Ripple has filed a motion to compel the United States Securities and Exchange Commission to disclose its internal cryptocurrency trading policies as part of the ongoing legal battle with the securities regulator. James Filan, an attorney closely following the SEC's case against Ripple, shared a new motion document seeking to bring clarity to whether the SEC permitted its own employees to trade XRP, which, as per the regulator’s allegations, is an unregistered security. Filed on Friday on behalf of several defendants — including Ripple Labs, Ripple CEO Brad Garlinghouse, and Ripple executive chairman Chris Larsen — the motion asks the …

Asset managers and companies currently hold over 6% of Bitcoin’s (BTC) circulating supply, according to Buy Bitcoin Worldwide. A breakdown of the data shows that Bitcoin fund issuers and asset managers hold about 4%, public companies account for nearly 1% and private companies own roughly 0.83% of the cryptocurrency’s supply. It's clear that institutional investors have continued to add crypto to their portfolios, and Adam Proctor, managing director for billionaire Simon Nixon’s investment firm — Seek Ventures — said the company plans to increase “allocation to crypto,” as it believes it to be an “important area for the future.” CNBC …

Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020. MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company …

Bitcoin (BTC) rallied above the psychological hurdle at $50,000 today for the first time since May 15. The sharp rally of the past few days has turned the sentiment bullish, with many expecting the resumption of the bull run. Morgan Creek Digital co-founder Anthony Pompliano told CNBC on Monday that Bitcoin could make a blow-off top, similar to the one seen in 2017 when the price had surged from “$10,000 to $20,000 in 18 days.” The Crypto Fear & Greed Index has risen to 79, indicating extreme greed. Just a month back, the indicator was showing a reading of extreme …

Wells Fargo, in partnership with NYDIG and alternative assets manager FS Investments, has registered a new investment fund dubbed “FS NYDIG BITCOIN FUND I,” which will offer the bank’s wealthy clients an opportunity to gain indirect exposure to Bitcoin (BTC). In another sign of growing institutional interest, filings submitted to the U.S. Securities and Exchange Commission by BlackRock show a 6.71% stake in Marathon Digital Holdings and a 6.61% stake in Riot Blockchain. BlackRock’s total investments in both the publicly traded Bitcoin mining firms are roughly valued at $384 million. Coinbase CEO Brian Armstrong announced on Aug. 20 that the …

XRP price almost surged to its three-month high following a strong uptrend continuation on Aug. 14. Nevertheless, its wild weekly run-up triggered overvaluation risks, thus raising possibilities of an imminent price pullback. In detail, the XRP/USD exchange popped 11.78% higher to reach $1.20 for the first time since May 22. The pair's gains appeared as a part of a prevailing bullish trend that started July 20 when it was trading for as low as $0.154 — a 134% upside retracement on the whole. On a week-to-date timeframe, the XRP/USD rates were up circa 54%. XRP overbought The latest bullish moves …

A KPMG report titled “Pulse of Fintech H1 2021,” shows that the total investment in the blockchain and cryptocurrency sector in the first half of this year has risen to $8.7 billion, which is more than double the $4.3 billion worth of deals done in 2020. KPMG global fintech co-leader Anton Ruddenklau said: “Cryptocurrency and blockchain are exploding globally. I think for the rest of this year at least, crypto will be a very hot ticket for investors.” Separate research by blockchain market intelligence Blockdata also shows that 55 out of the top 100 banks by assets under management have …

Bitcoin’s (BTC) strong recovery and march toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. That has boosted the total crypto market capitalization to over $1.9 trillion. Data from Glassnode shows a sharp increase in the dominance of Bitcoin transactions exceeding $1 million during the past few months. The on-chain analytics firm noted in a report that the transactions by the $1 million–$10 million group surged when Bitcoin corrected to $29,000 in July. This suggests that institutional investors may have been buying, which is “fairly constructive for price.” Further evidence of possible institutional buying …

Ripple's XRP token could hit $1 in the coming days, according to a classic technical chart setup. Dubbed a "double bottom," the trend reversal indicator appears after the price bottoms out at a level, rebounds toward a higher resistance level, and then pulls back to or near the first bottom level — only to rebound again to the previous resistance line (also called the "neckline"). Should the price close above the neckline, an extended move upward is anticipated, the length of which equals the total height between the neckline and the bottom level. It appears that XRP is closer to …

Bitcoin’s (BTC) recovery from $29,482.61 on July 21 has continued to surpass one resistance after another. On Aug. 9, Bitcoin rose above the 200-day simple moving average, an indicator watched by institutional investors to determine whether the asset is bullish or bearish. A positive sign about the Aug. 9 rally is that Bitcoin was not affected by the flash crash in gold, which momentarily dipped to a four-month low. This suggests that traders are focusing on the fundamentals of the sector and are not affected by the performance of other asset classes. Glassnode noted that investors holding Bitcoin for more …

Bitcoin (BTC) has staged a smart recovery in the past few days and the interest in the crypto sector seems to be picking up. JPMorgan Chase has added access to a new Bitcoin fund created by New York Digital Investment Group (NYDIG) for its private banking clients. The increasing number of traditional financial institutions opening up crypto trading opportunities for their clients shows there is strong demand for the sector. On-chain analyst Willy Woo said recently that strong holders had been scoping up Bitcoin and locking “them away for long-term investment”, resulting in a supply squeeze. Woo added that he …

The ongoing case between fintech firm Ripple and the United States Securities and Exchange Commission took another turn this week when the company was granted access to Binance’s documents. U.S. Magistrate Judge Sarah Netburn granted Ripple CEO Brad Garlinghouse’s motion to “obtain international discovery” of Binance records. According to the docket, the approval was made on Tuesday while a duplicate request was denied: “ORDER granting 274 Letter Motion for Discovery. The Court will communicate with counsel to arrange delivery of the letters.” As part of the case against Ripple for selling unregistered securities, the SEC claims that Garlinghouse sold more …