Cryptocurrency
Coinbase SEC investigation: Coinbase is deep into “shitcoins”

The question of whether Coinbase is regulated by the SEC is off the table today. Especially in view of how much news is related to the proceedings between the exchange and the regulator. Cryptocurrency exchange Coinbase is in the spotlight because of allegations of insider trading, but they aren’t the only ones under scrutiny. The SEC is also facing a backlash for failing to regulate the digital asset sector and prevent such misconduct. Against this backdrop, the conflict between Coinbase and the SEC has become the center of attention.
Coinbase SEC investigation
Coinbase SEC disclosure is constantly in the news. Coinbase is currently experiencing regulatory difficulties. The Coinbase SEC annual report released this week says that the SEC is investigating the company for selling digital assets that should have been registered as securities. This circumstance has caused its stock price to plummet. Katie Wood has abandoned her position in the company’s stock.
This news hurts Coinbase because the company has remained on the side of regulators since its founding. Bloomberg’s Max Chafkin lays the blame on Coinbase’s rash decision several years ago to “turn to shitcoins. A familiar term in the crypto world, shitcoins usually refer to digital tokens that have no apparent utility beyond speculative advertising.
Coinbase spent years building its reputation, but then squandered it all on “shitcoins.” This led to Coinbase SEC class actions. This included promoting new Dogecoin coins to small and unsophisticated investors, many of whom suffered losses of 80% or more. As a result, the SEC cracked down on Coinbase. Meanwhile, the decision to add shitcoins also opened the door to a fraudulent insider trading scheme by a Coinbase manager.
SEC Liability
It’s easy to blame Coinbase executives for this situation, but the main blame lies with the SEC. The situation has gotten much worse under current SEC Chairman Gary Gensler. Gensler is a non-lawyer and has used his position to boost his credibility with the Democratic Party.
In doing so, Gensler has sought to hit major companies such as Coinbase, which has largely followed the rules, allowing the worst players to get out of control. Two of the biggest cryptocurrency crashes this year-the collapse of Terra, a Ponzi scheme-like project, and the bankruptcy of lender Celsius-occurred in front of Gensler, and the SEC could not intervene in time. As a result, small investors are losing billions of dollars.
Coinbase sued by SEC – what came of it?
How did the SEC investigation into Coinbase, which like all such investigations is supposed to be secret before charges are filed, even end up in the media? Some experts on Twitter have suggested that Gensler leaked the investigation to Bloomberg to punish Coinbase, which has publicly complained about the SEC’s behavior. An experienced crypto lawyer familiar with the customs of Washington, D.C., says this is almost certainly true, and adds that there are traces of Gensler in earlier leaks to the Wall Street Journal.
The SEC has also been criticized for the amateurism of high-ranking officials who leave the agency to cash in on private law firms. The most egregious example is laid out in a new revelation that shows how a lack of oversight allowed former SEC lawyers to use their connections at the agency to play up the whistleblower program and make themselves tens of millions of dollars.
Gensler may want to get his house in order before torturing the likes of Coinbase. Specifically, he should stop political machinations and create a structure to help crypto and blockchain, one of the most important technologies of this century, flourish on America’s shores.
It’s unlikely he’ll do that, but it may not matter. The debate about how to regulate cryptocurrency is moving beyond the SEC to other agencies, including the CFTC, which has recognized the importance of innovation as well as protecting consumers from harm.
The bottom line is that shitcoins got Coinbase in trouble with the SEC, but looking at the aftermath of the shitcoins boom, it is the SEC that has the most to explain its inaction.
Cryptocurrency
Bitcoin Price Tests $110K as Total Liquidations Near $300 Million

Bitcoin’s price has managed to completely erase the losses from yesterday and it appears that bulls are on the run again.
At the time of this writing, BTC is trading at around $109,500, preparing to test the pivotal technical and psychological level of $110K, sitting right below the cryptocurrency’s all-time high.
Data from Coinglass shows that the total number of liquidations across the derivatives market currently sits at almost $300 million – a 32% increase compared to the previous 24 hours.
BTC leads the way with around $50 million in liquidations, where the majority of positions were short. In total, $190M out of the $300 million in forced-closed traders were betting on the price to go down.
Naturally, the altcoins are following suite and are also recovering and most of them are now trading in the green. It’s interesting to see if this will transition into a more sustained upward movement in the next few days.
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Cryptocurrency
Ripple (XRP) Price Outlook: 2 Bearish and 2 Bullish Factors to Watch

TL;DR
XRP’s recent dip comes alongside a drop in key on-chain metrics – like active accounts and executed transactions – hinting at declining user engagement and a potential short-term correction.
Despite the concerns, optimism remains high as Polymarket gives a 92% chance for a spot XRP ETF approval by end-2025, while negative exchange netflows suggest reduced immediate selling pressure.
Pullback on the Horizon?
Ripple’s XRP started July on the right foot, with its price rising to as high as $2.30. The uptrend, however, was short-lived, and it currently trades at around $2.17 (according to CoinGecko’s data).
Meanwhile, the decline of certain XRP metrics suggests the asset’s investors may have to endure a more substantial correction in the near future. Data shows that the number of active accounts, the number of executed transactions, and the number of newly activated accounts have headed south in the past few days.
This development points to reduced user engagement and utility in XRP’s ecosystem, which may lead to price stagnation or even a pullback.
Interest in Ripple’s cross-border token has also waned over the past several months. Google searches involving the asset are currently far below the peak levels registered in December last year. This could mean that fewer new buyers are entering the market.
The Bullish Signals
Every coin has two sides, so let’s also observe the factors that suggest Ripple’s native token might be on the verge of a renewed rally.
To begin with, XRP investors could gain significantly if a spot ETF receives regulatory approval in the United States. A growing list of major firms – such as Grayscale, Bitwise, Franklin Templeton, 21Shares, and others – have already expressed interest in launching such a product.”
According to Polymarket, there’s a 92% chance that a spot XRP ETF will be greenlighted in America before the end of 2025.
The surge in odds follows the SEC’s recent approval of Grayscale’s request to convert its Digital Large Cap Fund (GDLC) into a spot ETF – a fund that holds multiple cryptocurrencies, including XRP.
Next on the list is XRP’s exchange netflow, which has been predominantly negative in the last several weeks. This indicates that investors have switched from centralized platforms toward self-custody methods, reflecting a reduced immediate selling pressure.
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Cryptocurrency
Who is Selling Their BTC at These Prices? Glassnode Reveals Bitcoin Profit Takers

About a month ago, market analysts noted that profit-taking on the Bitcoin network was modest. However, that has changed.
The on-chain insights provider Glassnode has revealed that profit-taking on the leading digital network is ramping up again. This comes as Bitcoin (BTC) remains in a consolidation phase following weeks of upward movement.
BTC Holders Take Profits
According to Glassnode’s tweet, bitcoin’s realized profits hit $2.46 billion on June 30, while the network’s seven-day Simple Moving Average (SMA) spiked to $1.52 billion.
The SMA, which identifies trends by averaging prices over a specific period, is currently above its year-to-date (YTD) average of $1.14 billion. However, the metric is still below its November-December 2024 peak of approximately $4.5 billion.
The spike in Bitcoin’s seven-day SMA indicates that coin distribution on the network is on the rise. Mid-to-long-term BTC holders have been leading this profit-taking spree; Glassnode said investors aged three to five years have realized at least $849 million in profits. This cohort of market participants is followed by those aged seven to ten years, with $485 million in profits, and investors aged one to two years with $445 million.
Short-term BTC holders, those holding for under one year, have been cashing out the least gains, at less than $6 million.
Interestingly, older BTC holders have been leading the profit-taking for this cycle. CryptoPotato reported a rise in spending by this cohort in late May, which drove the aggregate volume for the one- to five-year cohorts to $4 billion, its highest level since February. While older investors take the lead, the bulk of the volume is coming from this particular group of Bitcoin holders.
Whales Are Redistributing Too
Glassnode’s latest report is further substantiated by an analysis from the institutional decentralized finance (DeFi) analytics platform, Sentora (previously known as IntoTheBlock).
The firm disclosed that wallets holding more than 1,000 BTC have been steadily reducing their balances. This indicates that although institutional money is flowing into Bitcoin, whales are still offloading their holdings.
It is worth mentioning that Sentora sees the redistribution by whales as a sign of a maturing market rather than weakness. Older whale coins being dispersed could become a dynamic that would strengthen Bitcoin’s long-term potential.
Meanwhile, BTC was still consolidating at the time of writing, hovering under $110,000 – a level, which it has remained confined to in the last few weeks.
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