Binance Facing a New Legal Storm 💣
Welcome to the Daily Tribune of Wednesday, January 15, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Wednesday, January 15, 2025, and as every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you shouldn’t miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Sunny ☀️
24h crypto recap! ⏱
The Supreme Court Decision Against Binance 🌐
The Supreme Court of the United States has refused to support Binance's request to challenge a previous ruling, stating that U.S. securities laws apply to transactions occurring on its servers, even if the platform does not have a physical headquarters in the United States. This decision validates a class action filed in 2020 by Chase Williams, an investor accusing Binance of selling unregistered securities.
Already under pressure following investigations by the U.S. regulator (SEC) and a $4.3 billion settlement with the DOJ for anti-money laundering violations, Binance is now facing a new wave of litigation, both in the United States and internationally. This judicial turning point could redefine the regulation of crypto platforms globally, intensifying scrutiny of exchanges operating remotely.
Semler Scientific Bets on Bitcoin: An Additional $23 Million 💰
Semler Scientific, a company specializing in health technologies, is strengthening its investments in Bitcoin with the acquisition of an additional $23 million, bringing its total to 2,321 BTC. Each unit was purchased for an average price of less than $83,000. This commitment aims to revitalize the company’s finances, previously considered a "zombie company," and demonstrate the effectiveness of this strategy through a Bitcoin yield of 99%.
The company justifies this risky bet by the growing popularity of Bitcoin as a shield against inflation, drawing inspiration from MicroStrategy’s success. However, this approach is drawing criticism due to market volatility, which could severely impact the company’s financial health. Nevertheless, Semler hopes this initiative will enhance its attractiveness to investors and reposition the company in a rapidly evolving sector.
XRP on Track for a Spot ETF with Record Inflows 📊
JPMorgan analysts anticipate that the creation of a spot ETF backed by XRP could attract between $3 and $8 billion by 2025. This forecast relies on the enthusiasm generated by Bitcoin and Ethereum ETFs, which already represent 8% of Bitcoin's market capitalization. Ripple, with the support of major firms like Bitwise and WisdomTree, is actively working to obtain regulatory approval before 2025.
This development is bolstered by a potential shift within the SEC, especially with the announced departure of Gary Gensler, which could ease the approvals of financial products linked to cryptocurrencies. As speculation rises in the market, XRP is positioning itself as a strong alternative to Bitcoin, benefiting from the increasing interest in regulated and easily accessible financial products.
The Crypto Market Prepares for a $3 Billion Release 🚀
This week, the crypto market faces a major event: a historic unlocking of tokens estimated at $3 billion, the largest since November 2023. Ondo Finance, specializing in asset tokenization, will release 1.94 billion ONDO tokens, which is 130% of its circulating supply, on January 18, 2024. With an estimated value of $2.23 billion, this unlocking far exceeds the average daily trading volume, which fluctuates between $250 million and $300 million.
Massive token unlocks, although essential for the gradual distribution of assets, pose challenges concerning volatility. Analysts expect increased fluctuations, which could affect the entire altcoin market. While these overflow events create opportunities for savvy traders, they also represent risks for less experienced investors.
The Crypto of the Day: Stellar (XLM)
Stellar stands out with its innovative consensus protocol, the Stellar Consensus Protocol (SCP), which facilitates fast, low-cost, and interoperable transactions across various blockchains and financial systems. Its native cryptocurrency, Lumens (XLM), is essential for reducing transaction fees and preventing spam on the network.
Initially distributed through a massive airdrop and strategic partnerships, XLM aims to democratize global payments. Holders benefit from high liquidity and possibilities for instant cross-border payments, while enjoying increasing adoption among businesses and financial institutions.
Recent Performance
Current Price: €0.4753
Change (24h): +12.58%
Market Capitalization: €14.45 billion
Rank on CoinMarketCap: 12
Trump’s Inauguration as a Bullish Catalyst for Bitcoin 🎯
According to Pantera Capital, Donald Trump’s inauguration will mark a historic turning point for Bitcoin and should strengthen an already bullish momentum fueled by the recent approval of Bitcoin spot ETFs. Unlike the classic financial paradigm of "buy the rumor, sell the news," Bitcoin, currently trading around $95,000, is benefiting from sustained traction due to massive institutional investments. Trump’s explicit support for blockchain, embodied by strategic appointments like Paul Atkins to the SEC, demonstrates a willingness to propel the crypto industry onto the global stage.
A Changing Macroeconomic Context 📊
While Bitcoin has slowed down after surpassing $100,000, this pullback is more attributable to monetary factors than political uncertainties. The prospect of a tightening monetary policy lasting longer than anticipated by the Federal Reserve and a strong dollar weighs temporarily on risk assets. Nonetheless, Trump’s arrival could reignite a wave of institutional adoption through initiatives such as recognizing Bitcoin as a reserve asset. These measures would enhance Bitcoin's credibility among traditional investors and create a regulatory environment conducive to sustainable growth.
A Structural Turning Point for the Crypto Market 🚀
Pantera Capital believes that the U.S. election represents a structural catalyst for the entire crypto sector. The intersection of increased political support and institutional adoption could infuse new energy into Bitcoin, positioned as a safe-haven asset amid economic uncertainties. According to analysts, this convergence of favorable factors could solidify Bitcoin's position as an essential pillar of modern financial strategies, thus ushering in a prolonged bullish market phase.