瑞波 · 970

J.P. Morgan Chase revealed increasing Bitcoin and Ethereum ETF holdings, returning to XRP and opening new Solana positions

Comparatively, according to Coinpedia, J.P. Morgan Chase's second-quarter 13F documents, with an asset management scale of about 5.1 trillion US dollars, submitted to the US SEC showed a significant adjustment in its crypto-related ETF holdings. In terms of Bitcoin, the bank holds a total of about 10.4 million shares of BlackRock IBIT, worth about US$355.7 million as of June 30, up from about 8.3 million shares and nearly US$162 million in the first quarter; IBIT's bullish options increased to about 3.94 million, and put options fell from about 4.75 million to about 3.5 million. On the Ethereum side, J.P. Morgan holds nearly 1.17 million shares of BlackRock ETHA worth of about $14.3 million, an increase of 338% over the previous quarter, but the value of Bitcoin positions is still more than 20 times that of ETHA. On the XRP side, the bank re-established positions after the relevant positions returned to zero in the first quarter, holding a small share of the Bitwise XRP ETF and Grayscale XRP Trust ETF, and holding about 19,900 Armada Acquisition Corp II shares related to Ripple-backed transactions, worth about $207,000. In addition, the document also shows that J.P. Morgan Chase created a new Bitwise Solana staking ETF position, about 47,500 shares. The article also mentioned the recent net outflow of US spot Bitcoin ETFs, and the next 13F, which covers the third quarter, is expected to be disclosed in November.

8d ago

USDT surpasses Ethereum in market capitalization, why is the public chain value not growing at the same time?

Author: Jon Reiter Compiled by: Luffy, Foresight News Original title: USDT's market capitalization overtakes Ethereum, what signals are being sent behind it? At one point, USDT surpassed Ethereum in market capitalization. At the time of writing this article, the market value of USDT was slightly lower than that of Ethereum, and the market value difference between the two was only a few percentage points. What does it mean that USDT has become a cryptocurrency after Bitcoin? At the same time, one phenomenon worth pondering is that the size of stablecoins has continued to expand over the past ten years, while the market capitalization of mainstream non-stablecoin coins such as Bitcoin, Ethereum, Solana, BNB, Ripple, and Wave has stagnated all year round. This has nothing to do with safety. First, let's be clear that this doesn't mean anything. Many Web3 solutions rely on one type of asset to provide a “financial safety cushion” for another type of business. A typical example: the general design logic of oracles, where decentralized autonomous organizations (DAO) vote to ensure data accuracy, and the price output by the oracle is used to settle various contract transactions. Projects such as Chainlink are all variants of this logic. The premise for the establishment of such a mechanism is that the total market value of DAO governance tokens must be much higher than the size of transactions settled through this oracle. The reason is simple: if it only takes $1 million to control the DAO but can manipulate the settlement of contracts worth $10 million, this system is completely economically insecure. This is not a technical loophole in the code; rather, there is a flaw in the economic incentive design. Interested people can control the system at low cost to achieve self-interest and contrary to objective and impartial results. However, Ethereum does not provide any financial security endorsement for USDT at all. USDT is also distributed on dozens of public chains such as Bochang, and none of these public chains can back USDT. Theoretically, even if someone breaks down a certain public chain that issues USDT, and either doubles or invades other people's tokens, the USDT operating company Tether can directly freeze, recover the on-chain tokens, and reissue them on other chains. Whether the total market value of this public chain is only $1 or $1 trillion, Tether can complete the operation: it only needs to pay the on-chain transfer fee and fully control the right to dispose of the token. Even if the attackers completely control the entire public chain and block Tether's official contract interaction, the project party can simply abandon this chain and refuse to pay all USDT on the chain. At that time, the team can guarantee that innocent users can redeem assets on other chains through solutions such as hard forks and offline ownership certificates. Tether will independently arrange the entire process. Controlling the public chain also has no influence on Tether's dollar reserves. It is undeniable that USDT relies on public chain circulation, so the market needs a number of stable, usable, and secure underlying networks. But that's all; the core entity of asset security has always been Tether. As long as there is a reliable public chain on the market, USDT can circulate normally. A reliable standard for public chains is that native tokens generally have a considerable market value. However, the market value of native tokens does not provide a real security guarantee for stablecoins, so it is entirely possible to create a public chain with a market value of only a few billion dollars or even hundreds of millions of dollars of native tokens, carrying the circulation of stablecoins on a scale of 100 billion dollars. If the total market value of a public chain's native tokens is only $1 million, it is difficult to support a mature DeFi ecosystem, and users won't be willing to deposit billions of USDT on it; however, as long as users are willing, there are no hard barriers in terms of security logic. This does not mean that Ethereum itself is flawed, and the USDT market value continues to rise relative to Ethereum. This does not indicate that the value of Ethereum itself has been damaged. Admittedly, the rise in USDT market value means that more and more capitalized users are in demand to use stablecoins, but this does not mean that the demand for USDT use exceeds that of the Ethereum ecosystem. USDT is a value storage tool that relies on issuer reserves and endorsements; ETH tokens are essentially proof of future earnings in the blockchain space of the entire Ethereum network. Even if the market is extremely optimistic about Ethereum, the network expansion will lead to a sharp increase in the supply of block space and a drop in processing fees, which will suppress the price of ETH; conversely, the extensive use of USDT by users will only boost the total amount of USDT issued, and will not change the price of a single USDT of 1 dollar. The fact that users choose USDT to deposit funds has nothing to do with the competitiveness and development prospects of Ethereum as the underlying platform for Web3. We can intuitively understand it through two extreme hypotheses: USDT can far surpass Ethereum in both scenarios, but the situation of Ethereum is very different. Scenario 1: The market basically abandons Ethereum, and a better bottom layer appears...

43d agoburnking#USDT #Ethereum

Traditional financial clearing is online around the clock, and the crypto industry has not been able to get admission tickets

Article: Protos Compiled by: Chopper, Foresight News Original title: US stocks are being liquidated around the clock. Cryptocurrency has not been able to get tickets for many years. The crypto industry has always held a uniform rhetoric when promoting blockchain: digital assets can be traded uninterrupted for 7 x 24 hours, while traditional financial exchanges are closed at 4 p.m., and not resumed until the next day. This week, the world's largest clearing house completely denied this assertion. The US National Securities Clearing Corporation (NSCC) is a stock business subsidiary of the American Depository Trust and Clearing Company (DTCC). DTCC processes securities transactions of up to 100 trillion US dollars throughout the year. According to the latest announcement, NSCC now clears operations 24 hours a day, every business day. As a reference, DTCC handled a total of about 3.7 trillion US dollars of securities transactions last year, and its stock clearing system can now handle traditional financial transactions such as stocks overnight. DTCC is transitioning to an around-the-clock clearing system in stages. The US Securities and Exchange Commission (SEC) first approved rule revisions, and institutions completed customer testing earlier this year; major exchanges such as NASDAQ plan to launch nighttime trading sessions one after another from this year to 2027. Although NSCC externally claims to operate 24 hours a day, 5 days a week, the agency admits that although the core clearing system operates uninterrupted, some supporting systems will be suspended for one hour during the night on weekdays for technical maintenance. This time DTCC extended the liquidation period, which had a huge impact on the crypto industry's core narrative of “never going out of business.” There is only one differential advantage left on the crypto circuit: DTCC is only open for clearing on weekdays, and the crypto market can cover weekdays + weekends; if this 5×24 hour operation runs smoothly and market demand continues to rise, DTCC will not rule out further opening weekend clearing services in the future. DTCC has repeatedly caused crypto believers to lose their expectations and investors still have illusions. Some people are trying to interpret this news as good for the industry: “DTCC officially began round-the-clock liquidation from Monday to Friday, paving the way for full tokenization of assets.” This kind of interpretation is highly subjective and deviates from the facts. Although tokenization of traditional assets such as stocks has already been piloted on a small scale, DTCC is not obligated to choose any public chain, and is more likely to develop its own private distributed ledger. In fact, the DTCC update is just another example of how it has repeatedly disappointed crypto enthusiasts over the years. Whenever DTCC releases any blockchain-related project, the crypto community always imposes its own good expectations. Over a long period of time, supporters of public chains such as Ethereum and XRP ledgers have repeatedly predicted that DTCC will complete the relevant system connection, but the relevant implementation has never been realized. In terms of actual production business system selection, the clearing agency always gives priority to using entry-type closed private infrastructure over public chains. DTCC launched the Ion project in 2022. This settlement platform was built on a private license ledger and did not use any public chain; subsequent commercial projects continued the same model selection logic. In December 2025, DTCC partnered with Digital Asset to tokenize US bonds on the licensed Canton network. Public chain developers have criticized the program for its high entry threshold, but it has not changed institutional decisions. Expectations are particularly strong from XRP holders. Protos previously reported that none of DTCC's current clearing operations are connected to the XRP ledger. A list announcement earlier this year also failed to change the status quo; it was only overinterpreted by the Ripple community. In summary, the world's leading clearing agencies have successfully implemented an all-weather clearing system without using any public chains throughout the process, and there are no traces of on-chain business that crypto enthusiasts have always predicted. XRP, which is frequently tied to DTCC by the crypto market, was $1.05 at the time of writing, down about 20% in the past 30 days, directly lower than a year ago. The all-weather market for traditional finance, relied on the smooth launch of the original mature infrastructure, and the crypto industry did not get a share of the entrance tickets. Twitter: https://twitter.com/BitpushNewsCN比推 TG Community: https://t.me/BitPushCommunity比推 TG Subscriptions:... https://t.me/bitpush

52d agoburnking#Traditional finance #cryptocurrency

From free markets to closed networks: with the entry of global central banks, can the stablecoin cake be preserved?

Author: Thejaswini M A Compiled by: Chopper, Foresight News Original title: When the world's eight major central banks enter the market, should they share the stablecoin cake? Thousands of years ago, Agorá in ancient Greece was a public market square in Athens. Anyone could attend, trade freely, had no entry threshold, and was not bound by geographical jurisdiction. “No permission required” is the original meaning of the term. The Bank for International Settlements (BIS) named the project Agorá, which is intriguing. However, the actual design of the Agorá project, led by BIS and launched by 7 central banks and more than 40 private institutions, is the exact opposite of the meaning of “free market.” In this system, funds are marked with the country they belong to before they are transferred; smart contracts automatically complete anti-money laundering screening and sanctions list checks at the token level; central banks completely control their own reserves, and cross-border capital flows must go through a compliance check layer embedded in the token. Simply put, it's a programmable fiat currency system that requires approval before everything is approved. The seven major central banks participating in the Agorá project are the Federal Reserve of New York, the Bank of England, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Bank of Switzerland, and the Bank of France representing the Eurozone; the Bank of Canada was added to the list four days ago. Financial giants such as J.P. Morgan Chase, HSBC, Deutsche Bank, UBS, Mastercard, Visa, and the Global Banking Financial Telecommunication Association (SWIFT) participated in research and development with more than 40 institutions. One project brought together such huge institutional strength, so I decided to thoroughly dismantle this system. The project structure uses a two-tier separation design: one layer is fully controlled by central banks and is responsible for the underlying base currency reserves; the other layer is operated by commercial banks to handle the daily transactions of end users. Tokenized commercial bank deposits are uniformly collected on a shared platform, and multiple private institutions collaborate to handle multi-currency clearing; while central bank reserves are stored independently in the country's exclusive ledgers, the sovereignty is always firmly held in the hands of each sovereign central bank. BIS is trying to establish a closed-loop payment system controlled by the country by integrating commercial bank accounts and anchoring each country's sovereign reserves. The agency is speeding up the implementation of the compliance framework, with the intention of completing the layout just before decentralized stablecoins such as Tether completely split global commerce and traditional banking systems. Currently, cross-border payments are like a relay race: message transmission, manual compliance verification, and ledger settlement are divided into different institutional systems, which can easily take days. The Agorá project condenses lengthy multi-link collaboration into an instant operation on a single chain. The prototype came to an end on May 27, 2026, and the Bank of Canada immediately announced the partnership. The organizers emphasized that the current stage is still an infrastructure test, and there is no official commercial implementation schedule yet, but the next stage will be a pilot project in a real funding scenario. Unlike the central bank in the past, which only published research reports, it took two years for the seven mainstream monetary authorities to complete the development and actual testing of this real-time cross-border clearing system, and the underlying code has already been completed. The existing difficulties in the project are no longer technical issues, but rather how many governments supervise the implementation of shared networks and divide powers and responsibilities, and administrative coordination are extremely resistant. The established cross-border messaging giant SWIFT is simultaneously advancing the bottom layer transformation, and the layout level is exactly at the commercial bank level. On March 30, 2026, SWIFT's blockchain-based shared ledger finalized the design plan, began minimum viable product (MVP) development, and plans to launch real-time transactions within the year. The ledger is built on Hyperledger Besu, which is compatible with the Ethereum Virtual Machine (EVM), and the final settlement of funds is still completed off-chain using the traditional real-time full payment system. However, SWIFT and Agorá are not in competition: SWIFT ledgers focus on tokenized deposit reconciliation between commercial banks, and Agorá undertakes the final large liquidation of central banks' reserves. At the beginning of the design, BIS realized standard interoperability between the two systems. The traditional cross-border clearing system is being transformed into a programmable digital network in two steps in an orderly manner. Looking closely at the list of participants, it is easy to see that there is a high degree of overlap: Deutsche Bank is a core member of Agorá, and formed an alliance with nine banks including Goldman Sachs, Bank of America, Barclays, and Santander to explore the issuance of 1:1 reservation-supported tokens on the public chain; UBS and Citibank also entered the market; J.P. Morgan participated in Agorá and operated its own JPM Coin, and recently launched a cross-border clearing pilot project on Ripple's ledger. This kind of two-tier investment is very abnormal in the financial industry: the usual practice of institutions is to concentrate technical resources and bet on a technical route. The leading team simultaneously developed two sets of competing solutions, which reflected the division of opinions within the bank management...

81d agoburnking#central bank #stablecoins

[Comparative Daily News Picks] Trump also gave a vague timeline for ending the war: soon, but not this week; Wall Street Journal: SEC will announce a proposal to cancel quarterly reporting requirements as soon as next month; Chicago Board Options Exchange plans to launch a 24x5 trading model for US stocks in December 2026; OpenSea delays the issuance of SEA tokens and will refund part of the transaction fees

Web3 news selected for you every day by Bitou Xiaobian: [Trump gives a vague timeline for ending the war: soon, but not this week] Comparative News, US President Trump has once again given a vague timeline on the duration of the war with Iran, saying that the conflict will “end soon.” When asked by reporters if the US can end this war this week, Trump replied, “I don't think so. But it will be quick. It won't be long.” He also said, “The world will be safer when this is over. It's going to be over soon.” [Wall Street Journal: SEC will announce a proposal to cancel quarterly reporting requirements as soon as next month] In comparison, according to the Wall Street Journal, the US Securities and Exchange Commission (SEC) is preparing a proposal to cancel the quarterly reporting requirements for listed companies. A proposal to cancel the quarterly reporting requirement will be announced as soon as next month. It is reported that this move is aimed at reducing the disclosure burden on companies and encouraging long-term investment, but it may cause controversy over transparency. [Chicago Options Exchange plans to launch a 24x5 trading model for US stocks in December 2026] In comparison, the Chicago Options Exchange Cboe Global Markets, Inc. (Cboe: CBOE) announced that it has submitted a proposal to the US Securities and Exchange Commission (SEC) to launch near-24-hour (5 days a week, 24 hours a day) US stock trading on its Cboe EDGX Stock Exchange (EDGX). Cboe is scheduled to go live in December 2026, subject to regulatory approval of its application and depending on the preparations of relevant industry infrastructure providers. According to the proposal, EDGX will provide all NMS stock trading from 9 p.m. on Sunday to 8 p.m. on Friday, and will suspend operation and maintenance for one hour every night from Monday to Thursday from 8 p.m. to 9 p.m., to achieve nearly 24 hours of trading, excluding US market holidays. All transactions are intended to be settled through DTCC. [OpenSea delays SEA token issuance and will refund part of the transaction fee] In comparison, OpenSea co-founder Devin Finzer announced that the $SEA token issuance event originally scheduled for March 30 will be postponed. He said that the current crypto market environment is full of challenges, and $SEA only has one opportunity to be issued, and the team wants to ensure that everything is foolproof before moving forward. As a compensation measure, OpenSea will refund the processing fees generated on the platform by users participating in the 3-6 season bonus campaign, which is equivalent to “free” transactions during these periods. Users who choose to refund will have their corresponding Treasures rewards withdrawn. Treasures already held will receive “meaningful consideration” from the Foundation at the time of TGE. Additionally, OpenSea will reduce the platform's token transaction fee to 0% from March 31 for 60 days, after which it will launch a new, more competitive rate system. The product launch event originally scheduled for March 30 will also be postponed to the next few months. Finzer emphasized that it was a tough but right decision. “We are willing to make tough choices at critical times”, and the OS2 platform remains the foundation for all of the company's business. [Nvidia launches NemoClaw to help minimize “shrimp farming”] In comparison, OpenClaw, an open source artificial intelligence agent commonly known as “lobster,” has recently become very popular. Nvidia (NVDA.O) has also announced the launch of a minimalist model to help users “raise shrimp”. Nvidia CEO Hwang In-hoon announced the launch of NemocLaw for the OpenClaw proxy platform at the GTC event on Monday. Users only need a single command to install a deployment toolchain deeply optimized for OpenClaw. NemoClaw uses Nvidia Agent Toolkit software to optimize OpenClaw with just one command. It installs OpenShell and provides an open model and isolated sandbox to add data privacy and security guarantees to autonomous agents. [T.Rowe Price submits a second amendment to its actively managed cryptocurrency ETF] According to Coindesk, T. Rowe Price submitted a second amendment to its actively managed cryptocurrency ETF, which will track various assets including Bitcoin, Ethereum, Ripple, Litecoin, and SHIB. [Driven by geopolitics and sporting events, it is predicted that the total amount of open contracts in the market industry will exceed $1 billion for the first time] Comparative news. The data shows that Poly...

158d agoWendy#Compare Daily Picks

T.Rowe Price submits a second amendment to its actively managed cryptocurrency ETF

In comparison, according to Coindesk, T. Rowe Price submitted a second amendment to its actively managed cryptocurrency ETF, which will track various assets including Bitcoin, Ethereum, Ripple, Litecoin, and SHIB.

159d ago

On-chain detective ZachXBT: Monero (XMR)'s abnormal rise is linked to $282 million hacker transfers of funds

Comparative news, according to on-chain detective ZachXBT, at around 23:00 (UTC) on January 10, 2026, a victim lost more than US$282 million worth of Litecoin (LTC) and Bitcoin (BTC) due to a social engineering attack on a hardware wallet. The stolen assets include approximately 2.05 million LTC and 1,459 BTC. The relevant address has been disclosed. The attackers then converted the stolen money into Monero (XMR) through several instant exchange platforms, causing the XMR price to rise significantly in a short period of time. Some BTC has also been transferred to the Ethereum, Ripple, and Litecoin chains through the cross-chain protocol ThorChain. Currently, the case is still under investigation, and the flow of related stolen money continues to be monitored.

218d agoWendy

CoinShares: Global digital asset inflows reach $47.2 billion in 2025

Comparatively, CoinShares released the 2025 Digital Asset Capital Flow Report, stating that global digital asset inflows reached US$47.2 billion in 2025, which is slightly lower than the 2024 record. The US continues to dominate capital flows, while Germany and Canada saw a clear reversal, shifting from capital outflows in 2024 to strong capital inflows. Bitcoin's capital inflows have declined sharply, while capital inflows from Ethereum, Ripple, and Solana have increased dramatically, indicating that capital is shifting to some altcoins, while capital inflows for the rest of the altcoins have declined 30% year over year. The beginning of 2026 also had a strong start, with capital inflows of US$671 million last Friday, plus capital outflows from the previous week, and the cumulative capital inflow for the week reached US$582 million.

229d ago

Ethereum: A standalone monetary asset or Bitcoin's shadow?

Author: AJC Compiled by: Luffy, Foresight News Original title: Ethereum's Identity Dilemma: Is it Cryptocurrency or Bitcoin's Shadow? Of all the major cryptocurrency assets, Ethereum has sparked the most intense controversy. Bitcoin's status as a mainstream cryptocurrency has been widely recognized, while Ethereum's position remains undecided. According to some people, Ethereum is the only reliable non-sovereign currency asset other than Bitcoin; others believe that Ethereum is essentially a business. Not only does revenue continue to decline and profit margins are getting tighter, but it also faces fierce competition from many public chains with faster transactions and lower costs. The controversy seems to have peaked in the first half of this year. In March, the fully diluted valuation of Ripple (XRP) briefly overtook Ethereum (it is worth noting that all of Ethereum's tokens are in circulation, while Ripple's circulation accounts for only about 60% of the total supply). On March 16, the fully diluted valuation of Ethereum was $227.65 billion, while the corresponding valuation of Ripple reached $239.23 billion. Hardly anyone could have predicted this outcome a year ago. Then, on April 8, 2025, the exchange rate of Ethereum to Bitcoin (ETH/BTC) fell below 0.02, the lowest since February 2020. In other words, Ethereum has exhausted all of its gains relative to Bitcoin in the last round of the bull market. At the time, market sentiment about Ethereum fell to a freezing point for several years. To make matters worse, falling prices are just the tip of the iceberg. With the rise of rival ecosystems, Ethereum's share of the public chain fee market continues to shrink. In 2024, Solana revived; in 2025, Hyperliquid rose to prominence. The two joined forces to reduce Ethereum's fee market share to 17%, ranking fourth in the public chain — a cliff-style decline compared to the top position a year ago. Although the handling fee is not everything, it is a clear sign of the flow of economic activity. Today, Ethereum is facing the toughest competitive landscape in the history of its development. However, historical experience shows that major reversals in the cryptocurrency market often begin when market sentiment is most pessimistic. When Ethereum was declared a “failed asset” by the outside world, most of its apparent decline was actually already digested by market prices. In May 2025, signs that the market was overly bearish on Ethereum began to show. During this period, the exchange rate of Ethereum against Bitcoin and its price in US dollars all experienced a strong rebound. The exchange rate of Ethereum against Bitcoin climbed from a low of 0.017 in April to 0.042 in August, an increase of 139%; the US dollar price of Ethereum also soared from $1,646 to $4793 during the same period, an increase of 191%. This rally peaked on August 24, when the price of Ethereum hit a record high of $4,946. After experiencing this revaluation, the overall trend of Ethereum has clearly returned to an upward channel. The change in the leadership of the Ethereum Foundation and the emergence of a group of treasury companies focused on Ethereum have injected confidence into the market. Prior to this round of growth, the differences in the situation between Ethereum and Bitcoin were clearly reflected in the two exchange-traded fund (ETF) markets. In July 2024, an Ethereum spot ETF was listed, but capital inflows were very sluggish. In the first six months after listing, its net inflow was only $2.41 billion, in stark contrast to the Bitcoin ETF's record-breaking performance. However, with Ethereum's strong recovery, market concerns about the inflow of ETF funds have evaporated. Looking at the full year, the net inflow of Ethereum spot ETFs reached $9.72 billion, while Bitcoin ETFs were $21.78 billion. Considering that Bitcoin's market capitalization is close to five times that of Ethereum, the difference in capital inflow between the two ETFs is only 2.2 times, which is far below market expectations. In other words, when adjusted for market capitalization, the market demand for Ethereum ETFs actually exceeds that of Bitcoin. This result completely reversed the “institutional lack of real interest in Ethereum” argument. Not only that, during a specific period of time, the inflow of funds from Ethereum ETFs even directly crushed Bitcoin. Between May 26 and August 25, the net inflow of Ethereum ETFs was $10.2 billion, surpassing the $9.79 billion Bitcoin ETF over the same period. This is also the first time that institutional demand is clearly directed towards...

247d agoburnking

The New York Times at the bottom: infighting, rivalry, transfer of interests... What other unknown details are behind Trump's “amnesty” encryption?

Source: The New York Times Original title: The S.E.C. Was Tough on Crypto. It Remains Back After Trump Deems to Office. By Ben Protess, Andrea Fuller, Sharon LaFranieRe, Seamus Hughes, Elena Shao Compiled and organized: BitPushNews “The New York Times” first conducted a systematic analysis of thousands of government documents and court records from the last three US administrations, and interviewed more than 20 current and former administrations Officials. A cryptocurrency company run by twin billionaire Winklevoss brothers was facing tough federal court charges at the time. Following Trump's return to the White House, the US Securities and Exchange Commission (SEC) took action to freeze the case. The SEC also previously sued Binance (Binance), the world's largest cryptocurrency exchange, but after a new administration took office, the SEC completely dropped the lawsuit against the company. Additionally, after a years-long legal battle with Ripple Labs, the new SEC is trying to reduce the amount of fines handed down by the court to mitigate the penalties imposed on the crypto company. A New York Times investigation found that the SEC's relinquishment of these cases reflected an overall shift in the federal government's attitude towards the cryptocurrency industry during President Trump's second term. The SEC's mass retreat of lawsuits against a single industry is unheard of. However, the New York Times found that when Trump returned to the White House, the SEC slowed down more than 60% of ongoing cryptocurrency cases, including suspending lawsuits, mitigating penalties, or outright dropping cases. The investigation indicated that the circumstances in which these cases were withdrawn were particularly unusual. Under Trump, the SEC's withdrawal rate against cryptocurrency companies was far higher than other types of cases. Although the specific circumstances of these crypto lawsuits vary, the companies involved often have one thing in common: they all have financial ties to Trump, the self-proclaimed “cryptocurrency president.” As the highest federal agency that oversees financial markets in the US, the US Securities and Exchange Commission (SEC) is no longer actively pursuing any company publicly linked to Trump. The “New York Times” investigation found that the agency has taken a concessionary attitude towards all companies linked to the Trump family's crypto business or that have provided financial support for their political undertakings. Currently, the SEC's only remaining crypto cases are all unknown defendants with no obvious connection to Trump. Case handling statistics (data as of December 15, 2025): Direct cancellation cases: 7 cases └ 5 of these cases involved defendants publicly linked to Trump taking mitigation measures: 7 cases └ including suspending asset freezes, making favorable settlements or substantial concessions └ 3 of these cases involved defendants publicly linked to Trump maintaining their original litigation positions: 9 cases └ None have been found to be publicly linked to Trump so far. The SEC said in a statement that political bias “has nothing to do” with the way they handle cryptocurrency enforcement, adding that the agency's shift was due to law and policy Reasons include concerns about its authority to regulate the industry. The SEC notes that long before Trump embraced the crypto industry, the agency's current Republican commissioner fundamentally disagreed with filing most crypto cases and emphasized that they “take securities fraud and investor protection seriously.” There is currently no indication that the president has pressured the agency to show mercy to specific crypto companies. We also found no evidence that these companies tried to influence cases against them through donations or commercial ties with Trump, some of which were only established after the SEC policy shift. However, Trump is both a player in the crypto industry and the industry's top decision maker, and he will profit from companies regulated by his own government. The fact that many of the companies that have been sued by the SEC are linked to him shows the conflict of interest brought about by the president promoting policies that are in his own interest. At the beginning of his second term, the White House announced that the president would “stop aggressive enforcement actions and excessive regulation that are stifling cryptocurrency innovation.” Although the SEC's abandonment of some cryptocurrency cases has previously attracted public attention, the New York Times analysis of thousands of court records and dozens of interviews revealed the unprecedented scale of this year's regulatory setbacks and the huge benefits it has brought to Trump's industry allies. All of the defendants named in the New York Times investigation denied wrongdoing, and many companies insisted they only...

250d agoWendy#Gemini #Ripple Labs #SEC #Binance #Bitcoin #Trump #proceedings