Uncategorized
SEC Plans to Drop Its Case Against Kraken, Firm Says

The U.S. Securities and Exchange Commission (SEC) has agreed to drop its ongoing enforcement lawsuit against American crypto exchange Kraken, according to a Monday announcement from the firm.
The SEC sued Kraken in November 2023, accusing the exchange of commingling customer and corporate funds while operating as an unregistered securities broker, clearing agency and dealer. Instead of settling with the SEC, Kraken chose to fight the charges, and a federal judge ruled the agency had a plausible case and should go to trial. Now, pending approval from the SEC’s commissioners, Kraken says the charges will be dropped “with prejudice, with no admission of wrongdoing, no penalties paid and no changes to our business.”
Kraken’s victory comes as the SEC continues its full-scale retreat from crypto enforcement cases and investigations that began during former Chair Gary Gensler’s tenure. The Commission’s new leadership has indicated a move away from the so-called “regulation by enforcement” practiced by Gensler, and has pledged to craft clear rules of the road for the crypto industry.
“The SEC’s decision to dismiss its lawsuit against us (and many others) is more than just a legal victory — it’s a turning point for the future of crypto in the U.S. It ends a wasteful, politically motivated campaign, lifts uncertainty that stifled innovation and investment, and clears the path toward a stable, forward-thinking regulatory regime,” Kraken said in a Monday blog post.
The SEC had previously filed in court to pause its ongoing cases against Binance and the Tron Foundation, as well as their affiliated executives and companies.
Though the SEC is dropping crypto cases like hot potatoes, not all defendants are off the hook yet. Several major companies, including Ripple and Cumberland DRW, the crypto trading arm of Chicago-based trading giant DRW, are still locked in legal battles with the regulator. And while many of the SEC’s crypto probes have been closed, and will not result in enforcement charges — including probes into OpenSea, Gemini, Robinhood Crypto and Uniswap, others into Crypto.com, Immutable, and Unicoin remain open.
Read more: As the SEC Continues its Crypto Litigation Retreat, Here’s What’s Still Outstanding
Uncategorized
Coinbase Outpaces S&P 500 With 43% June Rise as Stablecoin Narrative Grows: CNBC

Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month.
June’s run is already the stock’s best since November and caps three straight monthly gains. Coinbase’s shares reached their highest level since their public debut.
COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351.
The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased.
Washington’s progress on the GENIUS Act, Congress’s first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue.
The bill brightened the outlook for Circle, whose shares hit a record high and saw its market cap near that of Coinbase this week.
Coinbase keeps all yield on USDC balances held on its platform and nearly half of other USDC income, equal to about 99 percent of Circle’s revenue, giving shareholders indirect exposure at no added cost, CNBC reported Friday, citing analysts including Citizens’ head of financial technology research Devin Ryan.
Trading, however, remains subdued. Average daily volume on Coinbase has drifted lower since April.
Uncategorized
Robinhood Launches Micro Bitcoin, Solana and XRP Futures Contracts

Robinhood (HOOD) has introduced micro futures on bitcoin (BTC), solana (SOL) and XRP in the United States., expanding its existing crypto futures offering for its nearly 26 million funded accounts.
Micro contracts need far less collateral than full-size futures, letting traders take directional positions while committing a smaller slice of capital.
The contracts offer traders more flexibility to bet on a cryptocurrency’s future price direction or hedge current positions given their smaller size.
The launch rounds out a futures suite that began with BTC and ETH in January. It also comes weeks after the firm closed its $200 million purchase of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.
Robinhood’s data shows that crypto notional volumes have exploded upward over time, reaching $11.7 billion in May. The figure marks a 36% rise month-over-month, and a 65% growth year-over-year.
Uncategorized
Why is XRP Up Today? Trio of Catalysts Sees Token Outperform Wider Crypto Market

XRP climbed 5.5% to $2.19 in the last 24 hours after a trio of catalysts converged to help the cryptocurrency outperform the wider cryptocurrency market.
One of the catalysts was launch of XRP micro futures on Robinhood. The contracts offer traders more flexibility to bet on the cryptocurrency’s future price direction or hedge current positions given their smaller size.
Regulatory fog also thinned. On Friday, Ripple withdrew its cross-appeal in its long-running U.S. Securities and Exchange Commission (SEC) lawsuit. The SEC sued Ripple back in 2020 over its XRP sales, alleging these violated securities laws. The SEC is expected to drop its own appeal, leaving last year’s ruling, ordering Ripple to pay a $125 million civil penalty to the SEC, intact. The move could lift a lid that had kept some investors on the sidelines.
On-chain data rounded out the bullish setup. The XRP Ledger logged over a 1.1 million active addresses over the past week according to crypto analyst Ali Martinez, who cited Glassnode data.
XRP’s rise saw it outperform the wider crypto market, with the broader CoinDesk 20 (CD20) index rising 1.7% in the last 24 hours.
-
Business9 месяцев ago
3 Ways to make your business presentation more relatable
-
Entertainment9 месяцев ago
10 Artists who retired from music and made a comeback
-
Fashion9 месяцев ago
According to Dior Couture, this taboo fashion accessory is back
-
Entertainment9 месяцев ago
\’Better Call Saul\’ has been renewed for a fourth season
-
Business9 месяцев ago
15 Habits that could be hurting your business relationships
-
Entertainment9 месяцев ago
Disney\’s live-action Aladdin finally finds its stars
-
Entertainment9 месяцев ago
New Season 8 Walking Dead trailer flashes forward in time
-
Tech9 месяцев ago
5 Crowdfunded products that actually delivered on the hype