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- Cryptocurrencies
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On Friday, Bitcoin, Ethereum, and other crypto tokens witnessed a massive surge. Coinbase, the largest US crypto exchange, has filed a motion to dismiss the US Securities and Exchange Commission (SEC) lawsuit against it, Paul Grewal, the company's chief legal officer, said in a Tweet. This article is a daily crypto roundup with the latest updates on market trends and price movements of various cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and more.
Bitcoin, Ethereum, and other cryptocurrencies witnessed a massive surge on Friday. The largest cryptocurrency by market cap is nearing the US$31k.mark, with some gains across the price charts. The second most popular token, Ethereum, has surged 2.65% from yesterday and is trading at US$1,898.17. From the previous week, it is up 8.85%.
Other popular altcoins like Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) landed in the green across the board. The global crypto market cap stood at US$1.2 trillion, with a volume of nearly US$38.1 billion in the past 24 hours.
Coinbase, the largest US crypto exchange, has filed a motion to dismiss the US Securities and Exchange Commission (SEC) lawsuit against it, Paul Grewal, the company's chief legal officer, said in a Tweet.
The crypto exchange claimed that the allegations in the lawsuit that the firm broke the agency's rules lack merit.
"We welcome dialogue any time with any regulator, including the SEC, and believe new legislation and rulemaking is the right path forward. But the claims, in this case, go far beyond existing law – and should be dismissed," Grewal stated in the tweet.
Binance is launching a presale of Cloud Mining products for BTC mining. Users will receive APR rewards from the end of the presale until the mining start time with the funds used to purchase these products through Simple Earn Flexible Products. Cloud Mining products in this presale are limited and will be sold on a first-come, first-served basis.
German regulators have told Binance they will not grant it a cryptocurrency custody license, a person with direct knowledge of the matter said on Thursday, the latest in a string of setbacks for the world's biggest cryptocurrency exchange.
Binance has come under pressure from regulators around the world. THIS MONTH, the US Securities and Exchange Commission sued Binance and its CEO, Changpeng Zhao, over what the regulator called a "web of deception" to evade US laws. Binance denies the charges. Due to confidentiality, the German regulator, BaFin, declined to comment on individual companies.
Launching dYdX's Cosmos-based blockchain is part of the decentralized exchange's mission to further democratize access to financial opportunities. The dYdX chain, created in the Cosmos ecosystem, recently completed its Milestone 4 and has over 40 validators running the platform's software. The news was announced by the decentralized exchange on its official Twitter handle.
"We are thrilled to announce that the dYdX Chain public testnet is set to launch on 7/05/2023 at 17:00 UTC!"
The launch would also see testing commence for several functions. These include viewing the order book, connecting wallets, and viewing account information. The decentralized exchange had stated in a blog post that it expected to launch its mainnet after completing Milestone 5 in September.
