Category: crypto

SEC Chair Paul Atkins defended the agency’s pause in the Justin Sun TRX case, citing legal restrictions. Lawmakers questioned Trump-linked crypto investments and potential political influence. SEC shifts from enforcement to rulemaking and coordination with the CLARITY Act. Democratic lawmakers link enforcement changes to Trump’s cryptocurrency investments.

FTX founder Sam Bankman-Fried is following a media playbook drafted after his arrest, portraying himself as a Republican supporting Trump’s crypto policies. With weak appeal and retrial prospects, a Trump pardon is seen as his best chance to reduce his lengthy sentence. Legal experts doubt his chances of success through standard procedures.

SoftBank reported lower than expected quarterly profit at ¥248.6B but saw a 400% surge in net income over nine months. The company is increasing its focus on AI assets, particularly with OpenAI, after exiting major investments in T-Mobile and Nvidia. CFO Goto stated that 60% of assets are now AI/ASI-related.

World Liberty Financial, backed by the family of U.S. President Donald Trump, plans to launch a new foreign exchange and remittance platform called World Swap. The platform aims to simplify global money transfers and reduce associated fees, connecting users directly to bank accounts and debit cards, using the firm’s USD1 stablecoin.

Transak has integrated with MegaETH, allowing users to purchase ETH directly on the Layer 2 network with fiat payment methods. This integration aims to make it easier for users to access Ethereum’s high-speed performance without the need for bridging or prior crypto holdings. Popular stablecoins will be added in the future.

Grayscale Investments notes a shift in Bitcoin’s price behavior, resembling growth assets more than safe-haven commodities like gold. Recent trading patterns show BTC moves driven by risk sentiment, challenging the “digital gold” narrative. Grayscale maintains a bullish long-term view, suggesting Bitcoin could evolve into a gold-like monetary asset with lower volatility.

Goldman Sachs has increased its focus on XRP by investing $153 million in XRP ETFs, in addition to holdings in Bitcoin, Ethereum, and Solana. This move highlights XRP’s institutional relevance. XRP is currently trading at $1.37, with technical indicators showing fragile momentum. Goldman’s CEO is also engaging more with digital asset markets.

A $12.5 million transfer of WLFI funds to Coinbase Prime has raised volatility risks, with leveraged long positions and key support levels near $0.11. Speculation surrounds the intent behind the transfer, with potential reasons being profit-taking, liquidity operations, or treasury management. The broader cryptocurrency market has seen increased activity.

Bitcoin pioneer Erik Voorhees has moved $6.81 million into tokenized gold, sparking debate among traders. The move does not indicate selling of Bitcoin, but rather diversification. Voorhees has long promoted Bitcoin as “digital gold,” and the purchase of gold-backed tokens may reflect a hedging strategy amid changing market conditions.

Arkham Intelligence is closing its crypto exchange due to low volume and competition from major trading platforms. Launched in 2024, the exchange failed to gain traction against giants like Binance and Coinbase. The move reflects challenges in today’s market for new platforms without strong liquidity. Bitcoin, Ethereum, and Solana prices remain volatile.