
June 17th, 2025
$28.86 million Ether shorts and $29.61 million ETH longs were liquidated in the past 24 hours.
Despite the positive inflow, volumes in exchange-traded products (ETPs) remained remarkably low, currently standing at around $7.9 billion as of last week.
The digital currency ecosystem remains tightly constrained by the US SEC.
In May alone, two separate dormant addresses, both inactive for over a decade, sent over $100 million worth of BTC in combined transactions.
The SEC dismissed Ripple’s reference to the Binance case as irrelevant, accusing Ripple of selectively citing the ruling to downplay its mistakes and argue against severe penalties.
Despite multiple meetings between the parties, the SEC has maintained that it does not represent Gensler in his personal capacity and has refused to provide the requested documents.
The recent Bitcoin price drop below $59K has increased overall fear of further crypto capitulation despite heightened calls for buy-the-dip.
Ripple referenced Judge Berman’s recent opinion on secondary market sales in the Binance case. Ripple argues that this opinion is pertinent to its opposition to the SEC’s motion for remedies in the ongoing lawsuit.
Hashdex submitted an application for the product on June 18, 2024, seeking to be the first to offer a combined spot Bitcoin and Ether ETF in the United States.
These actions align with the current phase of penalties in the ongoing Ripple versus the SEC lawsuit.
Binance said that in a victory for the exchange, the US federal court has dismissed several claims against the exchange. The exchange said that it is ready to address additional legal hurdles that come its way.
Gallagher is not the only individual who is being considered for the SEC Chair position.
The SEC Commissioner criticized the Gensler-led agency’s approach to regulating crypto assets, particularly regarding the disclosure of information in Form S-1 filings.
Like a couple of other crypto exchanges, Binance and its then-CEO Changpeng Zhao were indicted by the SEC in June 2023.
Coinbase insists that so long as Binance’s BNB is not a security, its case should not be any different.