wright proclaimed himself to be Satoshi. The news of the judge’s ruling was also shared by Twitter cofounder and Bitcoin evangelist Jack Dorsey.

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