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Crypto exchange Coinbase has lost a Supreme Court case over its Dogecoin sweepstakes. In Coinbase, Inc. v. Suski, consumers claimed they were duped into paying $100 or more to enter a sweepstakes in June 2021 for a chance to win prizes of up to $1.2 million in the cryptocurrency Dogecoin. In a unanimous ruling on Thursday, Justice Ketanji Brown Jackson stated that the court, not an arbitrator, should decide whether the dispute belongs in arbitration.
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The United States government is about to begin selling off a bunch of gasoline. Announced Tuesday, about 1 million barrels — the equivalent of 42 million gallons of gasoline — will be released for sale from the Northeast Gasoline Supply Reserve (NGSR). The reason why? Summer road trips.
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The United States Securities and Exchange Commission has approved eight spot Ether exchange-traded funds (ETFs) in the country. In a landmark decision on Thursday evening, the financial watchdog approved 19b-4 forms for the ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.
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A month after its ‘halving’ and in the midst of Bitcoin Pizza Day this week, the leading cryptocurrency seems to be in the mood for celebration.
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Bitcoin was trading around $68,000 on Monday, which was up 3.4% in the last 24 hours and over 9% in the past week. Bitcoin’s all-time high is $73,835, which it reached on March 14, 2024.
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Crypto asset trading firm QCP Capital has predicted a potential 60% increase in the price of Ether, projecting that it could surge around $6,000 if the Securities and Exchange Commission (SEC) approves spot ethereum exchange-traded funds (ETFs). The crypto market is volatile right now, and all eyes are on the regulator, which will announce its decision this week.
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The presumptive Republican presidential nominee, Donald Trump, announced late Tuesday afternoon that he would accept donations in Bitcoin, Ether, Dogecoin, Solana, and other cryptocurrencies. With this move, he has become the first major party candidate to embrace digital currencies. Earlier this month, the former president declared himself as the candidate for cryptocurrency at a Mar-a-Lago gala, propelling crypto into the 2024 campaign.
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The U.S. House of Representatives passed a crypto market structure bill on Wednesday evening that aims to regulate the industry at large.
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The bill, “The Financial Innovation and Technology for the 21st Century Act” (FIT21), would effectively classify cryptocurrency as a commodity, not a security, and therefore exempt from securities regulations. It would also determine oversight of cryptocurrencies, whether they should be regulated by the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).
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