Crypto Headlines Of The Week: Ripple, Binance, & Pepe Coin Drive Frenzy

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As an experienced crypto analyst, I’ve been closely monitoring the global crypto landscape for years, and this week has been particularly intriguing with developments surrounding Ripple, Binance, and Pepe coin. Let me share my insights on each of these topics.

In the world of cryptocurrencies, another week has come to a close with Ripple, Binance, and Pepe coin generating significant buzz among investors. The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) saw some thrilling developments this past week. Meanwhile, Binance simplified its cryptocurrency selection process. Pepe coin became the center of attention in the meme coin community, instilling hope for a promising future.

As a dedicated researcher in the field of cryptocurrencies, I delve deeper into the most captivating news stories that dominated the scene over the past week.

Ripple vs U.S. SEC: Here’s All That Happened

There’s growing buzz that the Ripple vs. SEC lawsuit may come to a close soon based on recent developments. Ashley Prosper, a seasoned XRP lawsuit analyst, highlighted the significance of the SEC’s definitive response during the remedies phase for the outcome of the case.

As a researcher studying the ongoing legal proceedings between the United States Securities and Exchange Commission (SEC) and Ripple Labs over XRP, I’ve observed that on May 6, the SEC submitted its final reply in the remedies phase of the case. However, not without criticism. Pro-XRP lawyer James Murphy voiced his concerns, labeling the SEC’s reply as insignificant and underargued regarding the financial harm experienced by institutional investors.

As an industry analyst, I’ve been observing the ongoing discourse surrounding Ripple’s legal battle with the SEC. The general consensus in the broader crypto community seems to suggest that the SEC’s arguments for remedies and final judgment in their reply briefs may not be as strong as anticipated. Ripple’s Chief Legal Officer, Stuart Alderoty, has reaffirmed this sentiment.

As a researcher, I’ve come across intriguing news about Ripple Labs, an American blockchain payments company. There are indications that they might introduce a stablecoin in June, according to hints from their CTO, David Schwartz. However, during this period, XRP, the cryptocurrency associated with Ripple Labs, has shown lackluster trading activity in the market.

Binance’s Crypto Offerings

As a researcher, I’ve come across some intriguing news regarding Binance, a globally recognized crypto exchange. This week, they announced several developments in the cryptocurrency sphere. Notably, it was reported that the U.S. Department of Justice (DoJ) requested the assistance of Forensic Risk Alliance (FRA) to scrutinize Binance Holdings’ operations following their involvement in a money-laundering investigation.

I’ve observed this past week that wallets associated with Binance have destroyed approximately 222 million Terra Luna Classic tokens (LUNC). In a related development, Binance CEO Richard Teng made an appeal for the freedom of their detained executive, Tigran Gambaryan, who allegedly faces unjust confinement.

In addition, Binance Futures, the derivatives division of Binance, made an announcement regarding the deletion of USDⓈ-M perpetual contracts for specific crypto assets including STP, Snz, MBL, RDN, and CVX. Furthermore, Binance revealed its plan to eliminate all BIDR (Indonesian Rupiah-backed stablecoin) products and services from its platform.

In the midst of the ongoing saga of delisting, Binance disclosed that it would be discontinuing support for the USDⓈ-M contracts for IDEXUSDT, SLPUSDT, and GLMRUSDT. Concurrently, the exchange unveiled Notcoin (NOT) as its latest addition to Binance Launchpool, marking project number 54.

It’s fascinating that Binance has now registered with the FIU (Financial Intelligence Unit) in India, adding another layer to its presence and influence in the cryptocurrency sector.

Pepe Coin Sparks Bullishness

Amidst the ongoing discourse in the meme coin market, Pepe coin gained significant attention. It was observed that a savvy investor had amassed approximately 143 billion PEPE coins within a week, sparking great enthusiasm among investors.

In the past week, despite PEPE already experiencing a surge in value (bull run), there was a significant increase in accumulations of this frog-themed meme token. A large investor, or whale, purchased an impressive 357 billion PEPE tokens from Binance. Additionally, many other crypto market investors have amassed a total of 650 billion PEPE coins.

As a researcher studying the cryptocurrency market, I’ve observed that the unique aspects of Pepe coin have helped it make notable progress in the face of broader market instability and negative sentiments towards it. Additionally, based on historical trends, we anticipate a potential price surge for Bitcoin following its halving event.

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2024-05-12 08:36