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Also Read: XRP Lawyer: US SEC Hiding Secret Howey Memo To Protect Itself advertisement US SEC’s Views Made “No Sense” Seyffart explained that the agency’s views made little sense as it differentiated between the spot and futures ETF applications. Earlier, CoinGape reported that the Bloomberg analysts see a 75% chance of a spot Bitcoin ETF in 2023. Seyffart said the unanimous nature of the Grayscale filing and the decisive and harsh language that the judge used against the SEC made the analysts jump even further to raise the odds up to 75. Bitcoin ETF Approval Only A Matter Of Time The analyst reiterated that the analysts foresee the ETF approval happening and it is only a matter of time. He said the SEC has about 45 days before it can delay approve or deny and almost always they choose to delay before the final deadline. Hence, the first application that is pending next would be of Ark 21Shares Bitcoin ETF, before January 10, 2024. This is part of the

Also Read: Terra Luna Classic Top Validators Support Crucial Dynamic Minimum Commission Proposal advertisement Ripple’s The Proper Party Earlier, CoinGape reported Ripple Labs CEO Brad Garlinghouse’s announcement of the Ripple Proper Party, a celebratory event following the US SEC lawsuit Summary Judgment. The ruling brought in a pivotal shift in not only traders but also institutional investors. Already, the Ripple executives revealed that the company began re-engaging with the United States based clients on partnerships for its payments software. The community celebration event will be held on September 29, 2023 in New York City, for which registration is now open. Big Announcements Ahead? John Deaton, the attorney representng th XRP token holder community, is confident there will not be a settlement announcement with the US SEC. This is because a settlement can only be triggered if there are huge developments in the Coinbase Vs SEC lawsuit. Besid

Meitu was one among many public companies that purchased Bitcoin to hold as a treasury reserve during the peak of the bull run last year and now joins the list of companies that have suffered heavily due to the bear market. Hong Kong tech giant Meitu made headlines in April last year after it reported nearly $100 million in crypto holdings. However, with the advent of the bear market, the tech firm has lost nearly half of the valuation of its crypto holdings. According to a local media report, Meitu reported an impairment loss of over 300 million yuan, approximately $43.4 million, on their crypto holdings. An impairment loss is a loss in value of an asset when it falls below the carrying value of the investment. The financial filing revealed that the impairment loss has more than doubled from the last quarter, something the firm had anticipated earlier. The tech giant has said that its crypto holdings could impact the net loss of the company by the end of the first half of the year

Also Read: Spot Bitcoin ETF Has a Fairly High Probability of Gaining Approval in the US – Bernstein Analysts advertisement Hence, the crypto asset price sentiment is largely dependent on the US SEC’s decision and any delay could likely subside the momentum leading to drop in Bitcoin price. That the financial bigwigs like Valkyrie, Fidelity, Bitwise, Invesco, and WisdomTree followed BlackRock in filing for ETFs gives traders reasons to believe there is more to the filings than it appears. In this context, Bitcoin analysts believe the third quarter could see some flat movement in asset prices before taking off for a crypto bull run later by the end of the year. When Will Bitcoin Bull Run Begin? Besides the Bitcoin ETF filings, the digital assets enthusiasts are also looking forward to the Bitcoin halving event, which is scheduled for around the end of April 2024. Meanwhile, Adrian Zdunczyk, a crypto analyst, believes there could be some slow movement in

Also Read: Popular Analyst Predicts Looming Ethereum Price and Altcoins Crash advertisement Meanwhile, Ripple and the XRP community is hopeful of the Summary Judgement in the SEC lawsuit sometime within 2023, amid rising hopes of Ripple’s win. However, such an environment is failing to translate into XRP price rise, and hence indicating that it will remain same until Ripple secures a clear win. XRP Holders’ Loss John Reed Stark, who had worked as a lawyer in the SEC’s enforcement division for a long time, admitted that the SEC’s actions in the XRP lawsuit led to investors losing in billions of dollars. He expressed his stance on crypto saying these tokens fail to fit in the criteria for both investment and currency, adding that fraudulent activities are deeply rooted in the ecosystem, However, he agreed that investors lost great deal due to the SEC’s actions in the Ripple lawsuit. When asked about the SEC’s actions leading to wiping billions off the m

Also Read: Ripple To Face Trouble From XRP Holders in Court? Attorney Suggests This advertisement In a recent Congressional hearing, Patrick McHenry, Chair of the House Financial Services Committee, stated that there was clearly no clarity on the regulatory framework when it came to the crypto market. McHenry made the comments while grilling SEC chair Gary Gensler. Relist XRP Demand Over Coinbase Stance On Thursday, Coinbase gave a formal response to an SEC Wells Notice saying the company did not violate securities laws in its United States operations. The SEC had earlier issued a notification saying it was investigating the Earn product, wallet service, and exchange operations. Reacting to this, the exchange’s CEO Brian Armstrong said the company was willing to have a “true dialogue to a workable path forward” for the crypto industry, while stressing that Coinbase was ready to defend its position in court.