Latest Crypto Industry News: Ripple FUD, SEC v. Ripple Update, Ethereum ETF Concerns
Are you curious to know what’s been happening in the crypto industry over the past day? Look no further! In this U.Today news digest curated by Valeria Blokhina, we bring you the top three crypto news stories that you definitely don’t want to miss.
1. Bitcoiner Samson Mow Slams Ripple for Spreading FUD about Bitcoin and Tether
The crypto community witnessed a clash between Ripple CEO Brad Garlinghouse and Tether CEO Paolo Ardoino. In response to this confrontation, Samson Mow, the head of Jan3, took to social media to share his perspective. Mow sided with Ardoino, accusing Ripple of spreading FUD (Fear, Uncertainty, and Doubt) about Tether to promote its own stablecoin. This incident echoes a similar situation that occurred in 2022 when Ripple paid $5 million to Greenpeace to launch a campaign against Bitcoin. Mow’s insights shed light on the dynamics of competition and controversy in the crypto space.
2. SEC v. Ripple: Defendant Files Motion to Seal Documents
The legal battle between Ripple and the SEC continues to unfold, as Ripple recently filed a motion to seal or redact certain documents related to the SEC’s motion for judgment and remedies. Ripple argues that disclosing these confidential documents would harm its business interests significantly. The company seeks to protect sensitive information such as earnings, revenues, expenses, and contractual agreements with third-party partners. By requesting confidentiality, Ripple aims to safeguard its financial data and the identities of nonparty institutions involved in its operations.
3. Here’s Why Ethereum ETF Could Be Denied
James Seyffart, an ETF analyst at Bloomberg Intelligence, speculates on the possibility of the SEC denying Ethereum ETF applications by categorizing Ethereum as a security. This prediction comes in response to discussions about the regulatory classification of Ethereum and the implications for ETF approval. The SEC’s scrutiny on Ethereum’s security status raises concerns about the fate of proposed Ethereum-based investment products. As the SEC deliberates on the matter, the crypto community awaits the final decisions on VanEck and ARK’s Ethereum ETF filings scheduled for May 23 and 24.
In conclusion, the crypto industry continues to experience pivotal developments and regulatory challenges that shape the future of digital assets. Stay tuned for more updates and insights from Valeria Blokhina, the dedicated community manager at U.Today, as she delves into the latest news in crypto and blockchain. Follow her for expert analysis and comprehensive coverage of the dynamic crypto landscape.
