Senin, 30 Juni 2025

Ripple backs off, FTX pushes back👊


Ripple's dropping its SEC cross-appeal, while FTX just shot down 3AC's $1.5B claim—drama on both legal fronts.	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

Your weekly roundup of the 🔥hottest news in crypto:

Ripple to drop SEC cross-appeal, FTX rejects 3AC's $1.5B claim & More

June 22 - 28

#1

XRP spikes 3% after Garlinghouse says Ripple dropping SEC cross-appeal

XRP's price jumped over 3% on Friday, just hours after Ripple Labs CEO Brad Garlinghouse said the company is dropping its cross-appeal against the US Securities and Exchange Commission (SEC) and expects the regulator to do the same.

"Ripple is dropping our cross-appeal, and the SEC is expected to drop their appeal, as they've previously said," Garlinghouse said in an X post on Friday. XRP, the cryptocurrency associated with Ripple Labs, spiked 3.36% to $2.18 just five hours after the post, according to CoinMarketCap data.

"We're closing this chapter once and for all and focusing on what's most important – building the internet of Value. Lock in," Garlinghouse added.

Get the full story

#2

FTX rejects 3AC's $1.5B claim, citing 'failed trading strategy'

Lawyers acting for the collapsed crypto exchange FTX have rebuked a $1.53 billion recovery claim from Three Arrows Capital's (3AC) liquidators, arguing the losses resulted from a risky trading strategy that should not be paid for by creditors.

3AC liquidators initially filed a $120 million claim in FTX's bankruptcy case in June 2023 and expanded it to $1.53 billion in November 2024, alleging claims including breach of contract, fiduciary duty and unjust enrichment.

The liquidators alleged FTX held $1.53 billion in the hedge fund's assets that were liquidated to settle liabilities in 2022, contributing to 3AC's collapse, arguing the transactions were avoidable and FTX debtors had delayed providing the information that would have uncovered the liquidation.

#3

Coinbase claims 'key role' in Secret Service's biggest-ever crypto seizure

Crypto exchange Coinbase says it played a "key role" in supporting a US Secret Service investigation that resulted in the seizure of $225 million linked to crypto investment scams earlier this month.

On June 18, the Department of Justice filed to seize more than $225 million in crypto recovered by the Secret Service that was allegedly stolen by online investment scammers, which Agent in Charge Shawn Bradstreet said at the time was the largest cryptocurrency seizure in the agency's history.

Coinbase said in a blog post on Tuesday that it joined several other exchanges in an "investigative sprint" with the Secret Service in 2024 to identify scam victims, analyze chain flows and help build a case to seize the crypto.

Prediction of the Week

Bitcoin's 'bull pennant' targets $165K as BTC exchange flows hit 10-year lows

Bitcoin price registered a weekly high of $108,200 on June 25 after a 10% rise from its local low at $98,400 three days prior. BTC has now reclaimed a key support level as prices continued to consolidate below its $112,000 all-time high range.

Can Bitcoin price rise over 50% in the next few days?

Bitcoin rallied by 52% between April 8 and May 22 to reach an all-time high of $112,000. Since then, BTC price has oscillated between the all-time high and $100,000. The latest recovery from six-week lows below $100,000 suggests that the bulls are aggressively defending this level.

"Bitcoin reclaimed the key support area," said popular pseudonymous crypto analyst Jelle in a Wednesday post on X, adding that the BTC is now back inside a pennant on the daily chart.

A bull pennant is a continuation pattern that occurs after a significant rise, followed by a consolidation period at the higher price end of the range. A positive breakout from the pennant could potentially lead to the next leg up for Bitcoin, measured at $165,200 or 54% from its current price level.

FUD of the week

'Major bummer' — Users discover Ledger is sunsetting the 'OG' Nano S

Users across social media are dismayed after noticing Ledger, a major provider of hardware crypto wallets, announced last month it was sunsetting support for the Nano S.

In its Spring update on May 30, Ledger said it was transitioning away from the Ledger Nano S, and as a result, new applications, feature submissions and app updates would no longer be accepted. Another notice urging users to transition to a new device was published in April.

The Nano S was launched in 2016, making some devices close to 10 years old.

The wallet provider also encouraged users to check they have their 24-word Secret Recovery Phrase to maintain support.

FUD of the week

Anchorage 'Safety Matrix' faces backlash over stablecoin delistings

Anchorage Digital is drawing criticism from at least one stablecoin issuer after announcing plans to phase out support for three stablecoins, citing "regulatory expectations" and internal risk assessment.

Nick van Eck, co-founder and CEO of Agora, criticized Anchorage's move to remove support for stablecoins USDC, Agora USD, and Usual USD in a Thursday X post, claiming the decision was based on "easily verifiable and known factual inaccuracies."

He said that Anchorage failed to disclose its relationship with stablecoin issuer Paxos, which could potentially benefit from the phasing out of tokens issued by other platforms.