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- 31-10-2024
31-10-2024
Fernando Fierro
October 31, 2024
Howdy folks,
⚖️🔍 Ripple's legal saga with the SEC intensifies as top execs, Brad Garlinghouse and Chris Larsen, hire esteemed attorneys to dismiss ongoing charges. This move coincides with both Ripple and the SEC filing appeals that could significantly impact XRP's future and the broader cryptocurrency market.
The drawn-out legal battle may prolong uncertainty for investors while hindering regulatory clarity for the industry.
In other news:
🚀💳 Visa has taken a significant step into the crypto arena by enabling direct payments on Coinbase, allowing global users of eligible Visa debit cards to make instantaneous bank cashouts. This new development enhances Coinbase’s offerings with real-time Visa deposits, withdrawals, and even rewards for U.S. crypto debit cardholders, despite concerns about crypto transaction spreads influencing price locking.
However, it spotlights ongoing challenges in merging crypto with traditional finance, amplified by Visa's previous actions with Binance.
🚀💰 Binance is stepping up its game with the launch of Binance Wealth, targeting high-net-worth individuals through their trusted wealth managers. This new platform provides a TradFi-like experience with crypto investment support, offering services like spot trading, derivatives, and ETH staking.
However, Binance's market share has been declining due to regulatory challenges and CEO CZ's recent departure, sparking questions about its future in a competitive environment.
🚀📈 Bitcoin's market sentiment rockets as it nears its all-time high of $73,600, marking a robust return for BTC investors. The cryptocurrency's dominance has surged to a staggering 60.2%, sparking cautious sentiment in altcoins, while the Fear and Greed Index hits extreme greed with a reading of 77.
Market analyst Miles Deutscher suggests the more Bitcoin grows, the more promising an eventual altseason becomes, yet extreme greed might hint at an impending market correction.
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