Senin, 15 September 2025

Coinbase increases pressure on SEC


Plus, Goldman Sachs says a 50 bps cut isn't happening, but traders disagree.	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

Your weekly roundup of the 🔥hottest news in crypto:

Coinbase Increases Pressure on SEC, Goldman Sachs CEO Doubts Interest rate Cut, & Other News

Sept. 7 - 13

#1

Coinbase files legal motion over Gensler, SEC missing text messages

Coinbase is escalating its dispute with US regulators over past communications involving former Securities and Exchange Commission (SEC) Chair Gary Gensler.

Coinbase filed a legal motion on Thursday requesting a hearing to address the SEC Office of the Inspector General's investigation, which found that the agency deleted nearly one year's worth of text messages from Gensler and other senior officials in "avoidable" errors.

The exchange said the SEC should explain why it did not conduct a full search of agency records, including text messages from Gensler and senior SEC officials, when it requested the messages in several Freedom of Information Act filings from 2023 and 2024.

According to the motion, Coinbase wants the court to compel the SEC to search and produce all responsive communications originally requested, including all messages and documents from Gensler and the agency regarding Ethereum's shift to proof-of-stake consensus.

Get the full story

#2

Goldman Sachs CEO doubts 50 basis point cut is 'on the cards'

Goldman Sachs CEO David Solomon has shot down the notion that the US Federal Reserve will cut interest rates by 50 basis points in September, just days after Standard Chartered Bank made the aggressive forecast.

"Whether or not we have a 50 basis cut, I don't think that's probably on the cards," Solomon said during an interview with CNBC on Wednesday.

While CME FedWatch Tool data shows just 7.8% of market participants expect such a move at the Sept. 17 Fed meeting, Standard Chartered Bank recently raised its forecast to that level, citing August's weaker-than-expected jobs report, according to a Reuters report on Monday.

Pseudonymous crypto trader Mister Crypto said in an X post on Wednesday, "If that happens, crypto will explode through previous ATHs."

#3

US court to hear arguments for Sam Bankman-Fried's appeal on Nov. 4

Former FTX CEO Sam "SBF" Bankman-Fried, serving a 25-year sentence after his conviction on seven felony counts, will take the next step in his appeals process with a hearing scheduled for November.

According to a Wednesday notice in the US Court of Appeals for the Second Circuit, Bankman-Fried's appeals case has been calendared for arguments on Nov. 4. The court proceeding will mark the first significant movement in the former CEO's criminal case since his transfer from a New York City facility in March to one in California.

The hearing in the Second Circuit had been expected since Bankman-Fried's lawyers filed a notice of appeal in April 2024 over his 2023 conviction and 25-year sentence. Bankman-Fried's legal team argued in his appeal filed in September 2024 that the former CEO was "never presumed innocent," also claiming that prosecutors presented a "false narrative" of FTX user funds as permanently lost.

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Prediction of the Week

XRP flirts with $3 amid ETF approval hope: Is $3.60 the next stop?

XRP price faced rejection on Tuesday after reaching its highest level in nearly two weeks at $3.04. The move was driven by speculation around a potential XRP exchange-traded fund approval in the United States and increased institutional participation in XRP derivatives, raising expectations about whether XRP might revisit the $3.60 level seen in July.

Demand for XRP futures climbed 5% from the previous month, totaling 2.69 billion XRP — equivalent to $7.91 billion at prevailing prices. More notably, the number of outstanding XRP futures contracts listed at the Chicago Mercantile Exchange jumped 74% during the same 30-day span, reaching 386 million XRP. The increase highlights stronger participation from professional fund managers and market makers.

While higher futures activity generally indicates interest, long and short positions are always balanced. Still, monthly futures contracts can provide signals of leverage imbalances. Under neutral market conditions, XRP futures typically trade 5% to 10% above spot markets to account for the longer settlement period.

FUD of the week

Auditor flagged issue before $2.59M Nemo hack, team admits

Sui-based yield trading protocol Nemo lost about $2.59 million due to a known vulnerability introduced by non-audited code being deployed, according to the project.

According to Nemo's post-mortem analysis of the Sept. 7 hack, a flaw in a function intended to reduce slippage allowed the attacker to change the state of the protocol. This function, named "get_sy_amount_in_for_exact_py_out," was pushed onchain without being audited by smart contract auditor Asymptotic.

Furthermore, Asymptotic's team identified the issue in a preliminary report. Still, the Nemo team admits that its "team did not adequately address this security concern in a timely manner."

Deploying new code only required a signature from a single address, allowing the developer to push unaudited code onchain without disclosing the changes. Furthermore, he did not use the confirmation hash provided in the audit for the deployment, breaking the procedure.

FUD of the week

Blockstream sounds the alarm on new email phishing campaign

Blockstream, an infrastructure and hardware wallet provider, issued a warning about a new email phishing campaign attempting to target Blockstream Jade hardware wallet users.

The company confirmed on Friday that it never sends firmware files through email and said that no data has been compromised in the attack.

Phishing attacks are designed to steal crypto and sensitive user information through seemingly legitimate communication. According to Blockstream, the email featured a simple message directing users to download the latest version of Blockstream Jade wallet firmware by clicking on a link, which was malicious.

Phishing scams cost crypto users over $12 million in August and affected over 15,000 victims — a 67% increase from July, according to anti-scam service Scam Sniffer.