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SEC Ordered to Submit Redactions, Bloomberg Says ETH Value is $6,000, Binance Supports Terra’s UST Staking: Crypto News Digest by U.Today

Thu, 04/07/2022 - 16:03
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Valeria Blokhina
Stay updated on all the most important events with U.Today’s crypto news digest!
SEC Ordered to Submit Redactions, Bloomberg Says ETH Value is $6,000, Binance Supports Terra’s UST Staking: Crypto News Digest by U.Today
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Here are the top four news stories over the past day presented to you by U.Today.

SEC is ordered to submit redactions

According to a recent tweet by James K. Filan, a defense lawyer who follows the Ripple v. SEC case, the regulator has been ordered by Magistrate Judge Sarah Netburn to submit all of its suggested redactions for in-camera review. The SEC is expected to do that before April 8. In late March, the agency filed a motion, asking the judge to allow redacting some of the notes that were taken during some meetings with third parties. Ripple, in turn, stated that it was not challenging any of the proposed redactions, but it reserved the rights to the notes.

Ripple Is Not Challenging SEC's Redactions

Real Ethereum value is $6,000, according to Bloomberg

The discounted cash flow model created by Bloomberg shows that Ethereum’s real value is $6,128, or 180% of the current price. Apart from that, according to MarketWatch, the upcoming major update of the network, which changes the "outdated" PoW standard to PoS, makes Ether an equity-like instrument. In the meantime, experts suggest that while the network's transaction fees spiked to $9.8 billion in 2021, Ethereum will generate even more fees in 2022, aiming at around $12 billion by the end of the year.

Ethereum (ETH) Volatility Is Mispriced, Suggesting Explosive Moves Ahead: On-Chain Report

Terra’s UST staking now supported by Binance

Yesterday, on April 6, the world’s largest cryptocurrency exchange Binance announced the launch of Terra’s UST staking. It is possible to earn up to 19.63% annual percentage yield (APY). Terra’s UST is the biggest decentralized stablecoin with a market cap of $16.6 billion. Unlike Tether’s USDT and Circle’s USDC, it is not controlled by any centralized party.

Binance CEO and Ripple Co-Founders Among Richest Crypto Billionaires: Forbes

Miami reveals crypto-related "bullish" statue

It seems like Miami, one of the friendliest cryptocurrency cities in the United States, decided to get its own version of Wall Street's "Charging Bull," according to a recent Bloomberg report. The city opened a multi-day Bitcoin conference with the unveiling of a 3,000-pound bull statue, which marks the sentiment of the city toward a rapidly emerging digital assets industry. The statue resembles its famous New York brother, except with Bitcoin “laser eyes,” which has become a distinctive feature of crypto enthusiasts.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.