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Source: Adobe/Christophe Fouquin   The crypto market saw losses across the board on Wednesday as bitcoin (BTC) once again dipped below the USD 20,000 mark, and some analysts pointed to a risk of further downside. On Wednesday at 10:30 UTC, BTC stood at USD 20,123, down by 4% for the past 24 hours and by 3% for the past week. At the same time, ethereum (ETH) traded at USD 1,133, down by 7% for the day and up by nearly 1% for the week. Other popular altcoins, including Binance ’s BNB, FTX ’s FTT, and Avalanche ’s AVAX token all saw 24-hour losses of between 7% and 8%. Notably, the market sell-off on Wednesday came as news emerged that a court in the British Virgin Islands has ordered the liquidation of the crypto hedge fund Three Arrows Capital , which has for some time been rumored to be insolvent. Sky News said it has learned that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the fund. It was un...

Also Read: SOL Price Prediction: Bulls Poised For New Rally, Solana Strengthens Technical Outlook advertisement Earlier, CoinGape reported that JP Morgan analysts believe the U.S. Securities and Exchange Commission (SEC) will be compelled to approve the motion for approving the Grayscale Bitcoin ETF into a spot ETF. However, it remains to be seen which company among the likes of Blackrock, Ark Invest, Fidelity Bitwise will grab the filing for the ETF. Fresh Wave Of Bitcoin Investment Crypto community insiders believe that an ETF approval could bring in a fresh wave of funds into the digital assets market. Lark Davis, a Bitcoin investor, said it is estimated that anywhere between $20 to $30 billion in cash could be invested in Bitcoin, as and when the ETF is approved. For a perspective, this amount could be worth about 50% of all the BTC existing in the crypto exchanges currently. “Estimates are that a spot Bitcoin ETF would bring 20-30 billion of fresh cas...

Also Read: XRP Lawsuit: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveals Docs advertisement In this context, it will be interesting to see how Judge Analisa Torres, who is overseeing the Ripple Vs SEC lawsuit, will react to the Hinman documents. The part about Ethereum not being a security may be closely looked at. Ripple CEO: SEC May Have Bluffed All Through Considering the SEC’s enforcement actions on crypto businesses despite lack of regulatory clarity, the agency, according to Ripple CEO Brad Garlinghouse might have bluffed about its calls to come and register all through. He said the agency’s open invitations to come forward and register crypto tokens may have been a lie. “Seeing the depth to which the SEC has essentially weaponized the lack of regulatory clarity through enforcement actions since this speech was given – it’s no surprise that we can call bluff on their claims to “just come...

Also Read: Terra Luna Classic Validator To Fund USTC Repeg Team As Community Rejects Proposal advertisement What Is Solana Pay? Solana Pay is a decentralized payments protocol built by Solana Labs. With this, millions of businesses will have it as an approved app integration on Shopify. The app is built for instant transactions and near-zero gas fees. This partnership enables real time payments through blockchain without any costs for millions of merchants. With the blockchain based payments, the merchants would have the advantage of having ability to handle token based rewards and seamless across countries. How Much Cost Will Shopify Users Save Patrick Hansen, the Director of European Union’s Strategy and Policy at Circle, said users would be able to save a great deal in average cost per transaction if done using Solana Pay and USDC. He revealed that the USDC transactions would cost a meagre $0.00025 per order, as against the 1.5-2.5% in credit car...

Also Read: Gemini Cofounder Slams Gary Gensler: “America Deserves Better” advertisement While Shiba Inu (SHIB) is nearing the upcoming Shibarium launch, Dogecoin (DOGE) price has been on the rise recently after Elon Musk broke silence over the speculation of an X coin for payments on the social media platform. Earlier, CoinGape reported that crypto exchange Binance announced plans to launch Dogecoin weekly options in Tether (USDT) pair. Bitcoin Decoupling: What Next According to Santiment data, Dogecoin, Shiba Inu, ApeCoin and PEPE have temporarily decoupled from not just Bitcoin but also the altcoin category, earlier on Saturday, August 12, 2023. While the price rallies in these cryptocurrencies could be independent from each other, there could slow and steady repercussions on Bitcoin trading as this could be a sign of deviation to the popular altcoins. “There have been notable price ascensions from popular memecoins. $DOGE, $SHIB, $...

Also Read: Microsoft Partners With Aptos Labs For AI And Web3 Fusion, APT Token Spikes 18% advertisement US SEC’s Appeal May Fall Short: Attorney Analyzing the Summary Judgment by Judge Torres in the historic July 13, 2023 ruling, Deaton said there was no evidence to support the Third Howey Test, which states that “a person invests his money in a common enterprise and is led to expect profits.” He added that the US SEC would still face a hurdle when it comes to satisfying the common enterprise part. Attorney Deaton said he even offered to bet that the verdict will not be overturned. “I’m willing to bet a significant sum that she (Judge Analisa Torres) won’t be overturned.” Concerns of a possible appeal by the SEC grew when the agency’s lawyers said they intend to seek a review of the XRP ruling after Kwon cited Judge Torres’ ruling as a precedent. Recommended Articles ...