Market
Kraken’s Major Questions Defense Dismissed in SEC Legal Battle
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Golden Cross Hints at Bigger Gains Ahead
XRP price continues to show strong momentum after reaching new all-time highs in mid-January. The token is up nearly 10% in the last 24 hours, with its market cap standing at $181 billion and trading volume exceeding $10 billion.
Despite a slight dip in whale activity, the number of large XRP holders remains at historically high levels, signaling sustained interest. Key technical indicators, such as CMF and EMA lines, suggest a potential for further upside, though critical support levels will be crucial in determining XRP’s next move.
XRP Whales Are Down from Peak Levels
XRP whale addresses—those holding between 10 million and 100 million XRP—reached 305 on January 23 and 24, marking one of the highest levels ever recorded.
Since then, the number has slightly declined to 299, but it remains elevated, indicating sustained interest from large holders despite the recent dip.
Tracking whale activity is critical because these large holders often have the power to influence price movements through their buying and selling actions.
The current count of 299 suggests that while some whales may have reduced their holdings, overall confidence among major investors remains strong. This elevated level could support XRP price, as consistent accumulation by whales often signals long-term bullish sentiment.
XRP CMF Indicates Increased Accumulation
XRP’s Chaikin Money Flow (CMF) has risen to 0.19 from 0.08 just a day ago, indicating increased capital inflows and stronger buying pressure. This suggests that investors are accumulating XRP, a potential sign of bullish sentiment building in the market.
The CMF, which measures the volume-weighted average of accumulation and distribution, shows positive values when capital inflows exceed outflows.
With a reading of 0.19, XRP CMF highlights growing confidence among buyers, which could provide support for its price and signal potential upward momentum if sustained.
XRP Price Prediction: New All-Time Highs In February?
XRP EMA lines indicate the possibility of a golden cross forming, which could spark a new uptrend. If this bullish pattern materializes, XRP may rise to test the $3.28 resistance level.
Breaking past that, XRP price could climb further to $3.40 and potentially reach $3.50 for the first time ever.
However, if a downtrend emerges instead, XRP price could test the $3.03 support level. Losing this support might lead to a further decline to $2.82, with the potential to drop as low as $2.60 or even $2.32. This would represent a 26.5% correction.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
TRUMP Price Climbs 10% as Market Cap Nears $6 Billion
TRUMP’s price has risen 10% in the past 24 hours but remains 20% lower over the past week, maintaining its reputation as one of the most hyped meme coins ever. Its market cap currently sits at $5.9 billion, significantly down from its peak of nearly $15 billion on January 19.
Technical indicators, including RSI and CMF, point to stabilization, with momentum shifting toward neutral territory as buyer interest picks up. Key resistance and support levels will play a crucial role in determining if TRUMP can regain its upward momentum or face further declines.
TRUMP RSI Is Currently Neutral
TRUMP Relative Strength Index (RSI) has risen to 50, up from 40 just a day ago. That indicates a shift toward more neutral momentum after a period of bearish pressure.
The increase suggests a growing balance between buying and selling activity, potentially signaling stabilization in its price movement.
The RSI is a momentum indicator used to measure the speed and magnitude of price changes. It ranges from 0 to 100, with values below 30 indicating oversold conditions. Values above 70 signal overbought conditions, and around 50 reflect neutral momentum.
With TRUMP RSI currently at 50, the coin is neither overbought nor oversold. That suggests the potential for a directional move depending on whether buying or selling pressure dominates next.
TRUMP CMF Is Still Negative, But Rising Fast
TRUMP Chaikin Money Flow (CMF) has improved to -0.08, rising significantly from -0.37 just two days ago. This upward movement indicates a reduction in selling pressure and hints at increasing capital inflows, though overall outflows still slightly outweigh inflows.
The CMF is a technical indicator that measures the flow of capital in and out of an asset, using a volume-weighted average of accumulation and distribution. Positive values indicate capital inflows, while negative values suggest outflows.
With TRUMP CMF at -0.08, the improving trend suggests growing buyer interest. If the metric crosses into positive territory, this could help stabilize its price and potentially shift momentum toward the upside.
TRUMP Price Prediction: Can It Recover a Strong Uptrend?
TRUMP price faces a key fundamental resistance at $30.33, which, if broken, could pave the way for a test of $45.20. This would solidify TRUMP’s third-place position among the biggest meme coins in the market, behind SHIB and DOGE.
Should the token regain its strong momentum from last week, it might climb further to test $64.50 and potentially reach $71.80, signaling significant bullish opportunities.
However, if the downtrend resumes, TRUMP price could fall back to test the $15.43 support level. Losing this critical support could lead to further declines, putting additional bearish pressure on the token’s price and potentially signaling a deeper correction.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Fake DeepSeek Meme Coins Reach Huge Market Caps
A fake meme coin advertising itself as DeepSeek gained a market cap of over $12 million today before crashing. Since the Chinese AI protocol took the US tech sector by storm, several scam assets have used its branding to reap huge profits.
The crypto community is facing an epidemic of major scams preying on total novices to the space. Meme coin launchpads are only making the issue worse.
Scam DeepSeek Meme Coins Take Off
The arrival of DeepSeek, the Chinese AI program that disrupted the whole crypto market, has led to a truly bizarre situation. Its widespread publicity sparked declines in Nvidia and in AI-related cryptoassets, so scammers began exploiting the hype.
A few fake DeepSeek tokens have appeared on Pump.fun, and they’re already trending on decentralized exchanges. Users are still investing in these tokens, even though DeepSeek previously clarified that it had no connection with any digital asset.
“DeepSeek has not issued any cryptocurrency. Currently, there is only one official account on the Twitter platform. We will not contact anyone through other accounts. Please stay vigilant and guard against potential scams,” the firm claimed earlier in January.
Seek, the first fake DeepSeek token, launched yesterday. It managed to accumulate a $48 million market cap before slumping. This first rug pull was so successful that scammers released another.
A Solana-based meme coin traded under the “DeepSeek” name and reached a market cap of over $12 million. Most disturbingly, the fake token is trending number one on GeckoTerminal, in terms of daily transactions.
Since Donald Trump launched his own meme coin, a flurry of brazen scams and ripoffs has covered the space. Scammers stole over $857 million using the TRUMP token, and impersonators have paraded as US government agencies or world leaders.
In this context, these fake DeepSeek tokens fit right into the milieu. A survey claimed that 40% of investors in TRUMP are first-time crypto holders. Billions of dollars are flowing into the crypto industry, and total newcomers are plunging in headfirst.
Many of them are paying the price for their lack of knowledge and awareness. Simply put, it’s easier than ever to make a fake meme coin, and DeepSeek is currently the most viral topic on social media. So, scammers are fully utilizing this hype.
It’s not easy to say how the crypto community will work through this mess. Industry heavyweights like Ethereum founder Vitalik Buterin have warned against the scam-heavy culture, but there’s no easy solution to it.
For the time being, more scam DeepSeek tokens will likely enter the market until this viral hype fades down.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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