World

Liberty

Bitcoin

<p class="is-style-lead">The U.S. SEC apologizes for its “crypto assets securities” tag in the Binance case; Bitcoin ETFs recover lost capital; Harris gains on Trump; MicroStrategy expands its stash; Grayscale launches XRP Trust.</p>
<h2 class="wp-block-heading" id="sec-s-indecision">SEC’s indecision&nbsp;</h2>
<ul class="wp-block-list">
 <li>Last week, the U.S. SEC <a href="https://crypto.news/sec-backtracks-on-crypto-asset-securities-claim-in-binance-suit/" target="_blank" rel="noopener noreferrer nofollow">submitted</a> an amended complaint in the Binance lawsuit, apologizing for the confusion caused by its use of the term “crypto asset securities” to classify certain cryptocurrencies in the case.</li>
</ul>
<ul class="wp-block-list">
 <li>Interestingly, this development occurred just a day after the securities regulator <a href="https://crypto.news/etoro-to-cease-all-crypto-trading-except-btc-bch-eth/" target="_blank" rel="noopener noreferrer nofollow">reached</a> an agreement with eToro, requiring the trading platform to restrict its crypto offerings to Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), Bitcoin Cash (<a href="https://crypto.news/price/bitcoin-cash/" target="_blank" rel="noopener noreferrer nofollow">BCH</a>), and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>), while also imposing a $1.5 million fine.</li>
</ul>
<ul class="wp-block-list">
 <li>A report from last week <a rel="noopener noreferrer nofollow" href="https://crypto.news/sec-crypto-fines-spiked-3018-in-one-year/">revealed</a> that SEC fines imposed on crypto companies skyrocketed by 3,018% in the past year. Notably, in 2024 alone, the agency has collected $4.68 billion in fines from crypto firms, accounting for 68% of the total fines since its establishment.</li>
</ul>
<h2 class="wp-block-heading" id="bitcoin-etfs-recovery">Bitcoin ETFs’ recovery</h2>
<ul class="wp-block-list">
 <li>Spot Bitcoin ETFs turned positive last week. The products <a href="https://crypto.news/spot-bitcoin-etfs-end-8-day-outflows-streak-ether-etfs-lose-5-2m/" target="_blank" rel="noopener noreferrer nofollow">witnessed</a> $28.6 million in net inflows on Sept. 9, ending their eight-day losing streak. A day later, they <a href="https://crypto.news/spot-bitcoin-etfs-record-four-fold-inflow-spike-ether-etfs-recover-from-outflows/" target="_blank" rel="noopener noreferrer nofollow">recorded</a> a four-fold increase in inflows, totaling $117 million.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>The investment products saw intraday outflows of $43.9 million on Sept. 11, but <a href="https://crypto.news/spot-bitcoin-etfs-rebound-with-inflows-ether-etfs-extend-outflows/" target="_blank" rel="noopener noreferrer nofollow">rebounded</a> the next day. Overall, spot Bitcoin ETFs witnessed four green days last week, with total cumulative net inflows sitting at $403.9 million.&nbsp;</li>
</ul>
<h2 class="wp-block-heading" id="harris-v-trump">Harris v. Trump</h2>
<ul class="wp-block-list">
 <li>Last week, Polymarket users <a href="https://crypto.news/kamala-harris-favored-as-debate-winner-by-polymarket-users/" target="_blank" rel="noopener noreferrer nofollow">favored</a> Vice President Kamala Harris after her debate with Republican nominee and former President Donald Trump.</li>
</ul>
<ul class="wp-block-list">
 <li>Shortly after the debate, Harris’ election odds were <a href="https://crypto.news/trump-harris-tied-on-polymarket-following-debate/" target="_blank" rel="noopener noreferrer nofollow">tied</a> with Trump’s, but have since shifted. At last check on Sunday, crypto bettors have Harris’ odds at 51% to Trump’s 49%.</li>
</ul>
<h2 class="wp-block-heading" id="trump-to-launch-world-liberty-financial">Trump to launch World Liberty Financial&nbsp;</h2>
<ul class="wp-block-list">
 <li>Trump <a href="https://crypto.news/trump-teases-launch-date-for-crypto-project-to-leave-outdated-banks-behind/" target="_blank" rel="noopener noreferrer nofollow">announced</a> that he will unveil a new crypto project called World Liberty Financial on Monday, Sept. 16 — another victory for Polymarket participants, who <a href="https://polymarket.com/event/will-trump-launch-a-coin-before-the-election?tid=1726315708207" target="_blank" rel="noopener noreferrer nofollow">predicted</a> that the twice-impeached ex-president would launch a coin before Election Day.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>About 70% of the so-called World Liberty Financial token will be <a rel="noopener noreferrer nofollow" href="https://crypto.news/donald-trumps-world-libertyfi-full-red-flags-experts/">available</a> only to “insiders,” including Trump.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>That “raises alarms,” Adam O’Neill, Chief Marketing Officer at Bitrue, <a rel="noopener noreferrer nofollow" href="https://crypto.news/experts-weigh-in-on-the-trumps-world-liberty-financial/">says</a>. “It feels more like an attempt to cash in on hype rather than a serious venture into the crypto world.”</li>
</ul>
<h2 class="wp-block-heading" id="microstrategy-buys-additional-btc">MicroStrategy buys additional BTC</h2>
<ul class="wp-block-list">
 <li>Business intelligence company MicroStrategy <a href="https://crypto.news/microstrategy-buys-additional-18300-btc-for-more-than-1b/" target="_blank" rel="noopener noreferrer nofollow">added</a> to its Bitcoin stash last week. The company’s Chairman Michael Saylor announced an acquisition of 18,300 BTC for $1.11 billion.</li>
</ul>
<ul class="wp-block-list">
 <li>This purchase brought MicroStrategy’s Bitcoin holdings to 244,800 tokens procured with about $9.45 billion. With the assets now worth $14.725 billion, MicroStrategy currently boasts a profit of $5.27 billion on its Bitcoin bet.</li>
</ul>
<h2 class="wp-block-heading" id="grayscale-launches-xrp-trust">Grayscale launches XRP Trust</h2>
<ul class="wp-block-list">
 <li>A month after the final ruling in the Ripple vs. SEC lawsuit, Grayscale Investments <a href="https://crypto.news/grayscale-launches-xrp-trust-is-an-xrp-etf-next/" target="_blank" rel="noopener noreferrer nofollow">launched</a> its Ripple (<a href="https://crypto.news/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a>) fund, with an aim to grant accredited investors exposure to XRP.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>The launch of the trust was the first of four phases an investment product would go through before being a full-fledged ETF.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>Notably, Grayscale took the same steps for its Bitcoin and Ethereum ETFs.</li>
</ul>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/new-charges-new-problems-will-tether-survive-them/"> New charges — new problems: Will Tether survive them? </a></p>

Bitcoin ETFs recover, MicroStrategy buys more BTC, XRP Trust launched | Weekly Recap

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