2025-01-16 12:30:00 by coingabbar

CryptoCurrency news Crypto News: Why Crypto Market Is Down - Ripple News and Bitcoin Ripple Co-Founder Chris Larsen Moves $60.5M XRP Amid SEC Appeal Ripple co-founder Chris Larsen transferred $60.54 million worth of XRP (20 million tokens) to an unknown wallet, sparking speculation within the XRP community. According to Whale Alert, this significant transaction coincides with the US SEC filing a fresh appeal challenging XRP's status as a security. The move has fueled rumors of potential accumulation by Larsen, especially as XRP gains traction following a 24-hour price uptick. This development has added to the growing buzz around Ripple and XRP. Texas Pioneers with Strategic Bitcoin Reserve BillTexas is set to lead the digital economy with Senate Bill 778 (SB 778), introduced by Senator Charles Schwertner. The bill proposes a Texas Strategic Bitcoin Reserve, allowing the state to hold Bitcoin as a financial asset to hedge against inflation and boost economic resilience. Key provisions include accepting public Bitcoin donations, allocating up to 1% of general revenue for Bitcoin purchases, and ensuring secure cold storage with regular audits. If passed, Texas will set a historic precedent. Spot Bitcoin and Ethereum ETFs Rebound with Massive Inflows January 15 saw a strong comeback for Spot Bitcoin and Ethereum ETFs, reflecting renewed investor confidence. Bitcoin ETFs recorded a staggering $755M in inflows, led by Fidelity's $463M contribution. Meanwhile, Ethereum ETFs attracted $59.78M, with Fidelity ($29.32M) and BlackRock ($19.85M) leading the surge. Ethereum's price rose 4.45% to $3,370.65, while Bitcoin's strong inflows followed four days of outflows. Both ETFs showcased their growing impact on the crypto investment landscape. Litecoin ETF Could Be the SEC’s Next Approval, Says Bloomberg Analyst A Litecoin ETF might soon gain U.S. SEC approval, as Canary Capital amends its S-1 filing. Bloomberg’s Senior ETF Analyst Eric Balchunas highlighted this development, suggesting growing SEC interest. Canary Capital initially submitted the proposal in October 2024, with the updated filing revealing U.S. Bancorp Fund Services as the fund administrator and Coinbase Custody Trust and BitGo as custodians. This move positions Litecoin as a potential frontrunner in the crypto ETF space. Pepe Coin Whale Moves 588B Tokens: Will the Price Crash? A crypto whale deposited 588 billion PEPE tokens worth $10.99M on Kraken, sparking fears of a potential price crash. This comes as Pepe Coin attempts to recover from its recent slump. The whale, holding these tokens for seven months, originally acquired them for $5.2M, now sits on $7.34M in unrealized profits, marking a 141% ROI. While the deposit hints at a possible sell-off, Pepe Coin’s recovery could determine its next move.