Autor: dot-traders

• FOX Business journalist Eleanor Terrett believes it could open the door for other companies facing SEC lawsuits
• The SEC sued Binance and its former CEO, Changpeng Zhao, in 2023 for violating securities laws in the US

Binance and the US Securities and Exchange Commission (SEC) have filed a joint motion pausing their legal case for 60 days.

According to the document, the new SEC crypto taskforce – created by acting SEC chair Mark Uyeda – may have had a possible impact on the case.

The motion, submitted to the US District Court for the District of Columbia on February 10, reads: “The work of this task force may impact and facilitate the potential resolution of this case.”

According to FOX Business journalist Eleanor Terrett, this could open the door for other companies facing SEC lawsuits.

In a post on X, Terrett said: “I expect we’ll see other non-fraud cases (i.e. @Ripple, @coinbase, @krakenfx and others) follow suit in this manner.”

🚨NEW: Here’s the first requested pause on #crypto litigation in the courts since @MarkUyedaUS took over as acting chair. @binance and the @SECGov have just filed a joint motion to stay the agency’s case against the exchange for 60 days, citing the new SEC crypto task force as… pic.twitter.com/D2zcolMNC5

— Eleanor Terrett (@EleanorTerrett) February 11, 2025

SEC lawsuits

In June 2023, the SEC sued Binance and its former CEO, Changpeng Zhao, for violating securities rules in the US.

According to a report, the agency argued that Binance secretly enabled high-value US customers to trade on the platform as an unregistered securities exchange and broker-dealer.

Coinbase, which is fighting the SEC, was granted an interlocutory appeal in January, temporarily suspending its ongoing court case. According to the SEC, Coinbase amounted “to the operation of an unregistered brokerage, exchange, and clearing agency in violation of federal securities laws.”

Ripple and its long-running case with the SEC stems from its XRP token. In 2020, the SEC sued Ripple, Chris Larsen, and Garlinghouse, alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering, according to the regulator.

The post Binance and SEC file joint motion pausing legal case for 60 days appeared first on CoinJournal.

• NYSE Arca has filed for Grayscale Cardano ETF, seeking to list a Cardano Trust under the ticker GADA.
• Bitcoin Pepe presale launches on February 11, 2025.
• Bitcoin Pepe aims to build a Layer-2 solution for Bitcoin leveraging Solana’s speed and low fees and Bitcoin’s security.

On February 10, 2025, NYSE Arca filed a 19b-4 form with the SEC to list the Grayscale Cardano Trust, marking a significant step toward the first US spot Cardano (ADA) ETF.

Notably, the ADA ETF filing coincides with the launch of Bitcoin Pepe’s presale, which is scheduled to go live today (February 11, 2025).

SEC has 45 days to give feedback on the Grayscale Cardano ETF

According to the NYSE Acra filing, Grayscale, a leading crypto asset manager, has partnered with NYSE Arca to propose the Grayscale Cardano Trust under the ticker GADA, seeking to list and trade shares on the NYSE. The trust would hold Cardano’s ADA tokens, with each share representing fractional ownership of the assets, minus expenses.

The filing, submitted under NYSE Arca Rule 8.201-E, reflects the growing institutional interest in altcoin ETFs, following the SEC’s approval of Bitcoin and Ethereum spot ETFs last year. The trust’s net asset value will be calculated daily using an index price from regulated exchanges like Coinbase and Kraken, with Coinbase Custody safeguarding assets and BNY Mellon serving as administrator.

Following the news, the price of Cardano’s native token, ADA, had surged by over 14% to $0.7948 at press time. However, regulatory hurdles remain, as the SEC previously categorized Cardano as security in lawsuits, and the absence of CME ADA futures could delay approval.

Nevertheless, the SEC has 45 days to approve, deny, or extend its review, with market optimism tempered by caution over regulatory challenges.

Bitcoin Pepe presale, the first Bitcoin meme ICO, launches today

As the crypto community celebrate the Cardano ETF proposal that could impact the price of ADA if approved, another crypto project, Bitcoin Pepe, is set to launch the world’s first meme-focused ICO on Bitcoin today with 50% of its BPEP token supply will be available pre-market.

Starting at $0.021, BPEP’s price will increase by 5% after each stage sells out, with early investors potentially seeing gains of over 4x before exchange listings.

Besides the presale, the Bitcoin Pepe project aims to build a Layer-2 solution for Bitcoin, combining Solana’s speed and low fees with Bitcoin’s security, introducing the PEP-20 token standard to enable meme coin launches on the blockchain.

Bitcoin Pepe seeks to unlock $2 trillion of dormant Bitcoin capital for the $100 billion meme coin market. It offers a meme-friendly ecosystem, including a decentralized exchange akin to Solana’s pump.fun.

While the project has garnered over 10,000 social media followers and reflects retail enthusiasm for meme coins, its speculative nature carries significant risks just as with any other memecoin project.

However, the Bitcoin Pepe presale launch aligns with a broader meme coin boom, following successful raises by projects like Pepe Unchained and Wall Street Pepe, signalling a possible presale success.

Notably, both the Grayscale Cardano ETF filing and Bitcoin Pepe’s presale highlight the dynamic evolution of the cryptocurrency market, with regulated investment vehicles and speculative ICOs catering to diverse investor appetites.

With the Cardano ETF awaiting clearance by the US SEC, investors could try the Bitcoin Pepe presale for possible returns once it gets listed on exchanges once the presale concludes.

The post NYSE Arca files 19b-4 for Grayscale Cardano ETF as Bitcoin Pepe’s presale goes live appeared first on CoinJournal.