The law firm told a Florida judge that it merely provided routine legal services and had no knowledge of wrongdoing. Meanwhile, regulators are making moves to strengthen oversight in the wake of FTX’s downfall. The Commodity Futures Trading Commission is upgrading its outdated infrastructure by adopting Nasdaq’s real-time market surveillance software to detect insider trading and manipulation in both equities and crypto. However, the push for stricter monitoring sparked growing concern in the decentralized finance space. Fenwick Calls FTX Lawsuit Allegations False Fenwick & West pushed back against new allegations tying it to the collapse of FTX, and told a Florida federal judge that the claims are both outdated and unfounded. The law firm is fighting an attempt by FTX users to update a class-action lawsuit that was filed in 2023, which alleges that Fenwick played a “key and crucial role” in enabling the exchange’s massive fraud. In its response, Fenwick argued that the accusations mischaracterized its work as the firm only provided routine legal services and had no knowledge of wrongdoing. Fenwick’s filing The plaintiffs pointed to evidence from FTX’s bankruptcy proceedings and the criminal trial of co-founder Sam Bankman-Fried, and claimed it showed Fenwick was aware of the misuse of customer funds. However, Fenwick said this was a “false characterization,” and pointed out that testimony from FTX engineer Nishad Singh merely described the firm advising on the structuring of founder loans, which is a common corporate practice. The firm added that numerous witnesses testified the fraud was carried out without the knowledge of FTX’s in-house counsel, other executives, accountants, or outside professionals. Fenwick also pushed back against new securities-related claims in the updated complaint, which accuse the firm of helping launch and promote FTX’s exchange token, FTT, in violation of state securities laws. The firm called these claims frivolous and untimely, and argued that they should have been raised at the beginning of the case and were instead added as an “eleventh-hour attempt” after most claims against celebrity promoters of FTX were dismissed. Fenwick said the lawsuit relies on “stale information” and is very similar to earlier allegations against Sullivan & Cromwell, another law firm that was eventually dropped from the case for lack of evidence. According to Fenwick, the same should apply here, as the plaintiffs failed to show the firm knowingly aided the fraud. CFTC Turns to Nasdaq for Surveillance Although the ripple-effects of the FTX collapse is still being felt, regulators are hard at work to make sure something similar does not happen again. The Commodity Futures Trading Commission (CFTC) is taking a major step to modernize its outdated surveillance infrastructure by adopting a financial monitoring tool developed by Nasdaq. Announcement from the CFTC The regulator has long relied on systems dating back to the 1990s, but is now turning to technology that is more widely used in stock exchanges to identify and prevent abusive market behavior. Nasdaq’s software is designed to detect insider trading and market manipulation across equities and crypto markets, with tailored algorithms that identify suspicious activity unique to digital asset trading. Tony Sio, head of regulatory strategy and innovation at Nasdaq, explained that the platform provides real-time analysis of order book data across crypto venues while also offering cross-market analytics to track links between traditional and digital asset markets. He added that the data for the system will be sourced by the CFTC through its regulatory powers. The decision to do this was made as financial surveillance is still one of the most divisive issues in the digital asset space. Supporters argue that improved oversight is essential to curb money laundering and manipulation, which would help pave the way for institutional adoption of cryptocurrencies. However, privacy advocates warn that monitoring risks could create a digital “prison” where user activity is constantly tracked and regulated, which undermines the open and pseudonymous nature of blockchain technology. This tension is also playing out in the decentralized finance (DeFi) sector, where new regulatory proposals are causing growing concern. The US Treasury Department is reportedly considering embedding digital identity verification tools directly into DeFi smart contracts to fight illicit financial flows. Recommendations in the White House report This initiative stems from recommendations in a July White House report on cryptocurrencies, which placed a lot of emphasis in combating illicit finance alongside proposals for taxation and digital asset market structures. The report urged the Treasury and the National Institute of Standards and Technology (NIST) to design stronger know-your-customer requirements for crypto while also revising federal digital identity guidelines and overhauling credential tools. Critics of these ideas argue that forcing digital identity checks into DeFi protocols will betray the very foundation of decentralized systems. They believe that turning neutral, permissionless infrastructure into one restricted by government-approved credentials would fundamentally change its purpose.
Tom Lee predicts that ethereum could reach $5,500 in the coming weeks, with a year-end target of $10,000 to $12,000. Recent Market Volatility and Investor Confidence According to a prominent ethereum ( ETH) bull and chairman of Bitmine Immersion Technologies, Tom Lee, the second-largest digital asset is poised to reach $5,500 in the next couple
A prominent Finance Coach known on X as Coach JV has projected that XRP could eventually outpace Bitcoin and Ethereum to become the most dominant cryptocurrency worldwide. His outlook ties XRP’s future growth to Ripple’s increasing involvement in mainstream finance and its resilience following regulatory challenges. In 2020, Ripple faced one of its biggest obstacles when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit alleging that the company sold XRP as an unregistered security. The legal dispute led to several exchanges suspending or removing XRP from their platforms, causing investor confidence to falter. The case has since shifted in Ripple’s favour, restoring credibility to the token and strengthening its position in the market. Ripple executives, including CEO Brad Garlinghouse and Chief Technology Officer David Schwartz, have recently highlighted new consumer initiatives connected to XRP. One of the most notable developments is the launch of the Gemini XRP Credit Card, which enables users to earn up to 4% in XRP cashback when making everyday purchases such as dining, fuel, and groceries. Gemini co-founder Tyler Winklevoss further signaled his support by granting Garlinghouse access to the card’s “whale limit.” Coach JV’s Outlook Building on these developments, Coach JV believes Ripple will evolve into a major banking entity, reshaping global finance in the process. He opined that XRP’s growing integration into payment solutions and consumer financial products could eventually push it to the forefront of the crypto industry. According to him, by 2030, XRP may not only rival Bitcoin but surpass it. “I believe XRP will be number one, and Bitcoin will be number two,” he stated, adding that his personal investments in the token have already provided him with financial security. XRP will change the world! #crypto #xrp pic.twitter.com/jtD5DLfDCQ — Coach, JV (@Coachjv_) August 26, 2025 Market Reality and the Challenge Ahead Despite the optimism, data indicate that XRP faces an uphill battle in surpassing Bitcoin. At present, XRP’s market capitalization is approximately $178.83 billion , while Bitcoin’s valuation is around $2.2 trillion , a few more than twelve times larger. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 For XRP to close this gap, its price would need to rise from its current level of roughly $3 to about $38, assuming Bitcoin’s market cap remains unchanged. However, such an outcome would require more than a 1,160% increase, an unlikely scenario given Bitcoin’s continued expansion. Leading industry figures, including Coinbase CEO Brian Armstrong and Cardano founder Charles Hoskinson, have suggested that Bitcoin could reach $1 million by 2030 . If realized, this would place Bitcoin’s market capitalization above $20 trillion. Price projections for XRP are considerably lower. Forecasts from Telegaon suggest the token could reach a maximum of $48 by 2030, while Changelly estimates a potential peak near $23. Even in highly optimistic scenarios where XRP climbs to $100 , its market value would remain far below Bitcoin’s projected dominance. Coach JV’s prediction underscores the confidence some analysts have in Ripple’s long-term potential. While XRP has made significant strides following Ripple’s legal victory and the introduction of new financial products, the gap between its market capitalization and Bitcoin’s remains substantial. Unless XRP achieves unprecedented growth, the likelihood of it overtaking Bitcoin and Ethereum by 2030 appears limited. Follow us on X , Facebook , Telegram , and Google News The post Finance Coach Sets Timeline for XRP to Beat Bitcoin and Ethereum appeared first on Times Tabloid .
BitcoinWorld DOGE Upside: Unlocking Massive Gains Beyond the $0.225 Resistance Dogecoin (DOGE) has long captivated the crypto community with its vibrant energy and passionate following. However, for those eyeing significant gains, understanding its current market dynamics is crucial. Right now, the immediate DOGE upside appears to be navigating a challenging technical landscape, presenting both hurdles and exciting possibilities for investors. What’s Limiting the Immediate DOGE Upside? According to an insightful analysis by CoinDesk, Dogecoin’s short-term growth is primarily constrained by a formidable resistance zone. This critical barrier sits squarely between $0.224 and $0.225. Repeated attempts to breach this level have, so far, proven unsuccessful, creating a ceiling for its price action. Think of this resistance as a sturdy wall that DOGE needs to climb over. Until it clears this obstacle, the path for a sustained upward movement remains blocked. Therefore, for any significant DOGE upside to materialize, this resistance must be decisively overcome. The Crucial $0.225 Mark: A Gateway to Further Gains What happens if Dogecoin successfully breaks through the $0.225 barrier? This is where the outlook brightens considerably. CoinDesk’s analysis suggests that a clear breakthrough could propel DOGE towards a new target, potentially reaching as high as $0.24. This move would signify a strong bullish signal, indicating renewed investor confidence and momentum. Breaking resistance levels often triggers a wave of buying activity, as traders and investors see it as a confirmation of strength. This could pave the way for a more substantial DOGE upside in the near future, rewarding those who monitor these key levels closely. Identifying Key Support for Sustained DOGE Performance While resistance levels are important, understanding where Dogecoin finds its footing is equally vital. Analysts have identified a clear support zone for DOGE between $0.219 and $0.22. This area acts as a safety net, where buying interest tends to increase, preventing the price from falling further during pullbacks. A robust support level provides a foundation for any potential upward trajectory. It assures investors that there’s a base from which the price can rebound. Maintaining this support is essential for sustaining market confidence and building towards future DOGE upside . Navigating the Volatile Meme Coin Market Investing in meme coins like Dogecoin comes with inherent volatility. Their prices are often influenced by social media trends, celebrity endorsements, and broader market sentiment, sometimes more than traditional financial metrics. Therefore, understanding technical indicators in conjunction with market buzz is key. For Dogecoin enthusiasts, closely monitoring the $0.224-$0.225 resistance and the $0.219-$0.22 support is paramount. These levels offer clear indicators of potential price movements and can help inform strategic decisions. Actionable Insights for Dogecoin Enthusiasts: Monitor Closely: Keep a keen eye on the $0.224-$0.225 resistance. A sustained break above this could signal a significant shift. Understand Support: Recognize the importance of the $0.219-$0.22 support. A drop below this might indicate further downside pressure. Risk Management: Always consider your risk tolerance. Volatility is a constant in the crypto market. Stay Informed: Follow reliable crypto news sources and technical analyses to stay updated on Dogecoin’s performance. In conclusion, the path to substantial DOGE upside currently hinges on its ability to conquer the critical $0.224-$0.225 resistance. While this level presents a challenge, a successful breach could unlock significant gains towards $0.24. With a clear support zone identified, Dogecoin’s journey is one to watch closely. Smart investors will keep these key technical levels in focus as they navigate the exciting, yet unpredictable, world of crypto. Frequently Asked Questions (FAQs) Q1: What is the critical resistance level for DOGE mentioned in the analysis? A1: The critical resistance zone for DOGE is identified between $0.224 and $0.225. Q2: What could happen if DOGE breaks above $0.225? A2: If Dogecoin successfully breaks above $0.225, it could potentially rise to as high as $0.24, signaling a strong bullish momentum. Q3: Where is the key support zone for Dogecoin? A3: A clear support zone for Dogecoin has been identified between $0.219 and $0.22. Q4: Why is the $0.225 level so important for DOGE upside? A4: The $0.225 level is crucial because a sustained break above it indicates a shift in market sentiment and opens the door for significant price appreciation, leading to further DOGE upside. Q5: Are meme coins like DOGE generally volatile? A5: Yes, meme coins like Dogecoin are known for their inherent volatility, often influenced by social media trends and broader market sentiment rather than just traditional fundamentals. Did you find this analysis helpful? Share your thoughts and this article with your fellow crypto enthusiasts on social media! Let’s spread the word about Dogecoin’s crucial price levels. To learn more about the latest crypto market trends, explore our article on key developments shaping Dogecoin price action. This post DOGE Upside: Unlocking Massive Gains Beyond the $0.225 Resistance first appeared on BitcoinWorld and is written by Editorial Team
Bullish Pennant Pattern Could Propel XRP to $5 Cryptocurrency enthusiasts are turning their attention to XRP after renowned market analyst Maxi predicted that a bullish pennant pattern could drive the token to the $5 mark. A bullish pennant forms after a sharp price rally, followed by a brief consolidation in a tight symmetrical triangle, often signaling a continuation of the upward trend. XRP’s recent surge, according to Maxi, sets the stage for this classic breakout pattern. The analyst highlighted that XRP’s trading volume and recent price action fit the classic characteristics of a bullish pennant. The initial surge, known as the flagpole, has been accompanied by high buying pressure, while the consolidation phase shows diminishing selling pressure, both indicators of potential upward momentum. The broader market environment further supports this optimistic outlook. For instance, XRP is witnessing low speculative bias and price stability with funding rates having dropped to nearly zero. Furthermore, XRP needs to flip the $3.10 zone for a sustained bullish outlook. At the time of this writing, XRP was trading at $3, according to CoinGecko data . How the XRP Ledger Stands to Benefit from the U.S. Commerce Blockchain Initiative In a significant move towards blockchain integration, U.S. Commerce Secretary Howard Lutnick announced that the Department of Commerce will begin publishing official economic statistics, including Gross Domestic Product (GDP) data, on the blockchain. This initiative, unveiled during a White House cabinet meeting, aims to enhance transparency and accessibility in federal data distribution. The XRPL, known for its high throughput, low transaction costs, and energy-efficient consensus mechanism, is uniquely positioned to support such governmental data initiatives. Unlike energy-intensive proof-of-work blockchains, XRPL's consensus mechanism aligns with institutional demands for sustainability and cost efficiency. By leveraging XRPL's capabilities, the U.S. government can ensure that economic data is disseminated in a secure, tamper-proof, and easily accessible manner. This move not only underscores the government's commitment to embracing blockchain technology but also sets a precedent for other nations to follow suit. As the initiative advances, XRPL is poised to play a larger role in governmental data distribution, potentially setting new global benchmarks for blockchain-powered transparency. Conclusion The U.S. Department of Commerce’s move to publish official statistics on the blockchain is a transformative step toward transparency, efficiency, and trust in public data. By leveraging the XRP Ledger’s scalable, secure, and energy-efficient infrastructure, this initiative might underscore the XRPL’s viability for large-scale government use and positions it as a leader in the next wave of institutional blockchain adoption. On the other hand, XRP is at a critical juncture, with a bullish pennant signaling a potential breakout. A successful move above consolidation could propel the token toward Maxi’s $5 target, driven by strong buying momentum and rising institutional interest.
BitcoinWorld Bybit EU Adopts Nasdaq’s Market Surveillance Platform to Reinforce Compliance with MiCAR Institutional-grade technology will enhance the integrity of the world’s second-largest cryptocurrency exchange Surveillance platform combines advanced pattern analytics with comprehensive market data to meet MiCAR obligations DUBAI, UAE, Aug. 28, 2025 /PRNewswire/ — Bybit, the second-largest cryptocurrency exchange by trading volume in the world, today announced it has adopted Nasdaq’s Market Surveillance platform to reinforce the company’s ability to prevent and detect market abuse across its European markets. Operating under the company’s Bybit EU entity, the technology helps ensure ongoing compliance with the EU’s Markets in Crypto-Assets Regulation (MiCAR), which compels digital asset exchanges to implement rigorous surveillance and reporting requirements. The modular and flexible architecture of Nasdaq’s surveillance platform will support Bybit EU’s ongoing expansion, enabling rapid compliance with local regulatory obligations. “This agreement demonstrates our commitment to providing secure, transparent, and fully compliant digital asset trading as we continue to grow our business,” said Mazurka Zeng, Managing Director and CEO of Bybit EU . “We welcome the opportunity to partner with Nasdaq, whose innovative technology and unparalleled surveillance expertise, help safeguard the resilience and integrity of our marketplace.” “MiCAR is driving a step change in investor protection across digital asset markets, but many compliance programs are still failing to match the level of investor protection offered by traditional markets,” added Ed Probst, Head of Regulatory Technology at Nasdaq. “We welcome the opportunity to partner with Bybit EU, who recognize the benefits of incorporating comprehensive market data into its surveillance framework to protect against critical threat scenarios. We look forward to building on this relationship and remain committed to advancing trust and resilience across the digital asset ecosystem.” Building trust in digital markets Nasdaq Market Surveillance is the most widely used market surveillance technology globally, serving over 50 exchanges and 20 international regulators, helping to maintain the integrity of marketplaces around the world. The platform incorporates tailored features and alerts for crypto markets alongside sophisticated algorithms developed over 30 years of experience. It also benefits from Nasdaq’s ongoing investment in both R&D and the underlying technology infrastructure to define industry best practice and maintain compliance with evolving global regulations. The platform offers access to comprehensive order book data to support real-time decision-making, which is emerging as a critical frontier to prevent and detect market abuse in crypto markets. While certain behavioral indicators can signal potential manipulation, prevention requires exchanges to combine pattern-recognition algorithms with comprehensive market data, overlaid with alerts tailored to specific mechanics of each market. It helps significantly reduce false positives and detect cross-market manipulation, timing-based violations, layering & spoofing, liquidity exploitation and currency & commodity manipulation. Additional functionality includes: Real-time, 24/7 monitoring of over 60 billion crypto transactions per day Integrated control framework with data quality reporting, audit, and case management Ability to monitor currency pairs trading and fractional volumes trading Availability of all historical market data including full-depth order book visual replay and reconstruction SaaS-deployed to enable regular product upgrades and enhancements Around the world, Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,800+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com . About Bybit EU Bybit EU GmbH is the newly established European entity, dedicated to serving clients across the European Economic Area (EEA”*” except Malta) via the Bybit.eu platform. Operated by Bybit EU GmbH, a licensed Crypto-Asset Service Provider (CASP) under the Markets in Crypto-Assets Regulation (MiCAR), Bybit EU delivers fully regulated services, including crypto custody, exchange, and rewards products and more, in full compliance with European regulations for investor protection and market integrity. Bybit EU GmbH is a licensed Crypto-Asset-Service Provider under the Markets in Crypto Assets Regulation (MiCAR), authorized to offer the following services to residents of the European Economic Area (except Malta): providing custody and administration of crypto-assets on behalf of clients; exchange of crypto-assets for funds; exchange of crypto-assets for other crypto-assets; placing of crypto-assets; and providing transfer services for crypto-assets on behalf of clients. Bybit EU GmbH is neither the operator of a trading platform for crypto-assets nor provides investment advice. www.bybit.eu Cautionary Note Regarding Forward-Looking Statements: Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will,” “enable” and “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s Market Surveillance technology solution. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov . Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. This post Bybit EU Adopts Nasdaq’s Market Surveillance Platform to Reinforce Compliance with MiCAR first appeared on BitcoinWorld and is written by chainwire
VanEck CEO Jan van Eck says banks must adopt a blockchain to handle stablecoin transfers within 12 months, and he expects Ethereum or Ethereum-style platforms to become the dominant stablecoin