Welcome to our latest Coinpedia crypto news update! We have some exciting developments and updates to share with you about the world of cryptocurrency.
The crypto market has been keeping a close eye on two high profile lawsuits involving Grayscale and the SEC and XRP, both of which are in their final stages. Ripple’s victory against the SEC and Grayscale’s approval of their GBTC spot Bitcoin ETF application could potentially trigger the next crypto bull run, along with the end of the war in Ukraine and the Bitcoin halving in 2024.
In other news, Binance.US has received approval to acquire the assets of bankrupt crypto lender Voyager Digital from a ruling by a bankruptcy judge in the Southern District of New York. This acquisition could have significant implications for the crypto market, as Binance.US faced regulatory hurdles and scrutiny from US regulators during the acquisition process.
Amazon is also entering the NFT market with the launch of their own NFT platform, which will feature a “phygital” (integration of physical and digital elements in the shopping experience) aspect where Amazon customers can purchase fashion-oriented NFTs related to physical products and focus on blockchain-based games where users can earn NFTs.
Meanwhile, Grayscale and the SEC are engaged in a court debate in the District of Columbia Court of Appeals, with the SEC rejecting Grayscale’s application to convert GBTC into a Bitcoin spot ETF. Judge Rao has raised questions about the relationship between Bitcoin futures and spot prices, asking the SEC to explain the difference between the two.
Finally, Ripple CEO has called for rebuilding trust in the crypto industry after recent setbacks, highlighting the need for utility and transparency in the industry. With the XRP SEC lawsuit nearing its conclusion and the US regulatory scenario remaining complex, there is a lot of work to be done to establish a more robust framework and infrastructure for registered tokens to trade.
That’s all for now, but stay tuned for more updates on the world of cryptocurrency!