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Kraken’s Major Questions Defense Dismissed in SEC Legal Battle

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The legal battle between the US Securities and Exchange Commission (SEC) and crypto exchange Kraken took a major turn on January 24, 2025. 

In a setback for Kraken, a California federal judge has ruled partly in favor of the SEC.

Kraken’s ‘Major Questions’ Defense Rejected in SEC Lawsuit

The judge allowed Kraken’s “fair notice” and “due process” defenses to proceed but dismissed its “major questions doctrine” defense.

The SEC sued Kraken, accusing it of offering unregistered securities through its exchange services. Kraken raised eighteen defenses in response. The SEC sought to dismiss several of them, including the “major questions doctrine” defense. 

This defense argues that government agencies can’t regulate large sectors of the economy unless Congress has given them specific authority. Kraken claimed the SEC did not have clear authority over cryptocurrencies. 

However, Judge William Orrick disagreed. He ruled that while cryptocurrency is growing, it doesn’t have the same economic impact as areas like energy or student loans. He also said the SEC’s actions were based on established securities laws, not an expansion of authority.

“The SEC is not asserting a “transformative expansion in its regulatory authority” or a “highly consequential power beyond what Congress could reasonably be understood to have granted it,” the court noted.

Nevertheless, Kraken’s “fair notice” defense remains intact. The crypto exchange argues it was not clearly told that its actions violated the law. It claims it didn’t know that certain digital assets on its platform could be considered “investment contracts” under the Howey test, a Supreme Court ruling that defines securities.

Judge Orrick agreed that Kraken had a plausible argument and allowed this defense to proceed.

“I have already determined that the major questions doctrine is not implicated in this case, at least under the current facts, and GRANT the motion to dismiss it. But Kraken is entitled to proceed with the other two defenses, which are plausibly alleged,” the judge wrote.

This ruling is a key moment in the ongoing regulatory scrutiny of the crypto industry, especially as companies like Coinbase and Binance are also fighting the SEC’s authority over crypto assets. The SEC’s attempt to apply traditional securities laws to cryptocurrencies has faced legal challenges.

The SEC first sued Kraken in November 2023 for operating as an unregistered securities exchange, broker, dealer, and clearing agency. According to the SEC’s complaint, Kraken has made hundreds of millions of dollars unlawfully facilitating the buying and selling of “crypto asset securities,” since September 2018.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top 5 Cryptos Smart Money Wallets Are Buying For March

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Smart Money Wallets are actively accumulating five promising cryptos: AI Rig Complex (ARC), Toly’s Minutes (TOLY), Euler (EUL), OX Coin (OX), and Solana Social Explorer (SSE). ARC leads the pack with over $900,000 in netflow, signaling renewed interest in AI coins, while TOLY has attracted $665,000.

EUL is seeing renewed investor confidence with $232,000 in netflow despite a recent sharp correction, and OX is gaining traction with $182,000 as it pioneers meme-based perpetual trading. SSE rounds out the list with $150,000 in accumulation.

AI Rig Complex (ARC)

Smart Money Wallets have accumulated a netflow of over $900,000 worth of ARC in the last seven days, sparking speculation about a potential rebound in artificial intelligence coins.

This buying activity suggests growing confidence among influential investors, possibly signaling a shift in sentiment towards the AI sector.

Despite this accumulation, ARC remains down nearly 30% in the last 30 days.

ARC Price Analysis.
ARC Price Analysis. Source: TradingView.

With a market cap of $228 million, ARC is currently one of the largest AI coins in the market. It faces strong resistance at $0.288, and breaking this level could trigger a rally towards $0.45.

However, if the current correction continues, ARC could test the support at $0.178, and if that level fails, it could drop further to $0.14.

toly’s minutes (TOLY)

Toly’s Minutes (TOLY) is a token linked to the SocialFi platform time.fun, which operates on the Solana blockchain. Developed by Toly, a co-founder of Solana, the platform introduces a unique concept of tokenizing time, allowing creators to monetize their interactions with fans.

Through time.fun, creators can sell their time as tradable tokens, enabling fans to purchase minutes for activities like consultations, group chats, and live streams.

TOLY Price Analysis.
TOLY Price Analysis. Source: TradingView.

In the last seven days, Smart Money Wallets have accumulated nearly $665,000 worth of TOLY.

If the hype continues, TOLY could test a resistance at $103, and breaking that level could trigger a rally toward $134. Conversely, if momentum fades, TOLY could drop to $58, and if that support is lost, it could decline further to $34.

Euler (EUL)

The Euler (EUL) token is a core component of the Euler v2 modular lending platform, which seeks to transform decentralized finance (DeFi) by offering a flexible and scalable ecosystem for lending and borrowing.

By enabling a more efficient and customizable DeFi experience, Euler aims to set new standards for decentralized lending markets.

EUL Price Analysis.
EUL Price Analysis. Source: TradingView.

Despite experiencing a sharp correction of 25% in less than two days, Smart Money Wallets accumulated a netflow of $232,000 worth of EUL in the last seven days, signaling renewed investor confidence. If EUL can recover from its recent crash, it could rise to test resistance levels at $5.71 or even $5.98.

Conversely, if another correction occurs, EUL could test support at $4.71 or $4.37, and if these levels fail, it could decline further to $3.94. These support and resistance levels will be key in determining EUL’s next directional move.

OX Coin (OX)

The OX Coin (OX) is designed to power next-generation perpetual trading, with a special emphasis on meme coins. It operates on the OX.FUN platform, enabling users to trade with unique features such as earning 100% APR on meme deposits and participating in community-driven competitions with a $20,000 prize pool.

The platform aims to provide a fun and engaging trading experience by allowing users to deposit memes for trading at competitive margin rates.

OX Price Analysis.
OX Price Analysis. Source: TradingView.

Despite being down 55% in the last seven days, some Smart Money Wallets are accumulating OX, with a netflow of $182,000 recorded on the Base chain.

If OX can recover from the recent correction, it could test resistance at $0.01 and potentially rise to $0.015. Conversely, if the correction continues, OX could drop to $0.0031.

Solana Social Explorer (SSE)

SSE is designed to enhance the trading experience for memecoins within the Solana network, supporting a broader initiative led by the platform’s Meme Research Institute.

This initiative focuses on curating high-quality memecoins by analyzing on-chain data and project backgrounds.

SSE Price Analysis.
SSE Price Analysis. Source: TradingView.

In the last seven days, Smart Money Wallets accumulated nearly $150,000 worth of SSE, signaling growing interest among influential investors. If this accumulation drives a bullish trend, SSE could test the resistance at $0.034.

Conversely, if the price faces a downturn, SSE could test the support at $0.016. If that level is lost, it could decline further to $0.0086.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Berachain (BERA) Rises 7% – Will the Rally Continue?

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Berachain (BERA) is up roughly 7% in the last 24 hours, pushing its market cap above $900 million. The recent price surge is supported by strong technical indicators, with RSI approaching overbought levels and DMI showing buyers firmly in control.

If the current uptrend continues, BERA could retest levels above $8.5 and possibly challenge resistance at $9. However, if momentum fades, key support levels at $6.18 and $5.48 could be tested, determining the next directional move.

Berachain RSI Is Close to 70

Berachain’s RSI is currently at 61.97, rising from 35.9 just three days ago after staying neutral for eight days. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

An RSI above 70 indicates overbought conditions, suggesting a potential pullback, while an RSI below 30 signals oversold conditions, indicating a possible rebound. An RSI between 30 and 70 is generally considered neutral, reflecting no strong directional bias.

BERA RSI.
BERA RSI. Source: TradingView.

With Berachain’s RSI at 61.97, the price is approaching the overbought threshold but remains in neutral territory for now. This increase suggests growing bullish momentum and buying interest, indicating that BERA could continue to rise if the RSI moves closer to 70.

However, if the RSI crosses into overbought territory, a short-term pullback or consolidation phase could follow as traders take profits. The next price movement will depend on whether buying pressure persists or if sellers start to dominate as the RSI approaches overbought levels.

BERA DMI Shows Buyers Are In Control

Berachain’s DMI shows that its ADX is currently at 34.4, rising from 19.3 two days ago, after previously reaching 60.2 a week ago when BERA’s price surpassed $8.5. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction, ranging from 0 to 100.

An ADX above 25 signals a strong trend, while values below 20 suggest a weak or non-trending market. The increase in ADX indicates that the current uptrend is gaining strength, reflecting growing momentum and market conviction.

BERA CMF.
BERA CMF. Source: TradingView.

Meanwhile, BERA’s +DI is at 27.4, showing strong buying pressure, while the -DI is at 8.55, down from 11.1 two days ago, indicating weakening selling pressure.

This configuration confirms that BERA is in an uptrend, with buyers clearly in control. The widening gap between the +DI and -DI suggests that the bullish momentum is increasing, making a continuation of the uptrend more likely. As long as the +DI remains above the -DI and ADX stays above 25, BERA is likely to maintain its upward trajectory.

Will BERA Reclaim Levels Above $9 In March?

Berachain (BERA) could be on its way to retest levels above $8.5, and if the current uptrend continues to gain momentum, it could rise further to challenge resistance above $9.

With a market cap of $884 million, the $1 billion threshold could be a crucial level to watch in the coming weeks, as breaking this milestone could attract increased investor interest and buying pressure.

BERA Price Analysis.
BERA Price Analysis. Source: TradingView.

However, if the uptrend reverses, BERA could decline to test the support at $6.18.

If this level fails to hold, the price could drop further to $5.48, signaling a deeper correction. These key support and resistance levels will play a vital role in determining BERA’s next price movement.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top 3 Hidden Altcoin Gems For March

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Altcoins like DOGEai, SIREN, and Nodecoin (NC) are gaining attention as hidden gems to watch in March. DOGEai, built on Solana, leverages multiple narratives, including Dogecoin’s popularity and the growing AI trend.

SIREN, a BNB altcoin, is poised to benefit from BNB’s rising momentum, while NC taps into the emerging DePIN narrative by rewarding users for monetizing unused internet.

DOGEai (DOGEAI)

DOGEai is an artificial intelligence coin launched on the Solana blockchain. Its market cap is $27 million, up 22% in the past seven days.

The project capitalizes on multiple narratives, including Dogecoin’s widespread popularity, increasing interest in DOGE (Department of Government Efficiency), and the trend of AI-based cryptos.

DOGEai Price Analysis.
DOGEai Price Analysis. Source: TradingView.

It positions itself as “an autonomous AI agent designed to uncover waste and inefficiencies in government spending and policy decisions,” providing bill summaries and insights into public expenditures.

If the current uptrend continues, DOGEai could challenge the resistance at $0.048, with potential upside targets at $0.057 and $0.068. A strong bullish trend could even push it to $0.098.

Conversely, if a downtrend occurs, DOGEai has support at $0.029, and if that level breaks, the price could decline to $0.0119.

SIREN

SIREN is a BNB altcoin capitalizing on the AI crypto narrative. With BNB gaining momentum – recently surpassing Solana in 24-hour trading volume – some of its altcoins, including SIREN, could attract increased attention in the coming weeks.

SIREN currently has a market cap of around $40 million, over 22,000 holders, and a daily trading volume of $1 million.

SIREN Price Analysis.
SIREN Price Analysis. Source: Dexscreener.

As interest in BNB continues to grow, SIREN could benefit significantly by positioning itself as a leading AI coin within the BNB ecosystem, which currently lags behind Solana and Base in the AI narrative.

If SIREN can establish a strong uptrend, it could challenge the resistance at $0.089, and breaking this level could push it further to $0.11. Conversely, if the downtrend intensifies, SIREN could test the support at $0.051, and if that level fails, it could drop as low as $0.034.

Nodecoin (NC)

NC is a Solana-based altcoin that serves as the native coin of Nodepay, a platform that allows users to monetize their unused internet for AI training and earn rewards.

NC is up 14% in the last seven days, with its market cap now at $14.4 million. Jason Brink, CEO of Datagram, emphasizes that DePIN coins could be one of the most underrated narratives right now:

“Given the current market sentiment, narratives tied to real-world utility and assets are poised to gain traction as investors shift focus back to fundamentals. The DePIN sector is particularly well-positioned to attract attention, encompassing projects in decentralized communication, edge computing and AI training. These networks deliver substantial cost efficiencies and reduce resource wastage, making them increasingly viable alternatives to traditional infrastructure models. Moreover, as the sector matures, sustainable tokenomics and concrete revenue models are not only reinforcing DePIN’s long-term proposition, but also aligning blockchain technology with real-world economic utility,” Brink told BeInCrypto.

NC Price Analysis.
NC Price Analysis. Source: TradingView.

If Nodecoin can build a strong uptrend, it could rise to test levels around $0.1.

However, if a downtrend emerges, it could test support at $0.056, and if that one is lost, it could go as low as $0.043.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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