U.Today – U.Today presents the three most critical news from last weekend.
An SEC veteran comments on speculation regarding the timing of the lawsuit’s dismissal
Events in the Ripple-SEC case continue, and last week the regulator filed a pre-civil hearing declaration (Form C) and attachments. However, most observant members of the XRP community have noted that the filing was dated October 16, but the court seal means it was received on October 17, raising questions about the impact of these dates on the appeals process. As a reminder, the SEC’s appeal focuses on Ripple’s sales of XRP through exchanges, Ripple’s distribution of XRP to employees and others, and Brad Garlinghouse and Chris Larsen’s sales of XRP on exchanges. Former SEC official Marc Fagel commented on the issue, suggesting that the date differences should not impact the proceedings, especially since the SEC maintains that the filings were timely. “They collected the materials on Wednesday morning (as evidence shows). Why it took so long for the case to be in the file, no one fully understands, but it is irrelevant,” he said.
DOGE, SHIB dominate the cryptocurrency market with a five-month peak in social activity
As web analytics firm Santiment recently reported, popular meme coins like and are growing in popularity, marking the highest level of crowd discussion in five months. This increase coincides with the company’s recent performance, which briefly touched $69,000, prompting speculation that it could soon reach $70,000. As investors react to the optimism surrounding Bitcoin, they are increasingly focusing on highly leveraged speculative meme coins, leading to an increased discussion rate. It is worth noting that there was significant public engagement with meme coins last week, which was reflected in the price increase; Dogecoin rose about 30% while Shiba Inu gained 8%. This trend appears to be consistent with the redistribution of Bitcoin profits to altcoins, which is particularly beneficial for meme coins.
$2 Billion in Bitcoin in Seven Days: Here’s What’s Happening
According to a recent post on X by Arkham Intelligence, Bitcoin ETFs bought over $2 billion worth of Bitcoin last week, marking the largest inflow since March. This increase indicates renewed interest and confidence in the largest cryptocurrency among institutional investors, following the initial approval of Bitcoin ETFs in the US in January. Major contributors to this inflow include BlackRock (NYSE:), Fidelity, ARK Invest and Bitwise, with BlackRock leading the way in Bitcoin acquisitions; increased its holdings by an impressive $1.14 billion. Other ETF players also increased their investments: Fidelity increased its holdings by $319 million, ARK Invest by $306 million and Bitwise increased its portfolio by $150 million. Bitcoin’s price reached an all-time high of $73,797 in March, before falling by more than 30% by August and now entering a new phase of growth.
