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Ethereum (ETH) trades at $3,821 today, July 30, with a 53% gain in one month. Ethereum price gains in July have been due to multiple factors like altcoin season chatter and demand from institutions. However, a new bullish factor, DeFi resurgence, has entered the picture, and it might not only help ETH reclaim $4,000 but
The post Ethereum Price Prediction- Bulls Target $5,400 Amid DeFi Revival and Soaring TVL appeared first on CoinGape.
Magfi, a SaaS platform that leverages machine learning and AI to streamline advertising across Telegram and Discord, has secured $1.1…
The long-standing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs could face another potential delay.
This possibility looms as both parties have yet to refile their motion correctly, with the June 16 deadline quickly approaching.
On May 8, BeInCrypto reported that the SEC and Ripple jointly requested an indicative ruling from Judge Torres to approve a settlement that would reduce the penalty to $50 million and dissolve the injunction placed on Ripple.
On May 15, Judge Analisa Torres rejected the parties’ request. She stated that if jurisdiction were returned to the court, she would deny the motion because it was procedurally improper.
Essentially, the parties did not follow the correct legal process when requesting, which led to the denial. Therefore, it meant that both Ripple and the SEC needed to refile under the appropriate rule.
However, as of June 5, 2025, the parties haven’t refiled. This has raised concerns about the next steps in the case. Attorney Fred Rispoli highlighted the absence of a proper refiling in a recent post on X (formerly Twitter).
He emphasized that on June 16, both parties must submit a status update to the United States Court of Appeals for the Second Circuit.
“20 days later, no refile yet by SEC and Ripple in district court, and the June 16 deadline for the status update in the 2nd Circuit looms large,” Rispoli posted.
The June 16 deadline holds significant weight, as it will determine the next steps in the case. Rispoli noted that if nothing is refiled, the Second Circuit will only have the denial of the first motion to work with. This could restart the briefing schedule.
Alternatively, if a motion is pending before Judge Torres at the time of the status update, the Second Circuit will likely extend the process by an additional 60 days.
“The next step? The message by Torres was clear that both parties need to beg for forgiveness. Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do? And how much groveling will be authorized? We have 12 days to find out,” Rispoli added.
Notably, as the deadline draws near, rumors have begun circulating that Ripple, the SEC, and Judge Torres may have already reached a settlement agreement.
“Rumors swirling. Hearing SEC, Ripple & Judge Torres have finally reached an agreement. Word is Ripple came out on top,” a user stated.
The user added that an announcement could come as early as Friday, June 13. However, he cautioned that the news remains unverified. Additionally, the associated parties have not provided any official confirmation.
Meanwhile, amid the uncertainty, XRP’s price has also taken a hit. BeInCrypto data showed that over the past week, the altcoin’s value has seen an 8.8% decline.
At the time of writing, XRP’s trading price was $2.19, representing a 2.36% drop over the past 24 hours.
The post Ripple and SEC Risk Restarting Critical Settlement Process if June 16 Deadline is Missed appeared first on BeInCrypto.
Dego Finance (DEGO) price took to a free fall amid community FUD (fear, uncertainty, and doubt) following an announcement on Wednesday, June 4.
The announcement involved USD1 stablecoin, launched by the Trump family’s World Liberty Financial.
The DEGO price, the native token of Dego Finance, dropped nearly 60% following the project’s announcement that it would support USD1, a stablecoin by World Liberty Financial (WLFI), as part of a new liquidity initiative on the BNB Chain.
“We’re officially purchasing $USD1 World Liberty Financial as a liquidity reserve and supporting the liquidity program launched by World Liberty Financial (WLFI) on BNB Chain. This move reflects our commitment to building a stronger DeFi ecosystem — and exploring deeper collaborations with USD1 as we assemble the decentralized LEGO of Web3,” read the announcement.
The team framed the move as a strategic step to strengthen DeFi infrastructure. Notwithstanding, the market reaction was swift and brutal.
DEGO’s price collapsed, and the Relative Strength Index (RSI), a momentum indicator, dropped to oversold territory.
This drop suggests fear and confusion among holders. Some community members supported the rationale behind the decision, but acknowledged why the move was concerning.
“Team adding liquidity of DEGO on USD1 allows users to trade DEGO with a stablecoin, improving market access and price stability… by chance this liquidity creates FUD,” one user noted.
In crypto, adding liquidity typically means providing a pool of assets, such as DEGO paired with USD1 to a decentralized exchange (DEX) to facilitate trading.
This should make it easier for users to buy and sell DEGO without relying solely on other volatile cryptos, potentially stabilizing its price. However, several factors likely contributed to the FUD.
Among them is that more than half of USD1’s liquidity on PancakeSwap DEX comes from just three wallets, raising questions about “real demand.” BeInCrypto reported that three wallets hold 93% of its market cap.
If USD1 itself lacks organic usage and is propped up by a few large players (likely market makers or the team behind it), this could create skepticism among DEGO investors.
Therefore, investors might worry that the liquidity pool for DEGO/USD1 is artificial or manipulated. Such concerns could lead to uncertainty about the true value of DEGO.
The market perceives that USD1 is not widely adopted or trusted, making pairing DEGO with it a risky or questionable move, hence the FUD.
Against this backdrop, there are concerns that DEGO may be a scam project, highlighting growing distrust among certain retail investors.
Addressing community fears, Dego Finance released an official statement on Thursday, June 5, following a sharp selloff to calm investor nerves.
“We’re aware of the recent price volatility following the announcement on June 4th, which has understandably caused concern across the community. First and foremost, we want to emphasize: there have been no changes to DEGO’s fundamentals, tokenomics, or long-term vision,” Dego Finance explained.
The team attributed the price drop to short-term market sentiment rather than any underlying flaw in the project.
“The sell-off appears to be driven by short-term market reactions, and we are actively reviewing both on-chain data and external factors to ensure transparency,” the team explained.
Dego Finance committed to working closely with “key partners and exchanges to maintain stability.” The project also emphasized that its long-term mission remains intact: to build a resilient, decentralized incubator driving innovation in DeFi, AI, and Meme culture.
The company also promised upcoming updates and developments, urging the community to stay engaged as more information becomes available.
Meanwhile, it is worth noting that this is not the first time DEGO has suffered a steep price crash. In 2021, the token fell by 51% in just three minutes after being listed on Binance Launchpool. Reportedly, the cause of that drop remains unclear to this day.
The latest market reaction reflects a lingering fragility in investor confidence, with DEGO token trading for $1.26 as of this writing.
The post Dego Finance Crashes 60% as USD1 Liquidity Initiative Sparks FUD appeared first on BeInCrypto.