This morning, BTC was down 0.82% to $30,380 for the current week. JPMorgan noted that such ETFs have existed in Canada and Europe for years. On Friday, US banking giant JPMorgan ( JPM) gave its assessment of the Spot ETF applications, doubting that the approval of a US Bitcoin ETF would be a game changer. Fink’s words also provided brief support before BTC and the broader crypto market hit reverse on Fed Fear. Blackrock CEO Larry Fink spoke later in the week, hailing BTC as an international asset and labeled BTC digital gold.
The markets responded favorably to the filing. Addressing comments from the SEC, Blackrock announced a surveillance agreement with Coinbase ( COIN), which is currently facing SEC charges. On Monday, the NASDAQ Stock Market LLC refiled the iShares Bitcoin Trust ETF application with the SEC. ( BLK), Fidelity, & co resubmitting their applications, uncertainty lingered on whether the SEC would approve any, some, or all. While the markets responded favorably to the news of Blackrock Inc. The euphoria from the end of June fizzled out in the first week of July. But the reasons dreamed up by the news are completely wrong.”īNB was down 4.50% to $235.4 this morning.īNBUSD 080723 Weekly Chart Bitcoin ETF Euphoria Waned on JPMorgan Assessment Yes, there is turnover (at every company). News of executive-level departures and reports of Binance cutting headcount also tested buyer appetite.īinance CEO CZ tried to downplay the news, saying, The latest regulatory probe follows increased scrutiny by regulators in Europe as governments and regulators respond to the SEC filing against Binance.US, Binance, and Binance CEO CZ. The Australian regulator reportedly searched the Binance offices. On Wednesday, news hit the wires of the Australian Securities & Investments Commission ( ASIC) investigating Binance’s Australian derivatives business. Increased regulatory scrutiny tested binance coin ( BNB) support, as the Australian Security and Investment Commission (ASIC) joined a growing list of regulators to investigate the exchange. It was another tough week for Binance and Binance CEO CZ. XRPUSD 080723 Weekly Chart Binance Troubles Continued to Grow as Regulatory Scrutiny Intensified Welfare offered two real-use cases related to real estate tokenization, including allowing users to tokenize real estate as collateral for loans.įor the current week, XRP is down 3.67% to $0.4667, with the bears targeting a fourth weekly loss in five weeks. “CBDCs are gaining traction globally, and Ripple CBDC team are focusing in on real-world use cases for a CBDC or stablecoin.” Ripple CBDC advisor Antony Welfare had this to say, Ripple is actively exploring CBDCs and use cases of CBDCs and stablecoins in the real world. News of Ripple entering the tokenized real estate space was also XRP positive, with the Ripple platform continuing to grow despite the SEC v Ripple case.Ĭentral Bank Digital Currencies have gained traction this year. “UBRI has now established more than 50 university partners across six continents, awarded 590 fellowships and scholarships, and supported the publication of over 1,000 research articles and presentations.” Sharing the latest on Twitter, Ripple said, On Friday, Ripple shared updates on the UBRI program that started in 2018.
Investors brushed aside Ripple-related news that, under normal circumstances, would deliver XRP price support, reflecting the bearish sentiment toward the Court silence. However, the documents failed to cause a market uproar, leaving investors in limbo until the summary judgments. The XRP community had hoped for a settlement before the SEC released the speech-related documents. Sentiment has deteriorated since the SEC released the William Hinman speech-related documents.
The lack of Court rulings left XRP in a bearish trend pattern. It was another quiet week for XRP, with no updates from the ongoing SEC v Ripple case to provide direction. XRP Underperforms on SEC v Ripple Silence
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