Author: Monicah W

After being denied by US District Judge Analisa Torres last month, Ripple and the SEC filed another motion to finally end their landmark legal battle. The two parties are again trying to relitigate Ripple’s right to sell securities.

However, legal commentators called this effort a “rare whiff” from Ripple’s legal team and do not believe it will work. If the court denies again, the company may need to accept its ban on selling securities for the time being, at least to retail investors.

Ripple and SEC Saga Continues

The SEC vs Ripple case, a landmark enforcement action of the Gensler era, has been dragging on for a while now. Despite the Commission dropping its suit in March, remaining loose ends have kept the two parties returning to court.

Today, they returned before Judge Torres, once again attempting to wrap up the last disputes.

Judge Torres rejected Ripple’s last joint filing with the SEC in May, causing the two parties to scramble to meet a June 16 deadline.

Their proposed deal cites a few “exceptional circumstances,” such as the SEC’s total shift on crypto policy, as sufficient justification to change a prior ruling.

The issue is whether the SEC should ban Ripple from selling securities under Gary Gensler. Simply put, the current Commission would like to reverse this decision. Large fees are also in the mix, but they’re a secondary concern.

Still, Fred Rispoli, a trial lawyer specializing in crypto cases, expressed skepticism with the move, considering the proposal sloppy:

“I don’t like this filing based on how obvious it was from Judge Torres’ last ruling that she was pissed. I recommended a long, detailed motion explaining the SEC’s failures in crypto regulation (with Commissioner declarations) and some apologies from Ripple for what it got tagged on. Instead, we got one paragraph on the other SEC dismissals and a paltry mention of the SEC Crypto Task Force. Oof,” Rispoli stated.

Legal experts on social media think this filing doesn’t make substantial changes in legal citations from the last attempt, and they believe Torres will reject this one, too.

However, in all likelihood, Judge Torres has the legal grounds to recognize the SEC’s renewed direction and accept this motion to dismiss the lawsuit.

So, June 16 remains the key date. If this motion doesn’t persuade the Judge, Ripple will have to wait until 2026 for another chance at dismissal.

At a certain point, even if both institutions wish to permit non-institutional securities sales, the choice may be out of their hands. Ripple may need to start seriously preparing for a future where it cannot reverse this ruling, period.

The post SEC and Ripple Files Another Request to Reverse Securities Ruling appeared first on BeInCrypto.

Ethereum (ETH) is showing mixed signals as it hovers near a critical technical zone, with traders closely watching for a breakout or breakdown. On one hand, the BBTrend has flipped sharply bullish, jumping to 4.99 after hitting -3 just a day earlier—suggesting growing upside momentum.

On the other hand, whale activity continues to decline for the seventh consecutive day, a potential sign of weakening institutional confidence. With ETH stuck between strong resistance at $2,900 and key support at $2,679, the next move could define the short-term market direction.

Ethereum BBTrend Flips Bullish: What 4.99 Means for Price Action

Ethereum’s BBTrend has surged to 4.99, rising sharply in the past few hours after hitting a negative peak of -3 just yesterday.

This sudden momentum shift suggests a potential reversal from bearish to bullish conditions, as the trend strength has turned positive and is now approaching the upper threshold that typically signals a breakout scenario.

BBTrend, or Bollinger Band Trend, measures the directional strength of price movement relative to the Bollinger Bands. Values above 0 indicate upward momentum, while values below 0 suggest bearish pressure.

A reading around 4.99 indicates strong bullish momentum. If this trend holds or strengthens, it could signal further upside for ETH as traders interpret the move as a shift in market sentiment and positioning.

ETH Whale Count Declines for 7 Straight Days: Bearish Signal Ahead?

The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—has steadily declined to 5,378, down from 5,427 just ten days ago and 5,400 three days ago.

This marks seven consecutive days of decline, which may reflect cautious behavior among large holders, despite Ethereum futures open interest recently hitting an all-time high.

These whales often gauge institutional or high-net-worth investor sentiment, and sustained reductions in their numbers typically indicate either profit-taking, risk reduction, or decreased confidence in near-term price action.

Tracking whale activity is crucial because these large addresses have the power to influence market trends through their trades. When whale counts increase, it’s often interpreted as accumulation, which can signal strong conviction in future price growth.

Conversely, a consistent decline—like what we’re seeing now—suggests that major holders may be offloading positions or refraining from buying.

This behavior can weaken price support and lead to increased volatility. If the downtrend in whale count continues, it could place downward pressure on ETH and increase the risk of a broader market pullback.

Ethereum Approaches Critical Support as $2,900 Resistance Holds

Ethereum recently failed to break through the resistance near $2,900 and is now trending lower, approaching a key support level at $2,679. If this support is tested and fails to hold, the next downside targets are $2,479 and potentially $2,326, especially if bearish momentum accelerates.

These levels are critical, as a confirmed break below them would indicate a shift in short-term market structure and could trigger further selling pressure.

With whale activity declining and market sentiment appearing cautious, Ethereum is now at a technical crossroads.

On the flip side, the BBTrend indicator has shown a strong bullish reversal, suggesting buying pressure may be building. If Ethereum regains momentum and successfully retests and breaks the $2,900 resistance, it could open the door for a rally toward $3,000—a level not seen since February 1.

Such a move would likely reinforce bullish sentiment and attract renewed interest from sidelined traders.

However, for that scenario to play out, bulls must first reclaim lost ground and flip $2,900 into a solid support zone.

The post Ethereum Price Faces Risk as Whale Activity Continues to Decline appeared first on BeInCrypto.

Earlier today, Israel launched a ‘pre-emptive strike’ on Tehran and declared a state of emergency. This rapid escalation of the conflict drove the crypto market into a freefall.

Over the past 24 hours, total liquidations amounted to $1.15 billion. Additionally, the overall market is down by 6.6%.

Crypto Market Plunges Amid Israel-Iran Conflict

According to CNN, Israel’s strikes targeted Iran’s nuclear program and missile capabilities, affecting dozens of locations. The attack reportedly eliminated Iran’s top military leaders and senior nuclear scientists. It was confirmed that General Hossein Salami, the Commander-in-Chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), was killed. 

“Iran’s state television says Deputy Commander in Chief of all Armed Forces, General Gholam Ali Rashid, has been killed, along with nuclear scientist Fereydoon Abbasi,” The Kobeissi Letter posted.

To prepare for potential retaliation, Israel has declared a state of emergency, closing schools, banning gatherings, and mobilizing tens of thousands of soldiers.

Furthermore, Iran is preparing a ‘lethal‘ response against Israel following the attacks. It has already appointed General Vahidi, the former head of the Quds Force, as the new commander of the IRGC.

Admiral Habibollah Sayyari has succeeded the late General Bagheri as the acting Commander-in-Chief of the Armed Forces of the Islamic Republic of Iran.

The rising tension between the two nations has caused significant turbulence in the market. Dow Jones Industrial Average futures fell by 1.3%, S&P 500 futures dropped 1.4%, and Nasdaq 100 futures plunged by 1.6%.

Meanwhile, the crypto market wasn’t spared. Earlier on Thursday, BeInCrypto reported that any escalation in the Iran-Israel conflict would significantly impact the crypto market due to FUD. This materialized as the latest data showed that the crypto market depreciated by 6.6%.

Nine of the top ten coins saw losses over the past day. Bitcoin (BTC) nosedived from over $108,000 to $104,112. However, altcoins suffered the harshest blow. 

Solana (SOL) lost nearly 10% over the past day. Ethereum (ETH) trailed closely with a 9.3% downtick. Among the top 100 coins, Fartcoin (FARTCOIN) and Ethena (ENA) stood out for double-digit losses of 17.3% and 15.9%, respectively. 

These declines forced 247,769 traders out of their positions over the past 24 hours. According to Coinglass data, $1.15 billion has been liquidated from the crypto market.

Bitcoin faced $427.75 million in long and $19.10 million in short liquidations. Ethereum followed with $244.74 million in long liquidations and $43.57 million in short liquidations, highlighting the scale of market turmoil. 

Nonetheless, the conflict drove oil and gold up. Oil prices spiked by more than 10%. U.S. West Texas Intermediate rose to $74.99 per barrel, marking a 10.21% uptick.

The global benchmark Brent increased by 10.28% to $76.48 per barrel. Gold also gained 1.2% to reach $3,426.

Analysts Divided Over Israel-Iran Conflict’s Impact on Crypto

As Iran prepares for retaliatory actions, it’s clear that the impact will be felt across markets. Amid this volatility, the cryptocurrency market, particularly Bitcoin, has become a focal point of debate among analysts. 

Opinions are sharply divided on its role as a “digital gold” during geopolitical crises. Veteran economist Peter Schiff argued that Bitcoin’s price drop contrasts starkly with gold’s rise as investors sought safe havens. 

“Bitcoin’s failure to rise against gold—despite over 3.5 years of hype, including a dozen ETFs, Super Bowl ads, El Salvador, NFTs, tens of billions of leveraged buying by MSTR, other Bitcoin treasury companies, the election of a Bitcoin president, and the establishment of a Bitcoin Strategic Reserve—is strong evidence that the bubble has peaked,” Schiff said.

Another analyst echoed his view, claiming that Bitcoin is not a safe haven but more akin to a tech stock.

“It is important to understand that Bitcoin shows its true colors as Israel attacks Iran. It is not an alternative-currency, it is not a safe haven, it is a risk asset, just like another tech stock, that will decline when the market goes to a risk-off posture,” the post read.

However, crypto advocate Anthony Pompliano maintained an optimistic outlook. Drawing parallels to an earlier incident when Iran launched 300 missiles at Israel, Pompliano noted that Bitcoin rebounded to outperform both oil and gold.

“Bitcoin ended up outperforming the other two over the first 48 hours in that situation. Will be interesting to see what happens here,” Pompliano stated.

Moreover, a recent BlackRock report revealed that while Bitcoin may underperform in the short term during geopolitical shocks, it has historically rallied double digits within 60 days post-crisis, outpacing gold and equities. 

Despite immediate market jitters, this suggests a longer-term bullish outlook for the cryptocurrency. Still, the divide reflects broader uncertainties about Bitcoin’s maturity as an asset, with gold’s millennia-long stability pitted against Bitcoin’s 16-year track record. As markets stabilize, analysts will closely monitor price movements, with some betting on Bitcoin’s recovery and others clinging to gold’s proven reliability.

The post Crypto Market Loses Over $1 Billion as Israel Attacks Iran appeared first on BeInCrypto.

SharpLink Gaming’s shares nosedived by 70%, driven by widespread confusion over regulatory filings tied to its $425 million Ethereum treasury strategy. The sharp drop, rather than the treasury move itself, dominated financial discussions and left investors scrambling to understand the fallout.

As speculation spread about the causes behind the plunge, SharpLink chairman Joseph Lubin offered some clarifications.

Misreading Filing Triggers Historic 70% Drop

SharpLink Gaming’s historic collapse caught markets off guard. While the company’s plan to make Ethereum its core treasury asset was already public knowledge, it was a regulatory S-3ASR filing that caused confusion. Many investors mistakenly believed this filing signified insider selling, not realizing it was a standard procedure following a private placement.

“The first Ethereum ‘Treasury company’ $SBET falls -75% after hours,” FinanceLancelot posted

The SEC S-3 filing involved is routine in such transactions, registering shares for potential resale but unrelated to immediate insider sales. The misunderstanding triggered panic, causing shares to tumble by more than two-thirds in a matter of hours.

SharpLink had previously made headlines with its $425 million private placement, making it the first NASDAQ-listed firm to publicly hold Ethereum as a primary reserve asset. This move set SharpLink apart from bitcoin-focused peers, sparking intense debate and rapid trading activity, but it was the misinterpretation of the latest filing—not the Ethereum strategy itself—that proved most consequential for its stock price.

The scale of the Ethereum treasury and the departure from typical Bitcoin positioning had added to market buzz, but investor reactions were ultimately shaped by regulatory misunderstanding rather than the underlying financial strategy.

Joseph Lubin Steps In to Steady the Market

Recognizing the confusion and panic gripping the market, Joseph Lubin appeared on social media to offer much-needed clarification. He stressed that neither he nor Consensys had sold any shares and explained the true purpose behind the S-3 filing, emphasizing its hypothetical and routine nature following private placements.

“Some are misinterpreting SBET’s S-3 filing: It registers shares for potential resale by prior investors. The “Shares Owned After the Offering” column is hypothetical, assuming full sale of registered shares. This is standard post-PIPE procedure in tradfi, not an indication of actual sales. To clarify, neither Consensys nor I have sold any shares,” Joseph Lubin posted

Lubin’s intervention brought greater understanding to a panicked market and underscored the need for improved financial literacy around standard regulatory protocols, especially as the worlds of crypto and traditional finance intersect. However, the positive impacts are yet to be reflected in SharpLink Gaming’s stock prices.

The post SharpLink Gaming Shares Plunge 70%, Chairman Joseph Lubin Offers Clarification appeared first on BeInCrypto.