Legal reporter Chris Dolmetsch highlighted the potential “Ripple effect” on the broader cryptocurrency industry following the Ripple case outcome. The fintech company was ordered to pay $125 million in penalties to the SEC, a fraction of the original $2 billion fine sought by the regulator. Dolmetsch noted that while the case may not be fully resolved—given the possibility of an SEC appeal—the ruling is already influencing how future cryptocurrency lawsuits might be handled. Bloomberg Intelligence analyst Elliott Stein suggested that Coinbase (NASDAQ: COIN) could benefit from this legal precedent in its ongoing battle with the SEC, which accused the exchange of operating as an unregistered broker and clearing agency last June.
Shiba Inu Integrates Visa and Mastercard for Easier Crypto Purchases
The Shiba Inu network has announced the integration of on-ramp features with Visa (NYSE: V) and Mastercard (NYSE: MA) on Shibarium, allowing users to purchase BONE and Circle’s USDC with fiat currencies. This development aims to bridge the gap between traditional finance and digital assets, potentially increasing the adoption of Shiba Inu’s BONE token by making it more accessible. The on-ramp service for USDC on Shibarium is also expected to simplify entry into the Shiba Inu ecosystem for newcomers, further driving growth and engagement.
Goldman Sachs Discloses Significant Bitcoin ETF Investments
Goldman Sachs has revealed its substantial holdings in Bitcoin exchange-traded funds (ETFs), totaling $419 million, according to a recent 13F filing with the SEC. The majority of this investment, $239 million, is in BlackRock’s (NYSE: BLK) iShares Bitcoin Trust (IBIT). The financial giant also holds shares in other Bitcoin-related products, including Fidelity Wise Origin Bitcoin and Grayscale Bitcoin Trust. Despite these investments, Goldman Sachs remains cautious about cryptocurrencies. Earlier this year, the Wall Street Journal reported that the firm, led by CIO Sharmin Mossavar-Rahmani, still does not fully embrace crypto as a legitimate investment class, reflecting the ongoing skepticism within traditional financial institutions.
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