Judge Analisa Torres Denies Ripple and SEC’s Motion for an Indicative Ruling: What Next for XRP?

Monicah W

Is the Ripple SEC Lawsuit Over Pro-XRP Lawyer Says Not Yet

The post Judge Analisa Torres Denies Ripple and SEC’s Motion for an Indicative Ruling: What Next for XRP? appeared first on Coinpedia Fintech News

  • The recent developments keep the SEC vs Ripple case on track for possible appeals.
  • XRP price is well positioned to retest its all-time high in the near future catalyzed by rising demand from institutional investors.

Judge Analisa Torres of the Southern District of New York denied Ripple Labs and the United States Securities and Exchange Commission (SEC) motion for an indicative ruling. Both the SEC and Ripple had sought the court’s guidance on whether the July 2023 summary judgment ruling could be reconsidered.

The parties wanted the court to consider the recent Coinbase ruling, which clarified the application of the Howey test in regard to XRP sales. However, Judge Torres rejected the motion for an indicative ruling, stating that both parties failed to show how the Coinbase ruling would ultimately alter the case trajectory. 

According to Fred Rispoli, a trial lawyer focused on the cryptocurrency market, both the SEC and Ripple ought to file a detailed motion to convince Judge Torres why the case should be ultimately dropped.

Impact of Judge Torres’s Decision on Ripple vs SEC on the XRP Market

As Coinpedia has regularly pointed out in the past few months, XRP price confirmed a macro bullish breakout and is en route to price discovery in the coming months. The large-cap altcoin, with a fully diluted valuation of about $242 billion and a 24-hour average traded volume of about $4.8 billion, recently rebounded from the support level of around $2 to trade about $2.43 on Thursday, May 15, during the late North American trading session.

In the four-hour timeframe, the XRP price has been trapped in a short-term correction mode, which was exacerbated by the Judge Torres ruling. As of this writing, XRP price had dropped about 5.1 percent in the past 24 hours, thus likely to drop further to retest the support level at about $2.35.

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Pi Network Launches A $100M VC Fund To Support Real-World Use Cases

Pi Network Launches A $100M VC Fund To Support Real-World Use Cases

Pi Network has its sights on expanding its ecosystem with the latest play involving the launch of a $100M VC fund. The new fund will fund projects and startups advancing real-world utility and adoption of the Pi Network.

Pi Network Launches $100 Million Venture Capital Fund For Ecosystem Expansion

According to a press release, Pi Network has announced a fresh $100 million venture capital (VC) fund to support innovative startups in the ecosystem. Per the statement, the fund will feature assets in both USD and Pi Coins, propping up projects pursuing real-world Pi utility.

The new $100M fund will be disbursed via the Pi Network Ventures, a newly minted entity created by the Pi Foundation. Per the announcement, the Pi Coins forming a portion of the funds stem from the Pi Foundation’s reserves.

Pi Network Ventures will invest in Pi-focused companies in the early stage, including Series B and subsequent rounds. Furthermore, the Pi fund will expand support beyond blockchain-native startups with an eye on AI and e-commerce startups.

“This initiative gives creators the resources they need to build solutions that solve real problems while reinforcing the value of the Pi ecosystem,” said Nicolas Kokkalis.

The announcement comes at the start of Consensus 2025, with the project expected to make a major appearance at the event.

Is This The Widely Anticipated Ecosystem Announcement?

The Pi Core Team (PCT) has previously teased an ecosystem announcement for May 14, leaving community members on edge. While the $100M fund has triggered a wave of excitement, there is speculation that the launch is only the tip of the iceberg.

Community members have their sights on a potential exchange listing for the Pi Network. While chatter of a potential Binance listing continues to percolate, an HTX listing for Pi Network has gathered significant steam.

HTX has dropped a string of hints pointing to a potential listing in its social media posts, stoking waves of optimism. Upbit is another potential exchange listing, given the sheer number of Pi Coin holders in South Korea.

Ahead of the ecosystem announcement, Pi Network price crossed $1, to leapfrog Litecoin (LTC) and Bitcoin Cash (BCH). A listing announcement during the Consensus 2025 event will signal mainstream adoption for in addition to the upside of a potential Pi Coin rally.

The post Pi Network Launches A $100M VC Fund To Support Real-World Use Cases appeared first on CoinGape.

Solana’s Fee Structure Sparks Decentralization Concerns as 1.26% of Users Drive Majority Fees

According to The DeFi Report, over the past month, only 1.26% of Solana’s (SOL) wallet addresses have generated 95% of its total fees. 

This concentration has raised significant concerns about the blockchain’s fee model and its implications for decentralization. 

Solana’s Fee Structure Faces Criticism 

Data from DefiLlama, shows that Solana generated 89.73 million in fees in February. As of March 7, it had generated 8.21 million.

In comparison, Ethereum (ETH) generated 46.28 million in fees in February, with 7.49 million as of March 7.  While these numbers suggest Solana is ahead, Michael Nadeau, the founder of The DeFi Report, claims this comparison may be misleading. 

Although Nadeau acknowledges Solana’s impressive growth, he cautions that it might be less organic than it seems.

“But if you look under the hood, it looks like a house of cards,” he wrote.

solana fee
Solana Vs. Ethereum Fee Generation. Source: X/Michael Nadeau

According to Nadeau, over the past 30 days, 17.31% of addresses have contributed to 95% of the total fees generated on Ethereum. For Solana, the figure is strikingly small, only 1.26%. 

Nadeau added that Wintermute, a prominent market-making firm, is the primary driver behind this fee generation. The rest of the fee is attributed to bots.

He claimed that these wallets drive the network’s activity through practices such as sandwich attacks and pumping meme coins. This often comes at the expense of retail investors. 

For context, a sandwich attack is a front-running strategy in which an attacker exploits large trades. The attacker buys the asset before the large trade, anticipating a price increase, and sells afterward, profiting from the price movement while negatively impacting the original trader.

Nadeau cautioned that the reliance on a small subset of users for fee generation creates vulnerabilities. If retail traders become aware of the extent of bot-driven manipulation, they may withdraw from the ecosystem. This, in turn, could significantly impact Solana’s revenue projections.

“Nothing against Solana. Massive comeback story. But my sense tells me another period of “chewing glass” is yet to come,” he concluded.

Solana’s speed and cost efficiency have made it a favorite among developers and traders. However, this concentration of fees has raised concerns among market analysts.

“When 95% of fees come from 1.26% of users, it’s less “decentralized finance” and more “exclusive finance,” Superchargd co-founder wrote on X.

Another user also warned that Solana may not thrive well as the industry matures and free market forces fully take effect.

“Solana doesn’t have a future; it’s a Ponzi scheme designed for grifting,” he said.

Meanwhile, some questioned SOL’s inclusion in President Trump’s US crypto strategic reserve. 

“Solana is a complete house of cards built on wash trading bots and centralized control,” a user remarked.

He also emphasized that validators profiting from failed transactions and the rise of Solana meme coins have harmed the space.

The criticism comes just after financial giant Franklin Templeton predicted in a report that Solana’s DeFi ecosystem could rival—and even surpass—Ethereum’s market valuation. The firm highlighted Solana’s scalability, low fees, and surging user activity as key factors driving its potential.

Amid the mounting criticism, Solana faces a pivotal moment. While its technological advancements and cost-efficiency have earned it a loyal following, its centralized fee-generation model and reliance on market manipulation tactics could pose significant risks to its future. How Solana adapts to these concerns will determine whether it can sustain its growth or struggle to maintain relevance.

The post Solana’s Fee Structure Sparks Decentralization Concerns as 1.26% of Users Drive Majority Fees appeared first on BeInCrypto.

Bitcoin Pizza Day Meets Trump Dinner: HTX Unveils One Million USDT in Rewards!

HTX, a leading global cryptocurrency exchange, is leading the charge in a unique dual celebration on May 22,  as Bitcoin Pizza Day coincides with the Trump Dinner.

This moment, where history meets the present, is drawing global attention. In celebration of this special occasion, HTX has proudly partnered with diamond sponsors JUST Protocol, SunPump, APENFT, BitTorrent, and WINkLink, alongside platinum sponsors Levva and ChainGPT, to launch a series of Pizza Day-themed promotions across multiple business lines, including Spot, Futures, Earn, and Community, boasting a total prize pool of nearly 1 million USDT. Whether you’re a new or existing HTX user, you’ll discover exclusive opportunities and exciting benefits throughout these events.

Event 1: HTX Pizza Day Celebration: 200,000 USDT in Surprise Gifts with Seven Project Partners

Get ready for Pizza Fest! From May 13 to May 26, HTX is joining forces with seven esteemed partner projects—SunPump, APENFT, JUST Protocol, WINkLink, BitTorrent, Steem, and MEVerse—to deliver a 14-day Pizza Day Celebration packed with over 200,000 USDT in Surprise Gifts. During the event, users can claim daily gifts on the HTX App, distributed at 02:00 (UTC) daily. On May 22 at 12:00 (UTC), Bitcoin Pizza Day, HTX will drop even more Surprise Gifts featuring bigger rewards, distributed in the form of tokens, Cashback Vouchers, Futures Trial Bonuses, Margin Interest Vouchers, and APY Booster Coupons.

* View details

Event 2: Join the Pizza Day Celebration to Discover Four Amazing Benefits and Grab Your Share of $200,000

From May 20 at 10:00 (UTC) to May 25 at 10:00 (UTC), HTX invites both new and existing users to join the four-tiered rewards event and share a total prize pool of up to $200,000. See below for details:

1. New users who sign up and complete any spot, futures, or margin trade during the event will receive a welcome package that includes a 20 DOGE airdrop, APY Booster Coupons for SmartEarn, and Margin Interest Vouchers.

2. Users will receive 15 USDT for their first successful referral. By inviting more friends, they’ll unlock Mystery Boxes worth up to 1,500 USDT each, containing popular cryptos like $BTC, $TRUMP, and $HTX. Additionally, they can earn up to another 1,500 USDT when their invitees reach the trading volume target.

3. Eligible returning users who complete spot trading on HTX will have a chance to win BTC in a lucky draw. Additionally, after funding their USDT-M Futures account, they can earn APY Booster Coupons for SmartEarn.

4. Users who trade designated cryptos in spot or futures, or create spot grid trading strategies, will have a chance to share $30,000 in $HTX.

* View details

Event 3: Take the BTC Pizza Day Quiz at HTX Square and Win Your Share of 200 USDT

From May 16 at 02:00 (UTC) to May 23 at 15:59 (UTC), HTX Square is launching a quiz challenge where users can win rewards. Participants who follow HTX Square in the HTX Community and answer all the quiz questions correctly will have the opportunity to share the 200 USDT prize pool.

* View details

Event 4: HTX Earn Bonanza for BTC Pizza Day: Enjoy Up to 10% APY on Popular Assets

Celebrate Bitcoin Pizza Day with the HTX Earn Bonanza from 16:00:00 (UTC) on May 19 to 16:00:00 (UTC) on May 25. HTX is launching this special campaign featuring Earn products for both new and existing users. First-time subscribers at HTX Earn can enjoy New User Exclusive products with 100% APY. All users can subscribe to Fixed, Flexible, and Shark Fin products with 14 designated cryptocurrencies, including USDT, and earn up to 10% APY on HTX Earn. Additionally, participants who meet the net subscription increase requirement will each receive a 5% APY Booster Coupon for the USDT Flexible product.

* View details

Event 5: HTX Affiliates Pizza Day Special: Team Up & Trade with Your Invitees to Win a Full Case of Kweichow Moutai

Celebrate Bitcoin Pizza Day with the limited-time HTX Affiliates Special Event, running from 10:00 (UTC) on May 20 to 10:00 (UTC) on May 25. HTX Affiliates can refer friends to sign up using an exclusive invitation link or code and form a trading team with invitees. Once the team reaches the required trading volume, rewards will be unlocked. The top prize is a 6-bottle case of Kweichow Moutai Flying Fairy.

* View details

Event 6: HTX Convert Contest Now Live with 10,000 USDT Up for Grabs

Don’t miss the HTX Convert Contest! It runs from 16:00:00 (UTC) on May 14 to 15:59:59 (UTC) on May 31. Trade designated cryptos on HTX Convert and reach a total trading volume of ≥500 USDT during the event to qualify for a share of the 5,000 USDT prize pool, with the top individual reward of up to 1,000 USDT. Complete 10 or more trades to unlock an additional prize pool — the more trades made, the bigger the share. Additionally, first-time converters on HTX Convert can also join an exclusive 2,000 USDT prize pool for new users, with up to 20 USDT per person available.

* View details

May 22 isn’t just about commemorating Bitcoin’s first “real-world transaction”; it is also a day for the global crypto community to celebrate the growth of the crypto industry and to share in its rewards. To honor this special day, HTX is launching a multifaceted celebration featuring diverse events that boost user engagement, elevate the festive atmosphere, and fully showcase the platform’s dynamic ecosystem.

Pizza’s on the table and the party’s heating up. Join HTX today and experience the biggest crypto event of the year!

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord.

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