Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: XRP is back in the news, but will it go up again, ever?

Here are the latest crypto news stories in the last 24 hours.

Market Analysis and Updates 📈

Here are the crypto highlights of the day:

Crypto Price Update

Bitcoin (BTC): $61,299.83, down 0.7% over the last 24 hours.
Ethereum (ETH): $2,389.72, down 3.8% over the last 24 hours.
Solana (SOL): $141.78, down 4.1% vs the previous day.

Trending Coins Update

Sudeng: $0.0120, up 54.2% vs the previous day.
Acet: $0.0218, up 20.7% over the last 24 hours.
Eigenlayer: $3.46, down 11.7% vs the previous day.

For the daily price update, check out our post on Facebook.

Feature News: Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle

Bitwise has filed for an XRP exchange-traded fund (ETF) in Delaware, aiming to give investors direct exposure to the cryptocurrency XRP.

Why does this news matter: If approved, this would mark one of the first XRP ETFs in the U.S., following a wave of Bitcoin and Ethereum ETF approvals by the U.S. SEC earlier this year.

XRP, however, has been entangled in legal battles with the SEC, raising questions about the likelihood of approval.
XRP, created by Ripple, has faced legal scrutiny from the SEC, which sued Ripple in 2020 over unregistered securities sales. While Ripple won a partial court victory, the legal battle may impact the approval of an XRP ETF.

The numbers: XRP remains as a top 10 cryptocurrency, although it slid in price by 11% vs the previous day and 9% vs the previous week.

What’s next: Approval is not guaranteed, especially given the SEC’s history with XRP and its ongoing legal challenges.

Still, sentiments suggest that an ETF approval is one of those final news that could move the price of XRP up. If it does happen, expect the XRP army, a large portion of them in the Philippines, to celebrate!

Philippine Crypto News 🇵🇭

Photo for the Article - Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

BitPinas Interview: Unbox founder on appeal of web3 trading card games to Filipinos.
YGG Guild Advance Program (GAP) season 7 is now live.
Paytaca released the Version 0.20.0 of its app.
PDAX listed Tronix (TRX).

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

An Indiana man pleaded guilty to stealing over $37 million in cryptocurrency from nearly 600 victims through cyber intrusion and money laundering.
Rising stablecoin market cap is providing liquidity that could boost bitcoin prices.
DeFi leaders requested a meeting with Vice President Kamala Harris’ campaign to discuss policies for web3.

Educational Corner 🎓

Following Representative Joey Salceda’s resolution to review regulatory policies of the BSP and SEC on cryptocurrency exchanges, check out reaction of the Filipino crypto community on the potential impact of these hearings.

Regulation Watch 📜

Stay informed about the latest regulatory updates and what they mean for you:

The Australian Federal Police cracked a seed phrase to access $6.4 million in crypto as part of Operation Kraken.
Binance is now fully operational in Argentina after registering as a VASP)with the National Securities Commission.
The Bank of England and FCA launched a Digital Securities Sandbox to explore the use of digital ledger technology in the trading, settlement, and issuance of financial securities.

Community Spotlight 🔦

Meet Disi: He is a prominent figure in the web3 gaming community. He is highly regarded for his expertise in web3 games Axie Infinity and Parallel.

Disi often participates in events and bootcamps to help players improve their skills and strategies

Disi is the esports team captain for Yield Guild Games (YGG).
He also creates content on various web3 games.
Disi also often participates in events and bootcamps to help players improve their skills and strategies. (He was also at the Parallel event we previously covered.)

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

EigenLayer’s EIGEN token was launched.
At this year’s Hong Kong FinTech Week, artificial intelligence will take center stage, reflecting a shift away from web3.
CoinW listed DRIFT for trading as DRIFT/USDT and launched a 2,000 USDT reward program to celebrate.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

Eragon launched its first real-time airdrop in the Eraverse Beta, allowing NFT holders to earn $EGON and other rewards during designated 30-minute airdrop session.
Space Nation launched its 12-week soft launch offering over 13 million OIK tokens through quests, NFT competitions, and a Proof of Contribution program.
Gods Unchained will launch its expansion Tower of Dread on October 10, 2024, introducing 40 new cards.