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<p>Between groundbreaking announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a limitless innovation territory and a battleground for regulatory and economic conflicts. Here is a summary of the most noteworthy news of the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.</p>
<h2 id="ripple-under-scrutiny-the-sec-ready-to-contest-its-victory">Ripple under scrutiny: The SEC ready to contest its victory</h2>
<p>Ripple, which had recently won a partial victory against the SEC, may see this decision overturned. Although Judge Analisa Torres ruled in favor of Ripple, notably by exempting secondary transactions from the qualification of securities, <a href="https://www.cointribune.com/en/crypto-is-ripples-victory-threatened-the-sec-could-turn-everything-upside-down-on-appeal/" target="_blank" rel="noopener noreferrer nofollow">this victory is far from definitive</a>. According to Dennis Kelleher, CEO of Better Markets, the SEC would have a 90% chance of succeeding on appeal, which could not only nullify Ripple’s legal gains but also disrupt crypto regulation in the United States. Kelleher asserts that Judge Torres has overturned decades of jurisprudence, an argument that could carry significant weight in future hearings. The potential appeal could prolong the legal uncertainty for Ripple and the entire crypto industry, jeopardizing the stability of its business model and posing risks to crypto regulation in the United States.</p>
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<h2 id="bitcoin-the-fbi-adds-fuel-to-the-fire">Bitcoin: The FBI adds fuel to the fire</h2>
<p>The FBI created confusion by responding to a Freedom of Information Act (FOIA) request concerning Satoshi Nakamoto, the creator of Bitcoin. Although the agency neither confirmed nor denied the existence of documents about Nakamoto, <a href="https://www.cointribune.com/en/satoshi-nakamoto-the-fbi-drops-a-bomb-on-the-identity-of-the-creator-of-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">it suggested that Satoshi could be one or more individuals</a>, thus reigniting speculation about his identity. This ambiguous statement has left the crypto community uncertain, especially since some theories involve agencies like the CIA. This persistent mystery continues to enhance the legend around Bitcoin and its creator, maintaining the mythical aura surrounding the first cryptocurrency.</p>
<h2 id="h-blackrock-s-ethereum-etf-approaches-one-billion-dollars">BlackRock’s Ethereum ETF approaches one billion dollars</h2>
<p>BlackRock’s iShares Ethereum Trust (ETHA), launched on July 23, 2024, <a href="https://www.cointribune.com/en/crypto-blackrocks-ethereum-etf-is-about-to-reach-1-billion-in-inflows/" target="_blank" rel="noopener noreferrer nofollow">is on the verge of surpassing the one billion dollar mark in inflows</a>, already reaching 901 million dollars. This rapid success positions BlackRock at the forefront of Ethereum ETF managers, surpassing giants like Fidelity, Bitwise, and Grayscale. The ETHA has attracted investors by providing direct exposure to ether through traditional brokerage accounts, thus simplifying access to this cryptocurrency while avoiding usual tax complexities. Despite this success, ether’s price has not followed the same trajectory, oscillating between 2,800 and 3,400 dollars, partly due to massive sales by institutions. Nevertheless, ether’s trading volume shows a renewed interest, suggesting a possible recovery in the medium term.</p>
<h2 id="h-bitcoin-challenges-the-imf-on-carbon-emissions">Bitcoin challenges the IMF on Carbon emissions</h2>
<p>The International Monetary Fund (IMF) recently published a damning report on Bitcoin’s environmental impact, accusing the cryptocurrency’s mining of significantly contributing to global carbon emissions. In response to these accusations, Daniel Batten, a staunch Bitcoin advocate, vehemently contested the IMF’s conclusions. <a href="https://www.cointribune.com/en/bitcoin-and-carbon-an-expert-contradicts-the-imf/" target="_blank" rel="noopener noreferrer nofollow">Batten criticizes the report for relying on outdated data and inappropriate comparisons</a>, which simplistically equate Bitcoin’s carbon footprint to that of artificial intelligence data centers. He argues that Bitcoin mining, far from worsening carbon emissions, could actually play a decarbonizing role by using renewable energy sources and harnessing energy surpluses that would otherwise be wasted. According to him, this activity could even stimulate innovation in the energy sector.</p>
<h2 id="h-solana-under-fire">Solana under fire</h2>
<p>Solana, often touted as the “Ethereum killer,” finds itself at the center of a growing controversy. <a href="https://www.cointribune.com/en/crypto-solana-accused-of-disguised-ponzi-scheme/" target="_blank" rel="noopener noreferrer nofollow">Accused of hosting a disguised Ponzi scheme, the network is criticized for its alleged manipulation of decentralization</a>. About 85% of transactions on Solana are voting transactions, favoring the most powerful validators at the expense of new entrants, thereby creating an environment where the “rich get richer.” This dynamic has led to pyramid scheme allegations, where new validators must continuously inject funds to maintain the system, mainly benefiting already established validators. Simultaneously, Solana faces severe technical issues, with a transaction failure rate reaching 83% on certain protocols, costing users thousands of euros.</p>
<h3 id="gold-and-silver-on-the-rise-cryptos-in-decline">Gold and silver on the rise: Cryptos in decline?</h3>
<p>While financial markets are in decline, precious metals, especially gold and silver, <a href="https://www.cointribune.com/en/gold-and-silver-on-the-rise-are-investors-fleeing-crypto/" target="_blank" rel="noopener noreferrer nofollow">are witnessing a notable increase, attracting investors seeking safety</a>. Gold has climbed to $2,496.30 and silver to $28.525, driven by positive economic indicators in the United States and geopolitical tensions. In contrast, the crypto market is experiencing a sharp fall, with a 25% drop affecting giants like Bitcoin and Ethereum. This situation is prompting investors to turn to gold and silver, seen as safe-haven assets in the face of the increasing volatility of digital assets. The stability and security offered by precious metals seem currently more attractive than the uncertain promises of cryptos, thus reinforcing their status as refuges during economic uncertainty.</p>
<p><em>That’s the main takeaway for this week. But if you’d like a more detailed summary and in-depth analyses directly in your inbox, don’t hesitate <a href="https://newsletter-fr.cointribune.com/s/news-tribune-weekly" target="_blank" rel="noopener noreferrer nofollow">to subscribe to our weekly newsletter.</a></em></p>

Bitcoin, Binance, Ethereum, Solana and Ripple: The biggest crypto news of the past week

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