Cryptocurrency

In an approved judgment document released by the court on July 16, Judge James Mellor concluded injunctions sought by COPA which, to him, seem to be based, more or less, on an accumulation of the subject matter of each of the five actions.Judge Mellor stated: “I have concluded that the operative part of the first injunction should read as follows, so that Dr. Wright is able to plead by way of a defence any of the grounds which are the subject of this first injunction, but not pursue a counterclaim.” He touched on the first injunction that refers to an anti-suit injunction preventing Wright from attempting to relitigate the case.Concerning the second injunction, the judge concluded that each of “Dr. Wright and any of his companies shall not threaten (explicitly or implicitly) or procure any other person to threaten (explicitly or implicitly) that any Precluded Proceedings will be pursued against any person in the Courts.”The fourth injunction prohibits Dr. Wright or his companies from publishing or causing to be published any claims implying that he is Satoshi, or that he is the author of the Bitcoin White Paper, Bitcoin source code or the like.The fifth injunction is a mandatory order directing Dr. Wright and his companies to delete all such published statements. It was decided that Dr. Wright would pay all of COPA’s costs on an indemnity basis, with interest calculated from the date of payment. The judge determined that 85% was an adequate threshold for the interim COPA payment.Judge Mellor also referred Wright to the Crown Prosecution Service (CPS) for consideration on perjury charges.COPA took Wright to court for a final decision on whether he was the creator of Bitcoin. Judge Mellor deemed Wright not to be in March, and in May, Wright was found to have lied extensively during the court process.This article was originally published on U.Today More

Reports also showed that the Securities and Exchange Commission was close to approving exchange-traded funds that directly track world no.2 token Ether, further increasing optimism over a better regulatory environment.Bitcoin rose 2% in the past 24 hours to $63,893.4 by 09:11 ET (13:11 GMT). Speculation over Trump helped the token largely rise past concerns over selling pressure from distributions by defunct crypto exchange Mt Gox. This had seen Bitcoin crash to as low as $54,000 earlier in July.Bitcoin’s rebound came after a failed assassination attempt on Trump, over the weekend, was seen as greatly boosting the former president’s popularity.This was seen giving Trump somewhat of an edge over President Joe Biden in the 2024 presidential race. Trump on Monday was officially nominated as the Republican presidential candidate, and also picked Ohio Senator J.D. Vance as his running mate. Trump has maintained a largely supportive stance towards the crypto industry, recently stating that the future of Bitcoin should be built in the U.S. and not overseas.Trump is also set to speak at the Bitcoin Conference in Nashville later this month. A second term for Trump likely presents a more favorable regulatory outlook for crypto in the U.S., especially after a slew of crackdowns against the industry by the SEC and the Department of Justice in recent years.The SEC still has cases against XRP issuer Ripple and crypto exchange Coinbase (NASDAQ:COIN), with both firms facing allegations of distributing unregistered securities. Among broader crypto prices, altcoins rose tracking gains in Bitcoin.World no.2 token Ether rose 1.6% to $3,405.75. A Reuters report said the SEC had given preliminary approval to at least three of the eight asset managers who had applied for a spot ETF, with trading set to begin from next week.The launch of spot Ether ETFs could draw in a similar amount of institutional investors as that seen with Bitcoin earlier this year. Bitcoin had reached record highs shortly after the launch of the spot ETFs. Other altcoins also rose, with XRP and SOL up 2.8% and 2.6%, respectively. ADA, on the other hand, fell 1.8%Among meme tokens, DOGE added 3.3%, while SHIB rose 6.3%.Spot ether exchange-traded funds (ETFs) in the U.S. are projected to see net inflows at only 30%-35% of the levels seen by their spot bitcoin counterparts, Citi said in a research report last week.This translates to an estimated $4.7 billion to $5.4 billion in net inflows over six months. However, Citi cautioned that actual inflows and the beta of ether returns relative to these flows could be lower than these estimates.”One reason is that while ETH may offer diversification benefits in the long-term, given its different and more extensive set of use cases, this is currently not the case,” Citi analysts noted.Spot ether ETFs are set to become available for trading in the U.S. after receiving approval from the SEC. More

The chart shared by Saylor shows that since Aug. 10, 2020, MicroStrategy’s share price has surged by 1,203%, exceeding Nvidia with its 1,050% growth. The Tesla and Amazon share prices have demonstrated 167% and 22%, respectively. The Apple (NASDAQ:AAPL) share price has gone up 108% in these past four years.Saylor explained that anyone who wants their business to outperform Nvidia should adopt the Bitcoin strategy, similarly to Saylor’s business intelligence giant. MicroStrategy has been steadily buying Bitcoin since Aug. 10, 2020. By now, the company holds 226,331 Bitcoins valued at a whopping $7.538 billion.Twice this year – in March and June – MicroStrategy announced debt offerings to its investors to raise additional funds to buy more Bitcoin. In June, the company first attempted to raise $500 million by offering investors convertible senior notes but then increased this figure to $700 million.Still, this BCH transfer looks pale compared to the Bitcoin transactions, which comprised 48,641 BTC and 44,000 BTC worth $3,061,354,870 and $2,806,815,549. In total, they constituted $5,868,170,419.The first mammoth Bitcoin chunk of 44,000 BTC was transferred by the former and currently nonfunctional cryptocurrency exchange Mt Gox. It transferred the Bitcoin to a new wallet, most likely preparing to start compensation payments to its creditors after the historic 2014 hack, according to the analytics account Lookonchain. The second transaction by Mt. Gox has not been confirmed by on-chain data platforms yet, but judging by the size of it, it seems to be coming from the same source as the first one. Besides, Mt. Gox also promised to make repayments not only in Bitcoin but in Bitcoin Cash too. Therefore, the above-mentioned BCH transfer was probably also made by this platform.This article was originally published on U.Today More

By topping up its bag, the entire Metaplanet portfolio now comes in at 225.611 BTC. These coins were acquired for an average of 9,972,933 yen, for a total of 2.25 billion yen, or $14.197 million.Metaplanet’s approach to Bitcoin is proof that the exact playbook of MicroStrategy may be copied by any company that believes in the potential of BTC. This adoption of the Bitcoin strategy is also applicable irrespective of geographical location, as BTC is traded without any form of government restriction.The acquisitions have helped sustain the price of Bitcoin in the $53,717.38 and $67,188.32 range that it has traded in over the past month.Notably, the firm has joined MicroStrategy in issuing bonds to buy Bitcoin. Per its disposition, Metaplanet may not stop buying Bitcoin until some of its bags rake in at least a reasonable amount of profit.This article was originally published on U.Today More

Based provides a bridge between traditional finance (TradFi) and decentralized finance (DeFi) through its tokenization services. The blockchain protocol runs under the Swiss Distributed Ledger Technology (DLT) Act, enabling it to issue Backed tokens (bTokens) that mirror the value of various assets, including treasury ETFs, corporate bond ETFs, and equities.The new offerings include bMSFT (Microsoft (NASDAQ:MSFT)), bGME (GameStop (NYSE:GME)), bMSTR (MicroStrategy Incorporated (NASDAQ:MSTR)), bTSLA (Tesla (NASDAQ:TSLA)), and bGOOGL (Alphabet (NASDAQ:GOOGL)). It enables eligible non-US investors to gain exposure to S&P 500 companies while keeping their assets on-chain and self-custodied.”Backed is leading the charge towards the future of finance, where blockchain technology converges with the stability and familiarity of traditional financial assets,” Adam Levi, Co-Founder of Backed, told Investing.com. “Our tokenized equities, now expanded to include industry giants like Microsoft, Google, and NVIDIA (NASDAQ:NVDA), represent a monumental leap toward a future where capital markets are fully tokenized, enabling greater market access, all on-chain. This is especially impactful for emerging economies in LATAM, Africa, and SE Asia, where demand for U.S. equities is surging, but access often remains limited.”As more assets move on-chain, asset managers will probably develop strategies to access new liquidity sources and arbitrage between on-chain and off-chain markets. They can apply fundamental portfolio construction principles and manage investment strategies in a digital asset context.These new tokenized equities join Backed’s existing products such as Backed CSPX Core S&P 500 (bCSPX), Backed Coinbase Global (bCOIN) (NASDAQ:COIN), and Backed NVIDIA (bNVDA). The products allow accredited investors to capture the upside of the stocks with the convenience of 24/7 trading on blockchain infrastructure.Each tokenized stock is fully backed by the corresponding stock to provide investors with confidence to trade on-chain. This also simplifies access to a broad spectrum of assets, eliminating the need for off-ramp funds. Backed’s tokenized stocks are also designed to attract crypto organizations seeking diversification while keeping assets on-chain.“Tokenization breaks down these barriers, offering a more inclusive, efficient, and transparent way to invest globally,” Levi told us.In addition to equities, Backed offers tokenized corporate and government bonds, including T-bills. The introduction of five new tokenized stocks lets users create a diversified on-chain portfolio. Blockchain ledgers will handle legal ownership, allowing for composability, interoperability, and self-custody.Backed’s tokenized equities are also designed for use within decentralized finance, where they can serve as collateral for loans and money markets, including stablecoins. The introduction of bMSFT, bGME, bMSTR, bTSLA, and bGOOGL increases opportunities for developers to create new products anchored by these digital assets. More

Ethereum has demonstrated significant bullish momentum, breaking through significant resistance levels, and is currently trading at $3,358. The way the price is moving indicates that ETH has found strong support, and the bullish trend is further supported by the convergence of important moving averages. With the recent surge, ETH has surpassed the 50 EMA at $3,312.70, paving the way for a possible run toward the next major resistance level at $3,467. Ethereum’s price has been rising steadily since it hit a low of $3,091, as can be seen in the daily chart. As the RSI is currently at 55, there is still an opportunity for an increase in price before the asset is overbought. The bullish outlook is further supported by the rising trading volume, which indicates that investors are becoming more interested and involved compared to last week. Right now, Bitcoin is trading at $62,894, a significant increase of around 3%. A reduction in selling pressure and a change in market sentiment have propelled this upward momentum. The bullish view has been strengthened by Bitcoin’s ability to breach multiple significant resistance levels as a result of the recent price surge. As it approaches the 50 EMA at $64,027, the daily chart displays Bitcoin comfortably above the 100 EMA at $62,580. The psychological $65,000 mark represents the next big obstacle that needs to be overcome in order to open the door to more gains. The positive price action has also been aided by a decrease in selling pressure from major holders like the German government. This bullish narrative is also supported by on-chain data. Large transactions and overall transaction volume have noticeably increased, suggesting increased interest and activity in Bitcoin. Since more people are participating in the market and making purchases and sales, this increase in activity frequently occurs before significant price movements. But one must exercise caution at all times. Despite the bullish trend at the moment, Bitcoin needs to keep moving forward and convincingly break through the $65,000 barrier. The upward trajectory could be stopped by any large losses or increased pressure to sell.XRP has increased by 18% over the past day to trade at $0.5297. With the recent spike, XRP is getting closer to breaking through the crucial 200 EMA resistance level, which is currently at $0.5294. As XRP has always exhibited strength when it breaks through this resistance level, it may indicate a major bullish trend. The daily chart indicates that XRP has overcome other significant moving average, such as the 100 EMA at $0.4870 and the 50 EMA at $0.5073. The positive outlook for XRP is influenced by a number of factors. First of all, there has been a general uptrend in market sentiment, with several cryptocurrencies seeing gains. Additionally, investor confidence has increased due to recent partnerships and developments involving Ripple, the company that created XRP. But caution is still necessary. The 200 EMA resistance level has historically been difficult to overcome, and if XRP is unable to maintain its current momentum, there is always a chance that prices will retrace. To determine the strength of the current uptrend, traders and investors should keep a close eye on volume and price movement. The bullish case for XRP is further supported by on-chain data, which demonstrates a significant increase in transaction volume and activity. Further gains and possibly higher price targets could result from a breakthrough above the $0.52 level, if the buying pressure persists and XRP can sustain its momentum.This article was originally published on U.Today More

US regulatory authorities reportedly informed at least three of the eight firms that they are likely to receive final approval to introduce these new products next Tuesday, July 23. This information comes from three sources within the industry.The industry insiders stated that the regulators have instructed them to submit their final offering prospectuses by the end of this week. If these submissions meet the necessary criteria, the SEC is expected to provide issuers with a formal “effective date” for the new products on Monday, July 22.Eric Balchunas, a Senior ETF Analyst at Bloomberg, shared on social media platform X that the launch of the new spot Ether ETFs is projected for July 23.According to Balchunas’s post, the SEC has now responded to issuers, instructing them to return their final S-1 documents, inclusive of fees, by Wednesday. The regulator is then expected to request effectiveness on Monday after market close, paving the way for the anticipated Tuesday launch.Major Wall Street players, including BlackRock Inc (NYSE:BLK) and Fidelity National Financial Inc (NYSE:FNF), have been in discussions with the SEC for weeks, aiming to launch their spot Ether ETFs as soon as possible.The new financial products have been inching closer to a likely US launch after the SEC approved key regulatory filings from applicants in late May. However, before these new offerings can be traded on exchanges, the SEC must also approve the applicants’ S-1 filings.The push for Ether ETFs comes in the wake of the successful launch of spot Bitcoin ETFs in January. Since then, numerous financial institutions have been vying for the green light to introduce an ETF that allows investors to speculate on Ethereum’s price without having to purchase the cryptocurrency directly. More

Blockchain data tracker Whale Alert reports that a wallet containing 25 BTC has just been activated after 10.6 years. The value of the Bitcoin stash held in this wallet was $20,399 in 2013. This has skyrocketed to a staggering $1,569,552, marking an impressive 7,594% gain.Several dormant Bitcoin wallets have been reactivated in recent weeks. Just in the last 24 hours, a wallet containing 1,000 BTC that had been dormant for 11.8 years was reactivated.The value of BTC in this particular wallet has skyrocketed from $11,908 in 2012 to an astonishing $59,989,823. In another similar action, a Bitcoin wallet that contained 25 BTC and had also held this stash for 10.6 years was reactivated on July 13.Notably, the reactivation of this wallet comes at a time when Bitcoin is experiencing bullish momentum. Bitcoin rose to intraday highs of $63,393 after soaring for three consecutive days.This suggests that the wallet activation might have been a strategic move to capitalize on the market’s current bullish momentum. Perhaps the owner had to wait for the Bitcoin price to appreciate, hodling it for a significant number of years. Another scenario might be a long-lost wallet whose keys had just been rediscovered. However, the exact motive in this particular context remains unknown.At the time of writing, BTC was up 5.39% in the last 24 hours to $63,000.This article was originally published on U.Today More