Latest news with #U.S.SecuritiesandExchangeCommission
Arabian Post
3 days ago
- Business
- Arabian Post
Bitcoin Reclaims 64% Share as Ethereum Gains Momentum
Bitcoin has surged to command approximately 64 per cent of the global cryptocurrency market, a dominance level unseen since January 2021 and propelled by heavy institutional inflows following the U.S. Securities and Exchange Commission's approval of Bitcoin ETFs in January 2024. This increased dominance has coincided with a resurgence in confidence for Ethereum, which has seen its share climb from around 7.1 per cent in April to approximately 9.3 per cent today. This shift marks a turning point in crypto capital flows. For many investors, Bitcoin remains the safe harbour amid global market volatility and rising macroeconomic uncertainty. According to the Financial Times, heightened Bitcoin dominance is underpinned by 'heightened institutional investment,' with major hedge funds such as Millennium Management and Brevan Howard among top ETF holders. Smaller tokens have lost ground as smart money funnels into the more established and liquid assets. Ethereum's revival reflects this evolving dynamic. Once languishing with just over 7 per cent market share in April, it has rebounded to 9.3 per cent. Analysts attribute the rise to improving investor sentiment and increasing adoption of Ethereum-based applications. Technical indicators also support a bullish outlook: Ethereum's market value has risen nearly 48 per cent over the past three months, compared to Bitcoin's 31 per cent. ADVERTISEMENT Chart patterns signal a potential inflection. Bitcoin dominance has encountered resistance at around 64–65 per cent, hinting at a possible reversal. Analysts such as 'Astronomer' on social platforms point out that Bitcoin's market share is approaching a critical ceiling and may soon recede—a shift that historically precedes renewed altcoin activity. Investor behaviour appears to reflect this emerging balance. Spot Ethereum ETFs have attracted sustained inflows, with over US$1.3 billion entering ETH products across 19 consecutive days. Additionally, 'smart money' whale activity in ETH protocols indicates a strategic accumulation, even as retail traders step back. These large-scale holders are said to control nearly 27 per cent of the total ETH supply—an indication of growing institutional confidence. Market analysts underscore that Bitcoin dominance near 64 per cent still keeps altcoins marginalised. Daan Crypto warns that unless Bitcoin dominance dips below this level, funds will remain weighted toward Bitcoin. The Altcoin Season Index—a metric tracking the performance of top altcoins relative to Bitcoin—currently sits in the 30s, suggesting a fading but not yet full-blown move into altcoins. Historically, a shift above 75 triggers more substantive altcoin rallies. Nevertheless, proponents argue that liquidity rotation is underway. Ethereum's rise is seen as the vanguard, often signalling broader market rotation into high-cap alternatives. As Maxwell Mutuma noted, 'Altcoins have spent a good part of 2025 playing catch‑up…with Bitcoin's dominance at 64 per cent, it's certainly raised some concerns,' even as 'Ethereum's recent surge hints at a broader altcoin rotation'. Despite current trends, caution remains. Analyst Severino has advised that although technical indicators support a pullback in Bitcoin's dominance, any full-scale altcoin rally is not yet assured. He emphasises that meaningful declines below 62 per cent in Bitcoin dominance would be needed to confirm a structural shift in asset allocation. Ethereum stands at the centre of this crossroads. With its market share approaching 9.3 per cent, ongoing technological updates such as the upcoming Pectra upgrade may reinforce investor confidence and drive further capital inflows. The current scene paints a narrative of cautious optimism. Bitcoin remains firmly dominant, buoyed by institutional demand, but Ethereum's resurgence signals that capital is beginning to trickle back into the altcoin space. Whether this marks the vanguard of a broader altcoin resurgence or simply a temporary reprieve will depend on whether Bitcoin dominance retreats from its 64 per cent plateau.
Yahoo
4 days ago
- Automotive
- Yahoo
Car-sharing giant Zoomcar says hacker accessed personal data of 8.4 million users
Indian car-sharing marketplace Zoomcar has revealed that a hacker accessed the personal data of at least 8.4 million customers, including their names, phone numbers, and car registration numbers. The Bengaluru-headquartered company identified the incident involving unauthorized access to its information systems on June 9, per its filing with the U.S. Securities and Exchange Commission. The company stated that it became aware of the incident after some of its employees received external communications from a threat actor who claimed to have gained access to the company's data. 'Upon discovery, the company promptly activated its incident response plan,' said Zoomcar in its filing. The company said there was 'no evidence that financial information, plaintext passwords, or other sensitive identifiers' were compromised in the breach. Responding to the incident, Zoomcar said it implemented 'additional safeguards across the cloud and internal network, increasing system monitoring, and reviewing access controls,' without providing further details. The company also stated that it is engaging with third-party cybersecurity experts and has notified 'appropriate regulatory and law enforcement authorities and is cooperating fully with their inquiries.' However, Zoomcar has not yet said if it has informed affected customers about the incident, and whether it has any information about the hacker. TechCrunch has reached out to Zoomcar, asking these questions and more, and will update this article when the company responds. Founded in 2013, Zoomcar allows customers to rent cars on a monthly, weekly, daily, and hourly basis. The company operates in 99 cities with over 25,000 cars and has more than 10 million users, per the data available on its investor relations website. In addition to India, the company operates in Egypt, Indonesia, and Vietnam. In February, Zoomcar reported a 19% year-on-year increase in car rentals to 103,599 bookings. Contribution profit jumped over 500% to $1.28 million, while net loss stood at $7.9 million. 'To date, the incident has not resulted in any material disruption to the company's operations,' the company said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
4 days ago
- Business
- Arabian Post
Coinbase Aims to Tokenise US Equities via Blockchain Push
Coinbase has formally requested approval from the U.S. Securities and Exchange Commission to offer tokenised equities in the country. The scheme would let users buy and trade digital tokens representing company shares, potentially enabling 24/7, faster, and lower-cost equity trading by leveraging blockchain technology. If successful, Coinbase could directly compete with established brokerages such as Robinhood and Charles Schwab. This strategic initiative marks a pivotal expansion beyond crypto into traditional financial markets. Coinbase's chief legal officer Paul Grewal described the push as a 'huge priority,' emphasising the potential to establish a regulated framework for tokenised securities. To proceed, the company is seeking a 'no-action letter' or an exemptive relief from the SEC—mechanisms that would allow official clearance to operate without enforcement action. The tokenisation of shares aims to reduce transaction costs, accelerate settlement and expand market accessibility. Proponents believe that blockchain-based equities could revolutionise trading. However, global regulators have flagged challenges including low secondary-market liquidity and absence of unified global standards. ADVERTISEMENT Coinbase's renewed interest follows a prior attempt to introduce a tokenised version of its own stock at the time of its 2020 direct listing—an effort ultimately blocked by the SEC. Now, with the SEC's evolving crypto task force and indications of a more favourable regulatory environment under the Trump-appointed leadership of acting chair Mark Uyeda, Coinbase envisages a window of opportunity. Institutional enthusiasm appears to be rising, with CFO Alesia Haas noting that prior regulatory obstacles—'brick walls,' as she put it—may now be negotiable. CEO Brian Armstrong similarly asserted the potential for round-the-clock trading innovation and applauded engagement with the SEC's crypto task force. Despite this optimism, regulatory hurdles remain. Coinbase is not registered as a broker-dealer, and any platform facilitating trading in tokenized equities must satisfy existing legal requirements. The SEC had previously sued Coinbase in 2023, alleging the company operated an unregistered brokerage—a lawsuit later dismissed in 2025 under the Trump-appointed SEC leadership. If granted a no-action letter, Coinbase would gain regulatory assurance that trading tokenised equities is compliant under current laws—a reassurance deemed critical to advance institutional adoption in the sector. Some industry commentators suggest that while tokenised equities are gaining traction internationally, U.S. regulatory clarity is key to unlocking broader institutional uptake. Globally, exchanges like those operated by Kraken are already piloting tokenised shares—known as xStocks—in international markets outside the U.S.. These moves reflect a broader shift: analysts such as Colin Butler of Polygon have predicted tokenised real‑world assets could reach a market potential of up to $30 trillion in the long term. Within the U.S., Coinbase has sought to shape the regulatory conversation. In March, the company submitted 36 detailed recommendations to SEC Commissioner Hester Peirce, articulating a blueprint for distinguishing between digital commodities and digital securities, and calling for secondary-market clarity. The SEC also hosted roundtable discussions earlier this year with industry participants on asset tokenisation, including former Coinbase counsel Alex Zozos. Securing approval would align Coinbase with a mosaic of international initiatives exploring tokenised share trading, potentially enabling U.S. investors to trade equities with crypto-like efficiency. Yet adoption remains tied to demonstration of adequate liquidity, interoperability, and regulatory consistency—areas where global standards are still evolving. While no timing for product rollout has been disclosed, Paul Grewal stressed that obtaining a no-action letter is essential to injecting confidence into institutional investors, paving the way for a new class of regulated digital securities.
Yahoo
4 days ago
- Business
- Yahoo
Where Will XRP (Ripple) Be in 1 Year?
XRP is the fourth-largest cryptocurrency, and its blockchain has real-world applications for cross-border transactions. The odds of an XRP ETF launch this year have risen significantly. XRP is still a speculative investment, and investors should be cautious about owning too much crypto in their portfolios. 10 stocks we like better than XRP › Cryptocurrencies are often polarizing. True believers often dismiss any legitimate skepticism of a digital token and its blockchain, while financial traditionalists often can't imagine that any new financial process could take root in an established system. No matter where you fall on this spectrum, one coin that has gained significant attention lately is XRP (Ripple) (CRYPTO: XRP). The real-world benefit of XRP is that its blockchain allows for faster cross-border transactions. Sending money across the globe and converting it into another currency traditionally takes nearly a day and can be expensive, but XRP can do it in seconds and doesn't charge transaction fees. With this practical application in mind, here are two reasons to be optimistic about XRP over the next year and one word of caution. The U.S. Securities and Exchange Commission (SEC) formerly had a lawsuit against Ripple Labs (the developer of XRP), saying the company was selling an unregulated security. But that lawsuit was settled last month, resulting in Ripple paying a $50 million fine but receiving the remainder of $125 million that was being held by the SEC. The settlement is significant for XRP because some financial institutions were likely hesitant to adopt XRP's cross-border transaction blockchain process while the U.S. government had a pending lawsuit against the coin's developer. There's no guarantee that XRP will gain widespread adoption over the next year, or ever, but with the lawsuit out of the way, it's far more likely than before that institutions could move in this direction. Exchange-traded funds have become a popular option for buying stocks, and they've recently emerged as a new avenue for investing in crypto as well. About a dozen Bitcoin ETFs launched last year, and other cryptocurrency ETFs have also debuted, proving demand for crypto ETFs is strong. The digital prediction market Polymarket has the odds of an XRP ETF launching this year at 98%, up from 68% in April. XRP is already the fourth-largest cryptocurrency, and demand for Bitcoin and Ethereum ETFs has been strong since they debuted. For example, BlackRock's iShares Bitcoin Trust ETF has received nearly $49 billion in net inflows since it launched in 2024. Some analysts estimate that XRP's value would skyrocket to $27 -- a more than 1,000% increase from its current price -- if an XRP ETF launches this year. That astronomical price increase prediction is a reminder of the unrealistic euphoria that's often associated with cryptocurrencies, but it's also an indicator that investors may be eager to buy XRP if there's an easy way to do so. Again, there's no guarantee of an XRP ETF debut, or that it would cause a spike in XRP's price, but considering that XRP's price has soared 365% over the past year, it's clear that investors are already interested in the coin. While there are a handful of legitimate reasons to be optimistic about XRP, it's also important to note that the crypto's value can be volatile. All digital tokens come with a hefty dose of instability, and XRP is no exception. For example, the same analysts who predict XRP could gain 1,000% if an ETF is approved also predict that its value could then fall by up to 90% after the surge. Still, the real-world application of using XRP's blockchain to process cross-border transactions makes the token an interesting investment idea. If you're OK with volatility, then having a small position in XRP may not be a bad idea. But it's important to remember that crypto should play a limited role in your overall investment strategy. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool has a disclosure policy. Where Will XRP (Ripple) Be in 1 Year? was originally published by The Motley Fool
Yahoo
4 days ago
- Business
- Yahoo
Coinbase seeking SEC approval for tokenized equities trading
-- Coinbase (NASDAQ:COIN) is working to gain approval from the U.S. Securities and Exchange Commission to offer "tokenized equities" to its customers, the company's chief legal officer Paul Grewal told Reuters on Tuesday. This initiative would enable Coinbase to provide stock trading using blockchain technology. The move can put the crypto exchange in direct competition with retail brokerages including Robinhood (NASDAQ:HOOD) and Charles Schwab (NYSE:SCHW). Grewal described the concept as a "huge priority" for Coinbase, and it is anticipated that the approval can create a new business segment for the company. Tokenizing equities involves converting company shares into digital tokens that function similarly to cryptocurrencies. Under this system, investors would hold tokens representing ownership of securities rather than holding the securities directly. Related articles Coinbase seeking SEC approval for tokenized equities trading Sina: Liu vows innovation after 'five-year decline,' targets travel Goldman upgrades Chinese EV makers XPeng and Nio on cost cuts, product improvement
