In a recent update, Ki Young Ju, the CEO of CryptoQuant, highlighted the current dynamics of the Bitcoin market, noting the significant activity in spot trading volumes hovering around $100,000.
Recent developments indicate that Binance’s community survey shows overwhelming support for Pi Coin (PI), paving the way for potential listing on the exchange. This survey garnered significant interaction, with nearly
Will Trump's administration reshape crypto regulations and ease restrictions on decentralized finance?
The post Crypto Market Crash Today : 28th FEB – XRP News Why is Bitcoin Dropping? , Pi Network Price appeared first on Coinpedia Fintech News February 28, 2025 05:46:55 UTC Bitcoin News Today : BTC Price Crash Below $80K Bitcoin’s spot volume surged around the $100K mark, but during distribution phases, prices tend to drop when new liquidity dries up. The key question now is where fresh liquidity will come from to sustain a bullish trend. With limited new liquidity entering the market, an extended consolidation within a wide range ($75K-$100K) seems likely, similar to early 2024. This range-bound movement could persist until favorable news for Bitcoin triggers new liquidity inflows. February 28, 2025 05:46:55 UTC What Happened To Crypto Today? Bitcoin (BTC) fell below its 200-day simple moving average (SMA) on Friday, marking a 16% weekly loss and briefly dipping below $80,000 for the first time since November 10. The decline was fueled by renewed concerns over U.S. tariffs, which boosted demand for the U.S. dollar. Altcoin like XRP, Solana (SOL), and DOGE saw even steeper losses, with XRP dropping below the 23.6% Fibonacci retracement level. President Trump’s announcement of tariffs on Canada, Mexico, and China further fueled the rise in the dollar, pushing the dollar index to 107.30.
The post XRP Price Prediction For February 28 appeared first on Coinpedia Fintech News The ongoing trade and tariff wars, particularly with China, are causing bearish sentiment in the market. Both the stock market and crypto assets like Bitcoin are showing significant declines. This week, Bitcoin ETFs saw massive outflows. On Monday, over $500 million left, followed by a staggering $11 billion outflow on Tuesday, the largest in history. Wednesday saw another record with $754 million leaving the Bitcoin ETFs, particularly affecting the BlackRock Bitcoin ETF. In response to the outflows, BlackRock had to sell a record amount of Bitcoin on Wednesday to fulfill the withdrawal requests, marking the largest single-day Bitcoin sale for the ETF provider. As for Bitcoin price, the largest cryptocurrency has dipped below $80,000 and most altcoins have followed suit. XRP is down by more than 9% and is dangerously close to dropping below the $2 mark. Over the last 24 hours, XRP has confirmed a daily candle close below a crucial support zone between $2.25 and $2.30. According to analyst Josh of Crypto World, this area has previously shown multiple bounces, making it a key level for traders. With this break, the next significant support lies between $1.95 and $2. Next Major Support at $2 If the price drops below the $2 level, specifically under $1.95 or $1.90, it could signal more major losses for XRP. This would likely lead to much lower price levels in the near future. Current Bearish Trend XRP is currently in a bearish trend, marked by breaking below support levels, rejecting resistance, and forming lower highs and lows. This bearish price action suggests further downward movement in the short term. Bitcoin and Stock Market Impact As often seen with major altcoins, XRP’s price action tends to mirror Bitcoin and the broader stock market. With Bitcoin and stocks showing weakness, many altcoins, including XRP, are also experiencing downward pressure.
Today, $5.79 billion in Bitcoin and Ethereum options expire, influencing short-term market trends with a focus on put-to-call ratios. Bitcoin options have a notional value of $4.68 billion with a
On Thursday, Federal Judge William Alsup told the Office of Personnel Management (OPM) to cancel its earlier orders from Elon Musk’s Department of Government Efficiency (DOGE) that told agencies to “promptly determine” whether certain employees should stay or be fired. The judge didn’t just stop the terminations—he called the entire process illegal and said it should have never happened in the first place. The OPM had sent out a January 20 memo and a February 14 internal email, both pushing agencies to decide the fate of probationary employees. Alsup wasn’t having it. He ordered OPM to notify the Department of Defense that those terminations were invalid—and he wants this done before the planned firings happen. He also ordered a hearing, where acting OPM Director Charles Ezell will have to testify. No date has been set yet. Judge: OPM had no right to order mass firings Alsup made it clear that OPM had no legal authority to force these agencies to fire employees. “The Office of Personnel Management does not have any authority whatsoever under any statute in the history of the universe to hire and fire employees within another agency,” he said. “It can hire its own employees, yes. Can fire them. But it cannot order or direct some other agency to do so.” He also called probationary workers “the lifeblood of our government”—people who enter at lower levels and move up over time. The government, he said, depends on them to keep things running. The lawsuit against DOGE came from unions, including the American Federation of Labor, arguing that Musk’s agency was violating the Privacy Act and the Administrative Procedure Act by trying to access Labor Department data. Judge John Bates of Washington, D.C., ordered at least one DOGE official to testify and hand over documents, marking the first time someone inside D.O.G.E has been legally forced to answer questions under oath from an outside attorney. Bates called D.O.G.E “opaque”, meaning the agency operates with little transparency. The ruling could reveal how DOGE really functions inside the federal system and what data it has access to. DOGE under fire for secrecy and overreach Bates also approved four depositions with staffers at the Department of Health and Human Services, the Consumer Financial Protection Bureau, the Labor Department, and D.O.G.E. The unions pushing the case want proof that D.O.G.E is illegally accessing federal records. The judge ruled that these depositions should be limited to eight hours total, but it’s unclear if the public will ever see them. The unions that filed the lawsuit are seeking to block DOGE from accessing Labor Department data, arguing that access to such sensitive information systems would violate the Privacy Act and the Administrative Procedure Act. Another case against DOGE, filed by the Center for Biological Diversity, argues that the agency is dodging federal transparency laws. This group, which focuses on protecting the environment, says the Office of Management and Budget (OMB) has refused to release information on D.O.G.E’s actions, despite Freedom of Information Act (FOIA) rules requiring federal agencies to disclose records upon request. D.O.G.E has faced over 20 lawsuits , but this is the first one focused entirely on transparency laws. The Center for Biological Diversity suit claims that because DOGE is deliberately moving quickly to cut government funding and staff, and its efforts will have effects on the environment (the Environmental Protection Agency has said D.O.G.E helped it make significant cuts, for instance), it’s urgent to uncover more details about how D.O.G.E operates. The FOIA lawsuit argues that the government should not be allowed to make drastic staffing cuts in secrecy. “FOIA was designed to ensure that monumental and consequential undertakings such as this could not take place without transparency,” the lawsuit says. It also warns that D.O.G.E’s staffing cuts could “harm, undermine, or negate” federal climate protections, land management, and public health regulations. Government argues it was just ‘guidance’ There was a major dispute over whether OPM’s mid-February calls to agencies were actual orders or just “requests”. Alsup wasn’t convinced. He pointed out that when something happens at the same time across multiple agencies, it sounds more like an order than mere “guidance.” “Something aberrational happens, not just in one agency, but all across the government, in many agencies on the same day, the same thing,” Alsup said. “Doesn’t that sound like to you that somebody ordered it to happen, as opposed to, ‘Oh, we just got guidance’?” Assistant U.S. Attorney Kelsey Helland, the government’s lawyer, disagreed. “An order is not usually phrased as a request,” she argued. “Asking is not ordering to do something.” She suggested that impacted employees should take their cases to the Office of Special Counsel or the Merit Systems Protection Board instead of seeking a restraining order. Danielle Leonard, an attorney for the unions, pushed back. “Are they really contending to this court that all of these federal employees are lying, Your Honor?” she asked. “That’s what counsel is saying. I don’t think it’s credible.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
The post SEC Declares Meme Coins Are Not Securities: What It Means for Crypto appeared first on Coinpedia Fintech News SEC’s pro-crypto governance starts taking action on crypto, but this time, it’s for GOOD. The US SEC has made it clear that meme coins , like TRUMP and other popular tokens, are not considered securities or investments that need to follow strict financial rules. Instead, the agency sees them more like collectibles—something people buy for fun rather than as a real financial asset. However, just because meme coins aren’t regulated like stocks doesn’t mean scammers can get away with fraud. The SEC warned that if someone uses meme coins to mislead people or run scams, they could still face legal trouble. The SEC has released guidance that memecoins are not securities and are akin to collectibles. https://t.co/8tRsuHHqbJ — David Sacks (@davidsacks47) February 27, 2025 Meme Coins: Not Securities, Says SEC According to the SEC’s latest statement , meme coins do not meet the legal definition of securities under the Securities Act of 1933. Unlike stocks or investment contracts, Meme coins don’t give holders any rights to future profits, income, or ownership in a company. Because of this, the SEC doesn’t require meme coin creators or traders to register with them, meaning they don’t have to follow the same rules as traditional investments. However, this also means investors won’t get the usual protections from the SEC, exposing them to the risk of fraud, pump-dump schemes, and misleading advertising. Legal experts, including Bain Capital Crypto’s Khurram Dara, highlighted that even though the SEC won’t directly regulate meme coins, other federal or state agencies could take action against deceptive practices to protect investors. A New Bill Emerges Before the SEC’s statement, House Democrats had already been pushing the Modern Emoluments and Malfeasance Enforcement (MEME) Act, aimed at restricting public officials from launching or endorsing meme coins. The bill, spearheaded by California Representative Sam Liccardo, came in response to Donald Trump’s controversial “ TRUMP” meme coin , which saw a dramatic rise and fall in value. Lawmakers fear that such tokens could be exploited for personal or political gain, raising ethical concerns. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Crypto News: Consensys Wins Big as SEC Drops Case Over MetaMask Wallet , Crypto Community Reacts The SEC’s stance has sparked mixed reactions in the crypto space. Some industry players see it as a positive move, arguing that regulatory clarity will encourage more investment in meme coins, particularly on US-based blockchains like Solana . Crypto lawyer Ishmael Green noted that with meme coins officially outside securities laws, exchanges like Coinbase and Robinhood may feel more confident listing them, which could lead to a surge in market activity. Following the announcement, shares of major crypto exchanges saw a slight uptick, reflecting optimism within the industry. Meanwhile, in a surprising turn, the SEC is dropping its lawsuits against Coinbase, Consensys, and Gemini, signaling a positive change for crypto assets. With the MEME Act on the horizon and the SEC shifting gears, the regulations scene for crypto—especially meme coins—is changing fast. 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MetaMask is set to launch a key update that will bring smart contract capabilities and provide native support for Bitcoin and Solana networks. The announcement, made on Feb. 28 through Metamask’s official X account, marks a major update for the wallet, which has primarily focused on the Ethereum ( ETH ) ecosystem. The update will include a redesigned user interface, the ability to manage several seed phrases in a single wallet, and abstracted gas fees, which will enable users to pay for transactions using any token rather than ETH. We're overhauling the MetaMask UI/UX. 🦊 Not only that, we're bringing in developments that will level up the entire industry. Here's what we've been cooking. 🧵👇 pic.twitter.com/tPlKdWr9Bz — MetaMask.eth 🦊 (@MetaMask) February 28, 2025 In addition, the platform plans to launch smart transactions, a feature designed to prevent unsuccessful transactions and restrict MEV assaults. After Ethereum’s next Pectra upgrade, MetaMask will also introduce smart account features that will enhance the self-custody procedure. This version will make MetaMask a cross-chain wallet that prioritizes security and usability while managing assets from many blockchains. You might also like: MetaMask expands crypto off-ramp support to 10 blockchains via Transak The announcement follows a regulatory victory for Consensys, the parent company of MetaMask. As previously reported by crypto.news on Feb. 27, the U.S. Securities and Exchange Commission has dropped its investigation on the Ethereum development company. Consensys was accused of operating as an unregistered securities broker, as part of a larger crackdown led by former SEC Chair Gary Gensler. However, the agency has softened its position and dismissed cases against Uniswap, Gemini, Coinbase, OpenSea, and Robinhood since interim Chair Mark Uyeda assumed office. Consensys founder and Ethereum co-creator Joseph Lubin called the decision a victory for the cryptocurrency industry. I'm pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case.… — Joseph Lubin (@ethereumJoseph) February 27, 2025 Despite MetaMask’s continued dominance in the self-custody wallet market, competition is intensifying. Phantom, the most popular wallet on Solana ( SOL ), has grown to 15 million users since its launch in 2021. Phantom began as a Solana-only wallet but has since branched out to the Ethereum ecosystem. MetaMask’s recent roadmap indicates an attempt to hold on to its top spot in the rapidly changing cryptocurrency wallet space. Read more: MetaMask announces crypto debit card, partnership with Mastercard and Baanx
Cryptocurrency analysis firm MakroVision has provided an update on Ethereum’s recent price action, revealing key technical levels that could determine its next move. According to MakroVision, Ethereum remains weak after falling below the lower orange support zone. ETH is currently trading near the lower Fibonacci support levels, making a reversal at this stage crucial to avoid further downside pressure. According to the analytics firm, if Ethereum manages to bounce, the key breakout zone is located between $2,810 and $2,880, along with a red trendline. This range serves as a crucial area for a potential trend reversal as it also houses several liquidity zones that could attract price action. Related News: Extreme Fear Dominates Bitcoin Fear and Greed Index - Analysts Assess the Latest However, if Ethereum fails to reclaim these levels, the next major support zone would be between $2,140 and $2,250, leaving little room for further protection against a deeper decline. At the time of writing, ETH is trading at $2,106. *This is not investment advice. Continue Reading: Analysts Reveal Key Levels on Ethereum – Here Are The Price Levels That Must Be Defended