All eyes were on D.C. this week as lawmakers and regulators made moves that prompted pushback across the board, from the Federal Reserve welcoming foreign firms into its FedNow network while rebuffing U.S. applicants, to the SEC battling back Terraform Labs’ claims of victory thanks to a recent ruling in its lawsuit against Ripple.
The crypto confetti is still settling following a judge’s ruling that about half of the sale of Ripple’s XRP token did not qualify as the sale of unregistered securitiesâa decision that sparked hopes of greater crypto credibility and prompted an XRP rally that has pushed it up nearly 60% over the past two weeks.
But the SEC has finally fired back, saying the Ripple ruling doesn’t mean what crypto supporters think it means. The agency says the XRP case was “wrongly decided,” and flips the ostensibly definitive Howey Test “on its head.”
“Contrary to Rippleâs assertions, much of the ruling supports the SECâs claims in this case,â the agency claims. “The court must draw reasonable inferences in the SECâs favor.”
đŞ Coin of the moment
As a DeFi infrastructure play, Chainlink doesn’t often make headlines. While its creators have toiled for years on creating a secure bridge between decentralized apps and the outside world, progress has been steady but slow.
The company announced its Cross-Chain Interoperability Protocol (CCIP) nearly two years ago, calling it a “new global standard for decentralized inter-blockchain messaging, data and token movements.”
It finally launched this week, and the crypto market rewarded its commitment with a series of green arrows, according to CoinGecko, up nearly 15% for the week, nearly 30% over 14 days, and more than 43% for the past month. It’s currently trading at about $8.00.
That’s a far cry from the $51.00 it commanded in May 2021… but that’s true for just about every cryptocurrency.
Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax.
Mighty Action Heroes is the flagship blockchain title from Mighty Bear Games. But is the browser-based battle royale shooter worth checking out? Decrypt’s Kate Irwin offers her thoughts and a first look at the upcoming game.
