This past week, the crypto community saw many top headlines break, including some bullish predictions for a few digital assets given the traditional bullish October. Also, the United States regulator, the Securities and Exchange Commission (SEC), compounded its legal woes.
Here are the biggest stories in case you missed them
Metaplanet Acquires 108 BTC at $6.7 Mln
At the beginning of the week, Metaplanet, known as Asian MicroStrategy, added to its Bitcoin (BTC) holding. The Japanese financial company purchased an additional 108.786 Bitcoin units at approximately $6.7 million. As a result, its stash increased to 639.5 BTC.
This brings the value of Metaplanet’s Bitcoin holding to $40.02 million. Moreover, this additional acquisition reflects the firm’s commitment to its Bitcoin accumulation strategy, which it picked from MicroStrategy.
Canary Capital Files to List XRP ETF After BitwiseÂ
It is no longer news that Bitwise filed its S-1 registration for XRP ETF with the SEC at the beginning of this month.Â
The latest over the past week is that investment management firm Canary Capital followed in its footsteps. The asset manager filed an S-1 to list and trade XRP ETF in the US. The Commission has yet to acknowledge Canary Capital’s filing or Bitwise’s.Â
However, the crypto community hopes the SEC will consider the offering. On one hand, the filings mark the evolving landscape of the crypto investment sector.
Crypto.com Sues SECÂ
After receiving a Wells Notice from the US SEC, crypto exchange Crypto.com thought it wise to launch legal actions against the agency. The firm sued the SEC, challenging its regulatory reach over cryptocurrency transactions. The exchange accused the agency of failing to provide clear regulatory guidelines. Instead, it resorted to a regulation-by-enforcement campaign.
Another lawsuit against the SEC this past week is Ripple’s cross-appeal to end the SEC’s regulation-by-enforcement agenda. Additionally, crypto derivatives exchange Bitnomial sued the Commission over its XRP Futures product.Â
SHIB And XRP Price PredictionsÂ
Over the past week, Aaron Arnold, founder of Altcoin Daily, downplayed the possibility of Shiba Inu (SHIB) price attaining $0.01 by 2025.Â
The market analyst based his argument on the token’s market cap. SHIB’s market cap must top $5.89 trillion to reach the $0.01 goal, an unrealistic valuation.
On the other hand, OpenAI’s ChatGPT recently predicted that XRP would hit $2.5 soon. This price action is conditional on the SEC approving the XRP ETF and the Ripple vs. SEC resolution favoring the blockchain payment company.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
