Terra Classic

Bitcoin

Ignite

Terra

Another week ends with substantial developments witnessed across the broader crypto market globally. Amid these developments, Bitcoin ETFs, Terra, and the US SEC appear to have sparked a tidal wave of speculations among crypto market fanatics.
Some of the most buzzed topics for this week are:
<h2 id="terra-sparks-inferences">Terra Sparks Inferences</h2>
Terraform Labs (TFL), the firm that backed the Terra USD (UST) stablecoin, filed for a <a href="https://coingape.com/terraform-labs-tfl-files-for-bankruptcy-protection-luna-lunc-price-fell-5/" target="_blank" rel="noopener noreferrer nofollow">Chapter 11 bankruptcy</a> in Delaware this week. Subsequently, some Terra Luna Classic community members received emails that Crypto.com, a renowned cryptocurrency exchange, is <a href="https://coingape.com/terra-luna-classic-lunc-delisting-confirmed-by-cryptocom/" target="_blank" rel="noopener noreferrer nofollow">delisting</a> the LUNC token.
Meanwhile, the <a href="https://coingape.com/terra-luna-classic-community-votes-on-crucial-proposal-ahead-of-key-upgrades/" target="_blank" rel="noopener noreferrer nofollow">Terra Luna Classic community</a> voted in favor of Proposal 12005, “Consistently set ICA Controller Parameter.” In addition, Proposal 12008, <a href="https://coingape.com/terra-classic-l1tf-core-security-upgrade-proposal-lunc-price/" target="_blank" rel="noopener noreferrer nofollow">“L1TF Terra Classic core security upgrade package,”</a> also came up for voting. The initial round noted 94% votes in favor, whereas 5% voted “Abstain.” A few community members also voted “no with a veto,” which resulted in the proposal hitting a <a href="https://coingape.com/terra-luna-classic-core-security-upgrade-proposal-hits-roadblock/" target="_blank" rel="noopener noreferrer nofollow">roadblock</a>.
On the other hand, the Terra Luna Classic burn scaled new heights as it reached the 95 billion mark ahead of <a href="https://coingape.com/terra-classic-burn-hits-95-billion-milestone-lunc-price-jumps-8-and-ustc-11/" target="_blank" rel="noopener noreferrer nofollow">Binance’s monthly burn mechanism</a>.
<h2 id="bitcoin-etfs-impact-bitcoin-s-market-dynamics">Bitcoin ETFs Impact Bitcoin’s Market Dynamics</h2>
Amid the colossal wave of volatility stirred by the inception of spot Bitcoin ETFs, <a href="https://coingape.com/breaking-bitcoin-notes-25-mln-outflows-amid-etf-led-crypto-market-volatility/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin noted outflows</a> worth $25 million, nabbing traders’ attention globally. Meanwhile, <a href="https://coingape.com/invesco-wisdomtree-ignite-europe-bitcoin-etf-fees-battle/" target="_blank" rel="noopener noreferrer nofollow">CoinShares</a> hyped up the ETF race by slashing its physical Bitcoin fees in Europe, intensifying the rivalry with Invesco and WisdomTree within the European ETF realm.
Simultaneously, BlackRock, Fidelity, and Bitwise appear to be leading the U.S. ETF race as the best ETF service providers. On the other hand, <a href="https://coingape.com/spot-bitcoin-etf-grayscale-outflows-slows-down-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a> recorded phenomenal outflows, although market data showcased a gradual decrease in outflows over time.
Moreover, in the midst of Bitcoin ETFs’ saga, Bitcoin traded with high volatility over the week. After facing a pullback to $38K, the price witnessed a revival and rested back at the $41k mark.
Also Read: <a href="https://coingape.com/ftx-crash-embattled-crypto-exchange-offloads-crypto-assets-to-pay-customers/" target="_blank" rel="noopener noreferrer nofollow">FTX Crash: Embattled Crypto Exchange Offloads Crypto Assets to Pay Customers</a>
<h2 id="u-s-sec-s-legal-chronicles">U.S. SEC’s Legal Chronicles</h2>
The U.S. SEC recently filed a response against Ripple, stating that its <a href="https://coingape.com/xrp-lawsuit-sec-win-rippl-xrp-sales-discovery-requests/" target="_blank" rel="noopener noreferrer nofollow">remedies-related discovery requests</a> are procedurally proper. Aligning with this, the regulatory body sought penalties from Ripple. Whilst, in another legal battle, the regulatory body cited <a href="https://coingape.com/sec-cites-zakinov-vs-ripple-among-cases-binance-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">Zakinov vs Ripple Labs</a> in a Binance lawsuit.
Besides, Ripple sent a letter to <a href="https://coingape.com/xrp-lawsuit-ripple-sends-letter-to-judge-netburn-over-secs-factual-mischaracterization/" target="_blank" rel="noopener noreferrer nofollow">Magistrate Judge Sarah Netburn</a> regarding significant factual mischaracterization made by the U.S. SEC.
Also Read: <a href="https://coingape.com/bitcoin-btc-price-legendary-trader-john-bollinger-hints-next-step-to-watch/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price: Legendary Trader John Bollinger Hints Next Step To Watch</a>
The post <a href="https://coingape.com/crypto-headlines-of-the-week-terra-bitcoin-etfs-the-us-sec-ignite-speculations/" rel="noopener noreferrer nofollow">Crypto Headlines Of The Week: Terra, Bitcoin ETFs, &amp; The US SEC Ignite Speculations</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Headlines Of The Week: Terra, Bitcoin ETFs, & The US SEC Ignite Speculations

Table of Contents

Coingape News Media

Other articles published on Jan 28, 2024

Bitcoin Whales Increase Their Holdings By $3 Billion – Is A Price Surge Imminent?

FTX’s Cash Crunch: Unloading Crypto to Settle Customer Claims, Cash Reserves Reach $4.4B

Two Giant Altcoin Whales Made Big Trades: They Had an Impact on Price

DeSpread Allies with Astar

Top trader with a profitable track record adds Retik Finance (RETIK) to his Polygon (MATIC) and B...

Social Media Platforms Are Reluctant to Tackle Misinformation Ahead of U.S. Election

Join our free newsletter for daily crypto updates!