U.Today – Read the top three U.Today news stories from the previous day to stay up to date with the most vital updates in the cryptocurrency industry.
Cryptocurrency industry may experience ‘effect’, says leading expert
In a recent piece for Bloomberg, prominent legal reporter Chris Dolmetsch wrote that the Ripple case “bodes well” for the broader cryptocurrency industry. As a reminder, under the final judgment issued earlier this month, Ripple must pay $125 million in penalties to the SEC. The ruling was hailed as a victory for the fintech giant, as the amount is just a fraction of the $2 billion fine originally sought by the regulator. Dolmetsch noted that the case is “not over yet,” as the SEC can still appeal the court’s decision. However, the outcome could already have implications for how cryptocurrency lawsuits are handled in the future. According to Bloomberg Intelligence analyst Elliot Stein, Coinbase (NASDAQ:) could potentially benefit from the court’s recent decision in its own legal battle with the SEC. Last June, the agency accused the exchange of operating as an unregistered broker-dealer and clearing agency.
launches on-ramp feature with Visa (NYSE:) and Mastercard (NYSE:)
As per the recent announcement by Shibarium Network X, USDC BONE and Circle have become available for purchase with fiat currencies via Visa and Mastercard on Shibarium. This has been made possible by the on-ramp functionality from Visa and Mastercard for BONE by the Shiba Inu developers. With the recent integration, Shiba Inu aims to bridge the gap between time-honored finance and digital assets. With the integration with Visa and Mastercard, Shibarium can count on increased growth and adoption, making the BONE token more accessible to a wider audience. The launch of on-ramp services for the USDC stablecoin on Shibarium will also make it easier for fresh users to enter the Shiba Inu ecosystem.
Goldman Sachs reveals massive ETF holdings
As reported in a recent 13F filing with the SEC, Goldman Sachs currently holds $419 million in bitcoin ETFs. The majority of the aforementioned amount, $239 million, is held by BlackRock (NYSE:) iShares Bitcoin Trust (IBIT). Goldman Sachs also holds stakes in products such as Fidelity Wise Origin Bitcoin, Grayscale Bitcoin Trust, and so on. As previously reported by U.Today, Goldman has joined U.S. bank Citigroup and Swiss financial bank UBS in the list of authorized participants in BlackRock’s bitcoin ETFs. However, Goldman Sachs is not yet on board with cryptocurrencies. Earlier this year, the Wall Street Journal reported that the major financial institution has not warmed up to cryptocurrencies. Sharmin Mossavar-Rahmani, Goldman Sachs’ CIO, still has doubts about cryptocurrencies and will not accept them as an investment class.
