Here is a fast recap of the crypto panorama for Wednesday (February 19) as of 9:00 p.m. UTC.
Bitcoin and Ethereum value replace
Bitcoin is buying and selling at US$96,170, recording a 2.1 % improve over 24 hours.
The day’s buying and selling vary has introduced a excessive of US$96,604 on the open and a low of US$95,612.
In the meantime, Ether is priced at US$2,718, marking an increase of three.4 % over 24 hours. The cryptocurrency reached an intraday excessive of US$2,726 and a low of US$2,686.
Altcoin value replace
- Solana (SOL) is presently valued at US$167, 0.8 % larger over 24 hours. SOL has recouped some losses following final week’s LIBRA token rug pull, however remains to be down over 13 % in comparison with per week in the past. Textual content messages despatched from Kelsier Ventures CEO Hayden Davis and reviewed by Cointelegraph affirm that Davis, a public determine linked to the LIBRA token, paid for affect over Argentine president Javier Milei, who US President Donald Trump has known as his “favourite president.” SOL reached a excessive of US$172 and a low of US$168 on Wednesday.
- XRP was on the rise, ending Wednesday at US$2.66, a 5.4 % improve over 24 hours. The cryptocurrency reached an intraday excessive of US$2.68 and a low of US$2.58.
- Sui (SUI) is buying and selling at US$3.15 %, close to its highest valuation of the day and a 4.3 % improve. It achieved a day by day excessive of US$3.25 and a low of US$3.15.
- Cardano (ADA) is down, priced at US$0.7566, reflecting a 0.8 % improve over 24 hours. Its highest value on Wednesday was US$0.769 and its lowest was US$0.7535.
Crypto information to know
FTX begins creditor repayments
FTX Digital Markets has begun repaying US$1.2 billion to collectors, marking a brand new step in its ongoing chapter proceedings. The primary spherical of funds prioritizes collectors with claims below US$50,000.
FTX creditor Sunil, a member of the alternate’s largest creditor group, mentioned over 1,500 claimants will obtain funds on this preliminary spherical. Nonetheless, bigger collectors are nonetheless awaiting additional updates.
The FTX collapse in 2022 contributed to one of many harshest downturns in crypto historical past.
Whereas the repayments sign progress, many giant claims stay unresolved. Future repayments and creditor actions will decide the long-term results on market liquidity and investor confidence.
Senate confirms Lutnick to guide Commerce division
The US Senate confirmed Howard Lutnick as secretary of commerce on Tuesday (February 18) with a remaining vote of 52 to 45. Lutnick is the CEO of Cantor Fitzgerald and a identified crypto advocate with a vested curiosity in Tether; in November 2024, the Wall Road Journal broke the information of an funding deal that may give Cantor Fitzgerald a 5 % stake in Tether’s enterprise, price about US$600 million. Lutnick resigned as CEO following his affirmation.
Hong Kong strives to safeguard digital property
The Hong Kong Securities and Futures Fee (SFC) revealed a roadmap to additional develop and safeguard the digital asset market. The ASPIRe roadmap lays out a 5 pillar framework (entry, safeguards, merchandise, infrastructure and relationships) involving 12 initiatives “designed to future-proof Hong Kong’s digital asset ecosystem.” The SFC additionally urged that regulators be versatile in modernizing outdated laws.
Binance resumes US greenback providers
Binance will resume US greenback deposit and withdrawal providers for US prospects after 18 months; the suspension adopted a lawsuit introduced in opposition to the agency in June 2023 by the US Securities and Alternate Fee (SEC).
“The characteristic will regularly roll out to all eligible prospects within the coming days,” the corporate mentioned. “This implies you may deposit and withdraw USD by linking a checking account, purchase crypto through financial institution switch, and luxuriate in buying and selling on USD pairs.”
Coinbase launches SOL and HBAR futures contracts
Coinbase has launched SOL and HBAR (the native forex for Hedera) futures contracts on its derivatives alternate. “This milestone represents one other step ahead within the regulatory evolution of crypto derivatives in the USA, reinforcing the legitimacy and rising demand for digital property,” the corporate mentioned in a press launch.
Futures markets, regulated by the Commodity Futures Buying and selling Fee (CFTC), present a steady benchmark for spot cryptocurrency exchange-traded funds (ETFs), and several other issuers have filed for spot SOL ETFs with the SEC, which has till October 2025 to resolve. Constructing on this momentum, Coinbase’s chief coverage officer, Faryar Shirzad, submitted a proposal to Congress outlining six legislative priorities, together with granting full spot market authority to the CFTC.
SEC might not pause litigation in opposition to Kraken and Ripple
In keeping with Fox Enterprise reporter Eleanor Terrett, a number of sources have confirmed that the SEC is pausing crypto litigation with imminent deadlines, offering one clarification for why regulators haven’t paused lawsuits in opposition to Kraken and Ripple, which have courtroom deadlines of March 31 and April 16, respectively.
The SEC halted its lawsuits in opposition to Binance and Coinbase final week.
“It’s attainable SEC management is anticipating @realDonaldTrump’s decide for chair Paul Atkins to be on his strategy to getting confirmed by that point,” Terrett posted to X, previously Twitter.
Remember to observe us @INN_Technology for real-time information updates!
Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Meagen Seatter, maintain no direct funding curiosity in any firm talked about on this article.
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