Crypto Headlines Of The Week: Ripple, Binance, & Pepe Coin Drive Frenzy
Another week ends within the global crypto realm, with Ripple, Binance, and Pepe coin igniting a flurry of speculations among crypto market participants. The ongoing Ripple vs the U.S. SEC lawsuit took exciting turns this week, whereas Binance further streamlined its crypto offerings. Pepe coin emerged as the talk of the town of the meme coin sector, painting an optimistic portrait of its future.
Here’s a closer look into this week’s top headlines, which garnered significant attention in the global crypto space.
Ripple vs U.S. SEC: Here’s All That Happened
Speculations that the lawsuit between Ripple and the U.S. SEC is about to end rose phenomenally this week, as Ashley Prosper, an expert on the XRP lawsuit, claimed that the SEC’s conclusive response during the remedies phase held significant importance for the case.
The United States Securities and Exchange Commission (SEC) submitted its final reply in the remedies phase on May 6. Notably, pro-XRP lawyer James Murphy criticized the reply, deeming it pointless and lacking substantial arguments about institutional investors’ financial harm.
Meanwhile, the broader industry sentiments also hinted that the SEC’s arguments in reply briefs for remedies and final judgment were weak, as Ripple CLO Stuart Alderoty reiterated. Ripple CEO Brad Garlinghouse, on the other hand, shared vital insights on hot trends surrounding Ripple, such as the firm’s operational endeavors, recent developments within the XRPL, strategies for the long-running lawsuit against the U.S. Securities and Exchange Commission, etc.
The American blockchain payments company also appears to be considering launching a stablecoin in June, as hinted by CTO David Schwartz. In the interim, XRP, the cryptocurrency backed by Ripple Labs, continued to trade sluggishly this week.
Binance’s Crypto Offerings
Whereas, Binance, one of the world’s most renowned crypto exchanges, embarked on a plethora of crypto-related developments this week. Reportedly, the U.S. DoJ (Department of Justice) called out the FRA (Forensic Risk Alliance) to monitor Binance Holdings’ activities following its money-laundering saga.
Meanwhile, Binance-related wallets were noted to have burnt 222 million Terra Luna Classic tokens (LUNC) this week. In other news surrounding the pioneering CEX, Binance CEO Richard Teng issued a plea for the release of unjustly detained Binance executive Tigran Gambaryan.
Further, Binance Futures, Binance’s crypto derivatives arm, announced that it is delisting the USDⓈ-M perpetual contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. The firm also announced the removal of all BIDR (Indonesian Rupiah-backed stablecoin) products and services from its platform.
Amid these delisting chronicles, Binance revealed that it would cease support for the USDⓈ-M IDEXUSDT, SLPUSDT, and GLMRUSDT USDⓈ-M perpetual contracts, followed by other pairs. Simultaneously, the exchange announced the launch of Notcoin (NOT) as its 54th project on Binance Launchpool.
Intriguingly, Binance also became a FIU (Financial Intelligence Unit) registered crypto exchange in India this week, further cementing its foothold within the industry.
Also Read: Tron Founder Justin Sun Bags 2M Tokens From EigenLayer Airdrop
Pepe Coin Sparks Bullishness
In the midst of the abovementioned chronicles, Pepe coin emerged as the hot topic of the meme coin sector. A smart money address was noted to have been accumulating 143 billion PEPE this week, driving immense investor optimism on the meme coin.
Despite the token already being on a bull run, accumulations surrounding the frog-themed meme token rose in the past seven days. A fresh whale was noted to have bagged 357 billion PEPE from Binance, followed by numerous crypto market investors accumulating 650 billion Pepe coin, collectively.
The phenomenon has aided the token in gaining significant traction despite the broader market’s turbulency and market sentiments of Pepe coin have being topped. Also, a post BTC halving price rally is yet to come.
Also Read: Smart Money Flocks To PEPE & These Major Cryptos, A Recovery Ahead?
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