Dear PointPay Family,
We have a whole week behind us, which was filled with news and events. Cryptosphere again and again brings new and interesting changes, which are not always possible to keep track of. Especially for you, we have selected the top 5 news of this week.
Bitcoin Climbs Above $100K Amid Inflation Optimism
Bitcoin briefly surpassed the $100,000 mark, propelled by encouraging US inflation data. The cryptocurrency experienced its strongest intraday surge this year, rekindling hopes for a potential Federal Reserve rate cut under the incoming Trump administration. Speculation now swirls around how Trump’s plans, including the proposal of a national Bitcoin reserve, may shape the crypto industry.
While BTC has slightly retreated the market remains focused on whether Bitcoin’s 50% rally, fueled by Trump’s election win, will lead to profit-taking or sustained momentum.
Ripple Faces SEC Appeal as XRP Breaks $3 Barrier
The SEC has appealed a ruling that retail XRP sales don’t violate securities laws, intensifying its legal battle against Ripple Labs. The regulator insists all XRP transactions qualify as investment contracts under US law. Ripple, however, maintains confidence, with its legal team dismissing the SEC’s arguments as redundant.
XRP defied the regulatory pressure, surging 10% to $3.05 — its highest since 2018. Investors speculate the growth stems from optimism about Ripple’s resilience and potential developments like a spot ETF for XRP.
TON Blockchain Targets US Market with Leadership Shift
The Open Network (TON), closely tied to Telegram, eyes US expansion under new leadership. Manuel Stotz, founder of Kingsway Capital, has been appointed TON Foundation president, succeeding Steve Yun. Stotz expressed optimism about the US emerging as a crypto hub under President Trump’s administration.
TON’s journey has been turbulent, facing a legal clash with the SEC over its Gram tokens in 2020. Now, under independent management, the blockchain seeks to solidify its position as a major player in the evolving crypto landscape.
Bitfinex to Recover 94,643 BTC Stolen in 2016 Hack
US prosecutors have requested court approval to return 94,643 BTC to Bitfinex, a portion of the funds stolen in a 2016 hack. The recovered amount, valued at billions, was confiscated from the hacker, who was sentenced to five years in prison alongside his wife, Heather Morgan.
While additional confiscation procedures are needed for the remaining ~25,000 BTC, this development marks a significant milestone in Bitfinex’s recovery efforts, reinforcing trust in the platform.
SEC’s Gensler Clarifies Stance on Bitcoin and Ethereum
Outgoing SEC Chair Gary Gensler has stated that neither he nor his predecessors ever classified Bitcoin or Ethereum as securities. While refraining from definitive comments on their status, Gensler emphasized the importance of protecting investors through regulated crypto products.
As Gensler prepares to step down, the industry anticipates a more crypto-friendly approach under President Trump’s administration, potentially reshaping the regulatory landscape.
🔥 Buy PXP tokens on MEXC: http://bit.ly/3UhCgZn
🔥 Buy PXP tokens on Bitrue: https://bit.ly/3JEreHu
🔥 Buy PXP tokens on WhiteBIT: https://bit.ly/3qJrjRH
💰 Earn up to 7% yearly with PXP staking
📲 Trade at PointPay with Telegram app (@PointPayTMA_bot)!
🏦 PointPay - all crypto services in one place!