SEC Veteran Teases Potential Appeal Path in Ripple Case, 337 Billion SHIB Moved in 24 Hours, Ethereum’s Buterin Makes Major ETH Transfer to Kraken: Crypto News Digest by U.Today

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As a seasoned financial analyst with over two decades of experience under my belt, I find myself intrigued by these recent developments in the cryptocurrency world. Let me break down these stories for you from my perspective, drawing upon my extensive background in finance and understanding of market dynamics.

Here are the top three news stories over the past day presented to you by U.Today.

Ripple: SEC veteran teases potential appeal path in lawsuit

After the court ruling last week concluded the Ripple-SEC lawsuit, questions arose within the crypto community about potential future appeals by the regulatory agency. Marc Fagel, a former SEC regional director, has provided insights into what such an appeal might involve if it occurs. In response to user @kkirkbos, Fagel suggested that if an appeal happens, the SEC may try to contest the decision regarding programmatic sales – those conducted through third-party intermediaries. According to Fagel, these sales were ruled as not constituting an unregistered securities offering. If the SEC decides to pursue an appeal, Ripple could counter with a cross-appeal focusing on the institutional sales ruling.

337 billion Shiba Inu (SHIB) in 24 hours, What’s happening?

During the ongoing consolidation, the Shiba Inu coin’s value is dropping. Over the last 24 hours, it has decreased by 4.67%, currently trading at $0.00001309, as reported by CoinMarketCap. Despite this continuous downtrend, a significant event has taken place that might signal a reversal. Data from CryptoQuant reveals a substantial increase in SHIB tokens being withdrawn from major exchanges. On August 14 alone, approximately 337 billion SHIB tokens were taken out of large crypto platforms. This suggests that ‘whales’ are buying at low prices, which could help the meme currency endure the bearish pressure and potentially start an uptrend. Consequently, this trend is considered a strong bullish sign.

Ethereum’s Vitalik Buterin makes major ETH transfer to Kraken

Lookonchain cryptocurrency analytics platform has recently spotted Ethereum cofounder Vitalik Buterin depositing 200 ETH worth $534,000 to the Kraken exchange. Previously, Buterin made a transfer on Aug. 9, when he moved 3,000 ETH ($8.05 million at the time the transfer took place) to a multi-signature safe wallet. Per Lookonchain’s suggestion, that this could be a donation. On Aug. 5, the Ethereum cofounder also moved 3,000 ETH (worth $7 million at that time) to another wallet. It is believed that Buterin holds roughly more than half a billion dollars worth of ETH. He also sold all of his Neiro tokens for $112.5 in ETH at the beginning of August. Buterin received a 4% share of the token’s supply from the Neiro team.

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2024-08-16 19:56