“XRP Case: SEC Initiates New Filing, Countering Ripple’s Claims”

The regulatory body emphasizes the significance of post-complaint facts in determining avenues for redress, refuting Ripple’s claims that this information doesn’t impact court decisions.

The Securities and Exchange Commission (SEC) concluded that the discovery requests are procedurally appropriate and highly relevant, asserting that Ripple’s procedural objections lack merit.

In its recent filing, the SEC debunked Ripple’s argument that the SEC’s proposal was “untimely,” affirming that seeking discoveries related to remedies doesn’t expire over time and is a standard procedure for securities law violations.

After Ripple’s objection to the SEC’s recent request for audited financial statements and contracts related to XRP sales, Shibarium announces a new era in SHIB burns with a transformative burning mechanism.

The prominent member of the Shiba Inu team revealed in a recent post on X that the mechanism will transfer tokens to non-spendable blockchain wallets, aiming to reduce the current circulating supply of Shiba Inu. According to the article, the mechanism is designed to “strategically reduce the token’s supply” to increase the value of SHIB and benefit the Shibarium ecosystem. Instead of manual operation, it will now function automatically.

During the testing phase of this new mechanism, the SHIB team will implement several improvements “to enhance efficiency and reliability.” This innovative burning method will be tested on the Shibarium test network, also known as Puppynet.

READ also Whale Alert: Surge in XRP Whale Activity Indicates Major Transfers

Arthur Hayes, the influential figure predicting Bitcoin’s critical bottom, underscores the potential return of waning inflationary pressures in the global economic scenario.

Based on this analysis, Hayes anticipates a 30% correction from the highest price of the Bitcoin Exchange-Traded Fund (ETF) at $48,000. Bitcoin’s price has declined since the Securities and Exchange Commission approved 11 ETFs currently trading in the market. At the time of writing, Bitcoin is traded at $39,795, a 0.70% decrease over the past 24 hours, according to CoinMarketCap.

If this prediction materializes, Hayes envisions Bitcoin dropping to the price range of $30,000 to $35,000. The co-founder of BitMEX and former CEO offers a significant forecast for Bitcoin’s price as the largest cryptocurrency tests its bottom.

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