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Why is The Crypto Market Going Down Today?
The post Why is The Crypto Market Going Down Today? appeared first on Coinpedia Fintech News The crypto market is in the red today, with the global market cap slipping by 4.32% to $3.25 trillion. Most cryptocurrencies, including Bitcoin, Ethereum, XRP, and Solana, are seeing sharp losses. Bitcoin is trading below $104,000 at the time of writing. There is support near $101,000 to $102,000. Ethereum (ETH) has dropped over 9% in the past 24 hours, falling to around $2,501. XRP has also taken a hit, slipping by more than 5% to trade at $2.11. Popular altcoins like Solana (SOL) and Dogecoin (DOGE) aren’t spared either — SOL is down over 10% while DOGE has fallen by nearly 9%. Even large-cap tokens like BNB and Cardano (ADA) have lost ground, dropping 2.89% and 8.6% respectively. Geopolitical Tensions Shake Markets The biggest reason for today’s crypto sell-off is a sudden escalation in Middle East tensions. Israel reportedly launched an airstrike on Iran’s nuclear facilities on June 13 and this geopolitical shock spooked global investors, sending them rushing toward safer assets like gold, which jumped 5%. Historically, whenever there’s unrest in the Middle East, risky assets like cryptocurrencies tend to fall. Bitcoin alone dropped by nearly 4% intraday, a move similar to what happened during the U.S.-Iran conflict in 2020. Macro and Regulatory Pressure U.S. Treasury Secretary Janet Yellen recently warned that Donald Trump’s proposed tariffs could push U.S. inflation up to 3%. This could lead the Federal Reserve to keep interest rates higher for longer — bad news for risk assets like crypto. Coinbase’s recent launch of CFTC-compliant perpetual futures contracts has pulled short-term liquidity away from spot markets, adding to the downward pressure. The next big event for the markets is the upcoming interest rate decision, due in a few days. Right now, there’s a 99% chance rates will stay the same. The market’s hoping Fed Chair Jerome Powell will sound more confident about future economic stability, hinting at rate cuts later. If not, and if the Fed sticks to its “wait and see” stance, markets might stay weak for now.

2025-06-13 07:28
Why Are Bitcoin and Altcoins Down Today? Here’s Why!
The post Why Are Bitcoin and Altcoins Down Today? Here’s Why! appeared first on Coinpedia Fintech News The global crypto market just dropped by 5.66%, leaving many investors wondering what’s going on. Bitcoin, which was recently aiming for a breakout above $109,000, has dropped back to around $104,000. That’s a 3.6% decline in just 24 hours. And it’s not just Bitcoin—Ethereum, XRP, Solana, and even meme coins like Dogecoin have followed, falling anywhere between 6% to 15%. So, what’s behind this sudden crash? Fed Rate Cut Hopes Crushed The biggest reason seems to be new signals from the U.S. Federal Reserve. After the latest inflation data came out, showing core CPI still above expectations and producer prices rising, the chances of a rate cut in June have nearly vanished. According to Fed CME tools, the market now has a 97.4% chance that the Fed will not lower interest rates this month. That’s made investors nervous, and it’s showing in crypto prices. Bitcoin ETFs See Big Outflows Another major blow came from the spot Bitcoin ETFs. After several days of strong inflows, June 12 saw a sudden reversal, with $202 million flowing out . Leading the charge was Fidelity’s ETF alone saw a $197 million withdrawal, while ARK Invest’s ETF lost over $10 million. Surprisingly, BlackRock stayed flat with zero inflows or outflows. $1.15 Billion in Crypto Liquidations Leverage traders took a big hit. In the last 24 hours, over 247,000 traders were liquidated, with total liquidations hitting $1.15 billion . The largest single liquidation order was a $201 million long on Binance. If Bitcoin drops further to around $95,800, nearly $11.76 billion worth of long positions are at risk. That could trigger another wave of sell-offs. Technical Charts Hint More Pain Meanwhile, technically, indicators hint at more struggle for Bitcoin as charts show rejection near the $106K resistance zone. Meanwhile, the MACD is showing a slight bullish crossover, but the momentum is weakening. If Bitcoin fails to hold $104K , we could see a retest of $102K or even $100K soon. Altcoin Market Suffers Too Altcoins are taking a big hit, closely following Bitcoin’s downward trend. The Altseason Index has dropped to 16, showing that Bitcoin still holds market dominance. Among the biggest losers, Ethereum (ETH) fell by over 9.29% , now trading near $2,508. While XRP, Solana, and Cardano all saw major declines, with no signs of recovery just yet.

2025-06-13 07:21
Ripple News: Trident Digital to Raise $500M for First-of-Its-Kind Corporate XRP Treasury
The post Ripple News: Trident Digital to Raise $500M for First-of-Its-Kind Corporate XRP Treasury appeared first on Coinpedia Fintech News Trident Digital Tech Holdings, a Singapore-based Web3 and tech optimization firm, has announced a plan to raise up to $500 million to build one of the world’s first large-scale corporate XRP Treasuries. The XRP Treasury is set to launch in the second half of 2025, with Chaince Securities LLC named as its strategic advisor. The $500M Game Plan – Staking, DeFi Partnerships & 2025 Launch According to the press release , the initiative will focus on building long-term reserves of XRP, earning yield through staking, and actively working within the Ripple ecosystem. The company also plans to partner with key DeFi projects to strengthen its role in the Web3 space. Funds will be raised through equity sales, strategic deals, and structured financing. It is already in talks with crypto foundations and investors to secure strong partnerships and favorable XRP terms. Trident (TDTH) shares dropped over 30% on Thursday and are now down more than 95% in the past year. XRP has also dipped over 5% today, currently trading at $2.12. Trident CEO Soon Huat Lim views blockchain as a game-changer for global finance, and said that this move shows how public companies can play a meaningful, responsible role in shaping the world of DeFi. “We see digital assets as key enablers in the evolution of the global financial landscape. This initiative reflects our belief in the transformative potential of blockchain technology for capital allocation and cross-border value transfer,” he said. XRP Joins the Big Leagues More companies are building XRP reserves. Chinese AI firm Weebus plans to invest $300 million, VivoPower is setting up a $100 million reserve, and Wellgistics Health is adding $50 million. XRP is quickly joining Bitcoin and Solana as a top choice for corporate treasuries. While Bitcoin has been widely adopted by firms like MicroStrategy, very few public companies have done the same with other tokens.

2025-06-13 06:56
Ripple Lawsuit Fresh Update: Attorney Not Confident About Latest Filing, Here’s Why
The post Ripple Lawsuit Fresh Update: Attorney Not Confident About Latest Filing, Here’s Why appeared first on Coinpedia Fintech News The U.S. Securities and Exchange Commission (SEC) and Ripple have made a joint request to a Manhattan court to dissolve an existing injunction in their ongoing legal case. Along with this, they’ve asked for the $125 million civil penalty currently held in escrow to be released. According to the proposal, $50 million would go to the SEC, while the remaining $75 million would be returned to Ripple. This move is part of both parties’ efforts to settle the long-running case, avoid further court battles, and close pending appeals. In their new court filing, both Ripple and the SEC argued that “exceptional circumstances” now exist that justify changing Judge Torres’s earlier decision. These include a settlement between the two sides, recent shifts in the SEC’s crypto policy, and a mutual desire to avoid dragging the case on any longer. Attorney Expresses Doubt However, this request comes just after Judge Torres denied a similar proposal in May. Legal expert Fred Rispoli shared his doubts about the new filing. He explained that the previous denial showed the judge was clearly frustrated and expected a stronger, more detailed motion this time. According to Rispoli, instead of addressing the SEC’s failures in regulating crypto and offering a sincere apology from Ripple, the new filing only briefly mentioned other case dismissals and a small note about the SEC’s crypto task force. In the newest saga of SEC v. Ripple, I don't like this filing based on how obvious it was from Judge Torres' last ruling that she was pissed. I recommended a long, detailed motion explaining the SEC's failures in crypto regulation (with Commissioner declarations) and some… https://t.co/KTyiqxLnWo — Fred Rispoli (@freddyriz) June 12, 2025 Rispoli admitted that while the parties have cited enough legal reasons for the court to agree, they did the same in the last attempt — which was denied. He called this one of the few missteps by Ripple’s legal team and warned that Judge Torres might once again reject it. Still, Rispoli remains hopeful that the judge might be ready to wrap up the case. Even if the injunction stays in place, Ripple can continue selling XRP to institutions, though not in the same way as before 2018. While some cautious firms might stay away, those open to innovation could still move forward. The crypto world now waits to see how Judge Torres responds to this latest chapter in the long-running Ripple-SEC legal battle.

2025-06-13 06:20
XRP Lawsuit News: Ripple- SEC Cite ‘Exceptional Circumstances’ as Reason to End $125M Court Battle
The post XRP Lawsuit News: Ripple- SEC Cite ‘Exceptional Circumstances’ as Reason to End $125M Court Battle appeared first on Coinpedia Fintech News The long-running court battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could soon come to an end. In a new joint filing, both Ripple and the SEC have asked a Manhattan District Court to lift an existing order against Ripple and release $125 million currently held in an escrow account. Here’s what they’re proposing: Out of the $125 million, $50 million would be paid to the SEC as a penalty, while the remaining amount would be returned to Ripple. This move is part of a bigger effort to settle their nearly five-year legal fight, avoid more court appeals, and close this chapter for good. A Quick Recap of the Case: The case began in December 2020, when the SEC sued Ripple, claiming the company had illegally sold XRP as an unregistered security. Over the years, the case saw several rulings, including a partial win for Ripple in July 2023. The court later ordered Ripple to pay a $125 million fine and placed an injunction on the company to stop it from violating securities laws. #XRPCommunity #SECGov v. #Ripple #XRP The parties have renewed their request for an indicative ruling. pic.twitter.com/8uESP4eWa1 — James K. Filan (@FilanLaw) June 12, 2025 Both sides filed appeals after the judgment, keeping the legal fight alive. However, recent talks between Ripple and the SEC led to a settlement agreement. To move forward with this, they need the court’s approval to dissolve the previous orders and distribute the escrowed money as agreed. Why the Change Now? The SEC and Ripple explained in their filing that “exceptional circumstances” now exist that make it reasonable to adjust the earlier court judgment. They argue that settling the case would save both government and company resources, avoid drawn-out appeals, and bring closure to a case that’s been closely followed by the crypto industry. On the flip side, the SEC has recently been closing several other crypto-related cases as it updates its approach to digital asset regulation. This move in the Ripple case fits into that trend. What’s Next? The court still needs to respond to this joint request. If the judge agrees, Ripple will pay $50 million to the SEC, keep the rest of the money, and both sides will drop their appeals — officially ending one of the highest-profile legal battles in the crypto world.

2025-06-13 05:39
GameStop Upsizes Convertible Senior Notes Offering From $1.75B to $2.25B
The post GameStop Upsizes Convertible Senior Notes Offering From $1.75B to $2.25B appeared first on Coinpedia Fintech News GameStop Corp. (NYSE: GME) has announced the pricing of its upsized sale of convertible senior notes due 2032. The established gaming retailer up-scaled its sale of notes from $1.75 billion, announced earlier this week, to about $2.25 billion. The company also announced that initial purchasers of the notes will be given an option to purchase an additional $450 million within a 13-day period. As a result, GameStop has estimated to raise up to $2.68 billion after the sale of notes is closed June 17, 2025. Could GameStop Be Preparing for More Bitcoin Purchases? The company indicated that the funds will be used to make strategic acquisitions and investments, which aligns with its long-term goal. As Coinpedia previously reported , GameStop has already disclosed holding around 4,710 Bitcoins, which were purchased during the first quarter of 2025. “GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions,” the announcement noted . The company has been betting on an imminent parabolic rally of Bitcoin in the long haul, fueled by clear crypto regulatory frameworks in the United States. Furthermore, more companies have followed in the footsteps of Strategy in implementing a BTC treasury management plan to hedge against inflation. At the time of this writing, around 228 entities, led by publicly traded companies, have adopted a BTC treasury management plan. Consequently, the supply of Bitcoin on centralized exchanges has continued to exponentially decline, thus further exacerbating the existing supply vs demand shock.

2025-06-13 03:02
U.S. SEC Postpones Verdict on Dogecoin, Hedera, Avalanche Spot ETFs
The post U.S. SEC Postpones Verdict on Dogecoin, Hedera, Avalanche Spot ETFs appeared first on Coinpedia Fintech News The United States Securities and Exchange Commission (SEC) has continued postponing decision-making on spot crypto ETFs. In the past 24 hours, the SEC delayed the decision to either approve or deny listing and trading of shares of Grayscale Hedera Trust (HBAR). The agency also made a similar decision on VanEck Avalanche ETF and Bitwise Dogecoin ETF. According to the respective filing, the agency will be instituting proceedings to determine whether the proposed rule change should be approved or disapproved. In the next 21 days, the SEC will be accepting written reviews from the public to determine whether the proposed rule changes meet all the regulatory requirements. Additionally, the agency has given any individual seeking to file a rebuttal upto 35 days. When Will the SEC Approve More Crypto Spot ETFs According to market data from Polymarket, the chances that the U.S. SEC gets to approve several crypto ETFs before the end of this year remains high. Moreover, the Donald Trump administration has made deliberate efforts to provide clear crypto regulations and enable the mainstream adoption of digital assets by institutional assets. Earlier this week, Eric Balchunas, a senior analyst at Bloomberg, predicted that a potential altcoin ETF summer is on the horizon. Balchunas highlighted that Solana (SOL) will likely lead in spot ETF approvals. Furthermore, the SEC has been engaging the fund managers seeking to offer spot SOL ETFs in a similar manner to last year’s spot Ether ETF issuers. Market Impact The continued delays by the SEC on spot crypto ETFs have frustrated investors waiting for the much-anticipated altcoin summer in 2025. Furthermore, the wider crypto market cap dropped over 5 percent to hover about $3.44 trillion at the time of this writing. As a result, more than $642 million was liquidated from the crypto leveraged market, with the majority involving long traders.

2025-06-13 01:58
Ripple vs SEC Update: Mutual Request to End Injunction and Release $125M Penalty
The post Ripple vs SEC Update: Mutual Request to End Injunction and Release $125M Penalty appeared first on Coinpedia Fintech News The United States Securities and Exchange Commission (SEC) and Ripple Labs filed another motion to U.S. District Court Judge Analisa Toress requesting the dissolution of the existing injunction. According to the court filing dated June 12, 2025, both parties requested the court to order a release of the $125 million penalty from the escrow. The joint motion requested the court to distribute $50 million to the U.S. SEC as a settlement. The filing suggested that the remaining funds in the escrow be directed to Ripple. Last month, the court denied a joint motion by Ripple and the SEC due to lack of supporting evidence. The filing argues that 'exceptional circumstances' — including a settlement, the SEC’s shift in crypto policy, and a desire to avoid further litigation — justify modifying Judge Torres’s final judgment. This follows her May decision, where she denied a similar request for… https://t.co/2pPQBmZFAE — Eleanor Terrett (@EleanorTerrett) June 12, 2025 Impact of Ripple vs SEC Joint Motion on XRP The recent joint motion between Ripple and the SEC did not have an immediate positive impact on XRP price . The large-cap altcoin, with a fully diluted valuation of about $218 billion and a 24 hour average traded volume of around $2.3 billion, had dropped 4 percent to trade about $2.18 on Thursday, during the late North American trading session. In the daily timeframe, XRP price has been forming a potential inverse head and shoulder (H&S) pattern after an impressive bullish breakout during the fourth quarter 2024. With XRP price having consolidated for the first half of 2025, several indicators, including the daily MACD , signal an imminent bullish sentiment in the second half of the year. However, a consistent close below the established support level around $2 will signal more pain for the XRP holders in the subsequent months.

2025-06-13 00:49
Coinbase Unveils New Products: Are They the Awaited Triggers to Attract More Crypto Traders?
The post Coinbase Unveils New Products: Are They the Awaited Triggers to Attract More Crypto Traders? appeared first on Coinpedia Fintech News Coinbase Global Inc., (NASDAQ: COIN) has unveiled more enticing features and products to lure more customers. On Thursday, Coinbase announced a series of new products geared towards enhancing mainstream cryptocurrency adoption. On the top list, Coinbase unveiled its Coinbase One Card in collaboration with American Express. The Coinbase One Card will offer up to 4 percent Bitcoin back on each purchase. The cryptocurrency exchange announced the launch of perpetual futures in the United States, with the feature expected to be expanded to global markets soon. The exchange also introduced its Coinbase Business and announced the waitlist is open to entrepreneurs seeking to venture into the crypto space. Coinbase also announced a strategic partnership with Shopify to enable USDC checkouts on Base through Shopify Payments and Shop Pay. Will Coinbase Overthrow Peers? As Coinpedia has reported in the past, Coinbase has suffered significant criticism for its poor customer service, especially during challenging times such as account takeovers and scams. As a result, Coinbase has continued to record significantly low quarterly trades volume compared to Binance and Bybit . The launch of the new products will play a crucial role in rebuilding its broken trust with the customers. Moreover, Coinbase is heavily regulated in the United States and has huge backing from institutional investors seeking to venture into the crypto market. However, Coinbase will have to use more unique tactics to attract more customers amid heightened competition from its competitors. Rising competition from other crypto exchanges, such as Upbit and Kraken , also presents more headwinds for Coinbase in the near future. Nonetheless, the cryptocurrency industry will continue to boom in the near future, fueled by institutional investors and clear crypto regulations, thus ensuring a long term growth prospects for Coinbase.

2025-06-12 23:47

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