Schlagwort: crypto business

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SEC drops its case against MetaMask, Consensys says

  • Consensys has announced the SEC will drop its case against MetaMask.
  • The regulator sued the company over the wallet’s staking feature, alleging securities violations.
  • SEC has dropped investigations or cases against Coinbase, Gemini, Robinhood, Uniswap.

The US Securities and Exchange Commission has agreed to drop its case against MetaMask, Consensys founder Joseph Lubin said.

In an announcement posted on X, the Ethereum co-founder noted the regulator and Consensys had agreed to terminate the legal tussle that SEC brought by suing the wallet provider.

“I’m pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed.  Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case,” he noted.

The SEC sued Consensys in June 2023, claiming that the company’s staking service via MetaMask violated the US securities laws.

SEC drops numerous crypto lawsuits, probes

Consensys filed a lawsuit against the regulator in April, with the company’s legal team alleging overreach as the SEC reportedly commenced an investigation against Ethereum and for its probe into MetaMask. Per Consensys, the SEC has erred in alleging that Ethereum (ETH) was a security.

The latest move by the SEC adds to a series of developments that have seen it end investigations or drop several cases. It includes legal tussles against Coinbase and Gemini,  and investigations against Uniswap, Robinhood and Opensea.

SEC is taking this direction as the new leadership post-Gary Gensler strikes a pro-crypto and pro-innovation stance.

“We appreciate the SEC’s new leadership and the pro-innovation, pro-investor path they are taking. We will remain deeply engaged with public and private policymakers going forward.

Crypto wants the U.S. to address the best interests of consumers and businesses alike, and we are already on our way to making that happen,” Lubin added.

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MEXC invests $20 million in USDe to drive stablecoin adoption, launches $1,000,000 reward event

MEXC, the world’s leading cryptocurrency trading platform, has invested $20 million in USDe, Ethena’s synthetic dollar, as part of its commitment to expanding stablecoin adoption and fostering innovation within the crypto ecosystem. Meanwhile, MEXC Ventures, the investment arm of the global cryptocurrency exchange MEXC, has made a strategic investment of $16 million in Ethena. The acquired USDe will support stablecoin-related initiatives, including a campaign featuring a $1,000,000 reward pool.

Stablecoins are a cornerstone of the crypto market, providing liquidity and stability for traders and investors. USDe, issued by Ethereum-based DeFi platform Ethena, is designed to overcome the limitations of centralized stablecoins. Ethena is not just creating a new digital asset—it is building a robust ecosystem around USDe, which includes Ethereal, a spot trading platform, and Derive, an on-chain options protocol. These developments enhance the utility of USDe and contribute to a more dynamic DeFi landscape.

To accelerate stablecoin adoption, MEXC’s $20 million investment in USDe is accompanied by several user-focused incentives. These include zero-fee trading pairs and high-APR staking events, allowing users to earn $1,000,000 worth of rewards while participating in the growing stablecoin market. These benefits and events will be accessible through MEXC’s centralized exchange, making it easier for users to explore and trade USDe.

Tracy Jin, COO of MEXC, said:

“Stablecoins play a pivotal role in the development of the broader cryptocurrency market, and MEXC is committed to supporting their expansion.

“As digital asset adoption increases, stablecoins will attract greater investment, creating new opportunities for users. We recognize Ethena and USDe as key players in this evolving landscape, and we are excited to contribute to their success by providing users with more stable and efficient financial solutions.”

MEXC is dedicated to investing in crypto-native projects that thrive in decentralized ecosystems. Assets like USDe, which enable reward-bearing instruments such as sUSDe, are inherently designed for DeFi and reduce the reliance on centralized stablecoin issuers. Looking ahead, MEXC aims to further enhance stablecoin accessibility by allowing users more opportunities to hold USDe and earn passive rewards directly on centralized exchanges.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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BTC dips to $86k for the first since November amid market sell-off

Key takeaways

  • BTC dipped to the $86k level for the first time since November 2024.
  • The Bitcoin Pepe presale has surpassed $3.5m as investors eye stage six.

Bitcoin falls to a three-month low as total crypto market cap dips below $3T

The cryptocurrency market has been bearish since the start of the week. Bitcoin is down by nearly 4% in the last 24 hours and briefly touched the $86k level on Tuesday. The dip was BTC’s lowest level in three months as the broader crypto market experienced a massive sell-off.

At press time, the price of Bitcoin stands at $88,752 and could continue with its recovery if the bulls regain control. The total cryptocurrency market cap also dropped below $3 trillion as Ether and other altcoins underperformed. 

What is Bitcoin Pepe?

Bitcoin and other major cryptocurrencies have been underperforming over the last few days. However, investors could consider the dip as an opportunity to purchase more tokens before a possible market recovery. 

Investors also continue to push funds into new and exciting projects. Bitcoin Pepe is one of the projects gaining ground in its presale thanks to its unique value proposition to investors. 

Bitcoin Pepe is a project seeking to leverage the liquidity and security of the Bitcoin blockchain. The project will use Bitcoin’s position in the market to introduce memecoins to its ecosystem. 

According to the official website, Bitcoin Pepe is a layer-2 network building on the Bitcoin blockchain. This project is a meme-specialized layer-2 solution built on top of Bitcoin, bringing Solana-style scalability to the Bitcoin network.

The layer-2 network will enable Bitcoin Pepe to become home to all memecoin trading and move all this economic activity to the BTC ecosystem. It will unlock decentralized finance (DeFi) and meme trading on top of BTC.

Bitcoin Pepe is also the first-ever meme initial coin offering (ICO) on the Bitcoin blockchain, making it the perfect fusion between BTC’s security and the unstoppable force of memecoins. 

The project will make it easy for BTC Maxis to trade memes. Combining high levels of trust (BTC) with high levels of performance (SOL) will lead to high levels of retail mass adoption.

Bitcoin Pepe presale to enter stage six, raises over $3.5m

The Bitcoin Pepe presale is two weeks old and has raised over $3.5 million so far. The presale will enter the sixth stage in the coming hours or days, with the $BPEP price set to slightly increase. 

$BPEP, Bitcoin Pepe’s native token, can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this fifth presale stage, $BPEP is going for $0.0255 and is set to increase to $0.0268 in the next stage. The Bitcoin Pepe presale could be an opportunity to purchase $BPEP at a discount. 

Will Bitcoin Pepe improve the Bitcoin ecosystem?

Bitcoin Pepe will unveil products and services that would make memecoins available on the Bitcoin blockchain. While Bitcoin is the leading cryptocurrency in the world, its blockchain isn’t as versatile as Ethereum or Solana.

This project wants to change this narrative by introducing new utilities to the Bitcoin blockchain. With Bitcoin Pepe, memecoins can launch on the Bitcoin blockchain with ease. Introducing memecoins on the Bitcoin blockchain will enable it to become home to a crazy high-octane meme experience. 

Bitcoin Pepe is set to unlock $2 trillion in dormant BTC capital and make it available for memecoin trading. This layer-2 network will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users. Its native $BPEP token will power several activities within the Bitcoin Pepe L2 network. 

Should you buy the $BPEP token ahead of the sixth presale stage?

The Bitcoin Pepe presale is heading into its sixth stage in the coming hours or days, with the token price set to increase slightly. This could be an excellent opportunity to get in on the project as presales allow investors to gain early exposure to projects. 

Bitcoin Pepe is working hard to become the leading L2 network on the Bitcoin blockchain, offering users security and liquidity. By ushering in the era of memecoins, Bitcoin Pepe could become one of the most important projects within the Bitcoin ecosystem. The presale allows investors to purchase its native token at a discount before it goes live on trading platforms.

The post BTC dips to $86k for the first since November amid market sell-off appeared first on CoinJournal.

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Montana house representatives reject Bitcoin reserve bill

  • Montana House has rejected the Bitcoin reserve bill.
  • The Bitcoin reserve bill aimed for $50M in crypto.
  • The house cited risk to taxpayer funds.

On February 22, 2025, Montana’s House of Representatives decisively voted down House Bill No. 429, a proposal that aimed to establish Bitcoin (BTC) as a state reserve asset.

The 41-59 vote marked a significant setback for advocates of integrating cryptocurrency into Montana’s financial strategy, highlighting a deep divide over the role of digital assets in public finance.

Introduced by Representative Curtis Schomer earlier in February, the bill sought to diversify the state’s investment portfolio by creating a special revenue account. This account would have allowed the state treasurer to allocate up to $50 million for investments in stablecoins, precious metals, and cryptocurrencies with a market capitalization exceeding $750 billion over the past year, a threshold currently met only by Bitcoin.

Supporters argued that such a move could yield higher returns than traditional bond investments, positioning Montana as a forward-thinking player in the evolving financial landscape.

Montana house representatives wary of risks involved

Despite clearing the House Business and Labor Committee on February 19 with a 12-8 vote, backed by Republicans and opposed by Democrats, the bill faced stiff resistance during its second reading in the House.

Fiscal conservatives, including many Republicans, voiced concerns over the speculative nature of Bitcoin, emphasizing the state’s duty to protect taxpayer money.

Representative Steven Kelly captured this sentiment during the House Floor Session, stating, “It’s still taxpayer money, and we’re responsible for it. We need to protect it. These types of investments are way too risky.”

Representative Jane Gillette echoed these doubts, pointing out that the bill lacked clear guidelines on how the funds would be managed, while Representative Bill Mercer warned that Bitcoin’s history of dramatic price swings made it an imprudent choice for public funds.

On the other side, advocates like Representative Lee Demming argued that embracing digital assets could safeguard Montana’s reserves against inflation and bolster long-term financial growth, a perspective shared by Bitcoin proponents nationwide.

The rejection of HB 429 effectively kills the proposal for now, requiring any future efforts to start anew in Montana’s legislature.

US states push for Bitcoin reserves

Montana’s decision stands in contrast to a growing trend among US states exploring Bitcoin as a reserve asset.

Approximately 24 states, including Utah, Arizona, Oklahoma, Texas, and Ohio, have introduced similar legislation, with Utah’s HB230 making the most progress by allowing up to 5% of public funds to be invested in digital assets.

Nationally and globally, the push for Bitcoin reserves is gaining traction, with countries like Switzerland, Brazil, Japan, and Russia also weighing the cryptocurrency’s potential as a strategic asset.

Dennis Porter, CEO of the Satoshi Action Fund, which collaborated with Montana legislators like Schomer and Senator Daniel Zolnikov, expressed disappointment with Montana’s move but remained optimistic about the broader movement. He noted that Bitcoin’s decentralized structure and limited supply make it an attractive hedge against economic uncertainty.

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SEC drops investigation into Robinhood Crypto

  • Robinhood says the SEC has ended the regulator’s probe into Robinhood Crypto.
  • SEC issued a Wells Notice to Robinhood Crypto in May 2024.
  • SEC’s closing of the Robinhood Crypto investigation comes days after the agency closed a similar probe against Opensea.

The US Securities and Exchange Commission has dropped its investigation into Robinhood’s digital assets arm.

Robinhood announced via blog post on Monday, Feb. 24 that the SEC has closed its enforcement action probe against the company.

“We applaud the staff’s decision to close this investigation with no action,” said Dan Gallagher, chief legal officer of Robinhood Markets.

The SEC’s decision to end its investigation into Robinhood comes just days after another platform, Opensea, said the regulator was ending its probe.

Both Robinhood and Opensea received ‘Wells Notices’ from the SEC in 2024.

Last week, crypto exchange Coinbase also announced the regulator had agreed to dismiss the lawsuit it had filed against the US-based company in 2023.

SEC closes Robinhood probe

In the blog post on Monday, Robinhood said it received communication from the SEC’s Enforcement Division on Friday, Feb. 21.

The letter detailed the agency’s decision to end the investigation into Robinhood Crypto, with no further action. SEC’s Wells Notice alleged potential securities laws violations by the trading platform.

However, Robinhood maintained it had not violated any securities laws and did not offer securities to users.

“This investigation never should have been opened,” Gallagher added. “Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities. As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC.”

The SEChas taken a more pro-crypto innovation stance since the exit of former chair Gary Gensler. President Donald Trump’s appointment of pro-crypto individuals into positions at the agency has helped this shift, including the establishment of a crypto task force by acting chair Mark Uyeda.

 

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