viabsa3ps

@viabsa3ps

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Just breathed in the freshest air ever. Absolutely amazing here in the UK.

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One case, however, has been conspicuously absent from the bevy of dismissals — an awkward anomaly. That case, of course, is Ripple.

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“The decision by the previous Commission to shift this function to the Division of Enforcement by engaging in a large-scale regulation-by-enforcement initiative harmed the American public, adversely affected the industry, and impeded the ability of the Commission’s skilled and dedicated professional staff to use their expertise as it was intended to be used.”

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This signals to the cryptocurrency industry that US President Donald Trump’s administration will not govern like the last. Indeed, Commissioner Hester Peirce, who is currently serving as head of the SEC’s Crypto Task Force, released a public statement explaining that the SEC would not be regulating by enforcement anymore:

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In recent weeks, the Securities and Exchange Commission (SEC) has been on a dismissal spree. First Coinbase, then Consensys, Gemini and OpenSea. Yesterday, it was Kraken. One by one, virtually every high-profile enforcement action of the era of former SEC chair Gary Gensler has fallen.

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As previously mentioned, Turkey introduced new crypto regulations in the final week of 2024, targeting stricter Anti-Money Laundering measures and client identification policies.

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Other crypto-friendly banks in Turkey include Garanti Bbva and Akbank.

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Stablecoins issued by traditional financial institutions may face challenges in gaining significant market adoption, according to Matt Hougan, chief investment officer at Bitwise.

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“The $85,000 level is crucial — if BTC breaks below this support, it could trigger further declines,” Hong Yea, the co-founder and CEO of hybrid crypto exchange GRVT, told Cointelegraph, adding:

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Bybit held more than 201,600 Ether at the time of writing, accounting for 45% of the 439,000 Ether it held before the hack on Feb. 20. Following the breach, Bybit’s ETH reserves had plummeted to just 61,000 ETH on Feb. 21.

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The markets reacted violently, with some tech stocks setting new records in single-day losses on Wall Street.

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On Feb. 2, Trump signed yet another executive order, this time levying tariffs on goods made by Mexico, Canada and China.

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He reportedly said, “I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican Party, crypto is about freedom, and the crypto economy is here to stay.”

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When Trump first tapped Bessent in November 2024, Fox Business journalist Eleanor Terrett described him as “very pro-crypto, particularly pro-Bitcoin.”

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On Jan. 27, the US Senate voted 68–29 to support the nomination of billionaire hedge fund manager Scott Bessent as secretary of the Treasury.

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The group will report to David Sacks, the administration’s official AI and crypto czar.

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Coinbase announced in November 2024 that it would suspend wBTC trading starting on Dec. 19. BiT Global responded with a lawsuit filed on Dec. 13, claiming Coinbase had harmed the wBTC market by choosing to delist the token. A judge declined to issue a restraining order barring the exchange from delisting wBTC.

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“The Court should dismiss BiT’s complaint in full,” said Coinbase. “And it should do so with prejudice, as the most fundamental of these pleading failures — including Coinbase’s lack of market power given BiT’s conceded dominance, the lack of any exclusionary conduct, the absence of any false statement, and BiT’s repeated inability to demonstrate injury — cannot possibly be cured.”

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In a Jan. 21 filing in the US District Court for the Northern District of California, Coinbase asked the court to dismiss the BiT Global complaint, citing the firm’s affiliation with Tron founder Justin Sun. The exchange’s legal team said its decision to delist wrapped Bitcoin was “due to the unacceptable risk that control of wBTC would fall into the hands of Mr. Sun.”

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Trump admitted he didn’t know much about the TRUMP token launch when asked in a Jan. 21 press conference.

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