The post Crypto Weekly Roundup: ZKX Shut Down, SEC v Ripple Wraps Up, & More appeared on BitcoinEthereumNews.com.

Bitcoin surges to $58,000, fueled by increased ETF inflows, signaling renewed institutional confidence, while the Ripple vs. SEC case concludes with a $125 million fine, far less than the $2 billion sought by regulators. Meanwhile, the decentralized exchange ZKX shut down abruptly, sparking investor outrage over its sudden closure. Let’s dig deeper.  Bitcoin Japanese investment firm Metaplanet has secured a 1 billion yen ($6.8 million) loan from one of its shareholders as a means to its plans to double down on its pro-Bitcoin strategy.  In a filing to the SEC, Capula Investment Management reported holding $464 million in spot Bitcoin ETF shares as of June 30, 2024. Bitcoin has surged to $60,000, driven by a significant increase in inflows into ETFs, marking a renewed confidence among institutional investors, who are turning to Bitcoin as a stable and promising investment. DeFi Synthetix founder Kain Warwick donated $86,000 in Illuvium tokens to former CFO SynthaMan after the latter lost his SNX holdings due to liquidation caused by market volatility and high-risk decisions.  Decentralized exchange ZKX abruptly ceased operations, citing economic infeasibility and triggering a significant backlash from investors over the lack of communication and transparency. Altcoins Cardano is facing a potential 12% decline in its price, driven by recent bearish trends and overall market conditions. Despite the anticipation surrounding the upcoming Chang hard fork upgrade, which is meant to bring improvements to the network, the technical analysis suggests a troubling outlook. As the first stage of the MoonTaurus (MNTR) presale nears completion, investors are witnessing a remarkable surge in interest, setting the stage for substantial gains as Phase 2 approaches. The newest memecoin from the Solana blockchain, Husky Inu’s recently launched $HINU presale, has generated over $300,000 since going live.  Technology Understand how parathreads significantly lower the barrier to entry for projects,…

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Filed under: News - @ August 11, 2024 2:20 pm