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Acting CFTC Chair Caroline Pham said companies will be able to provide input on an upcoming digital asset pilot program.
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Here's a quick recap of the crypto landscape for Friday (February 7) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin is trading at US$96,087, recording a 0.4 percent decrease over 24 hours as of the market’s close on Friday. The day's trading range saw a high of US$100,097 and a low of US$95,746.
Meanwhile, Ether is priced at US$2,595.45, marking a decline of 3.7 percent over 24 hours. The cryptocurrency reached an intraday high of US$2,794.36 and a low of US$2,590.32.
Altcoin price update
- SOL is currently valued at US$189.99, 1 percent lower over 24 hours, after hitting a daily high of US$202.86 and a low of US$189.95 as the markets closed for the weekend.
- XRP rose to US$2.38 at the end of the trading day, marking a 2.2 percent increase. The cryptocurrency reached an intraday high of US$2.53 and a low of US$2.36.
- SUI is trading at US$2.97, near its lowest valuation of the day and a 6 percent decline. It achieved a daily high of US$3.37 and a low of US$2.96.
- Finally, ADA is down, priced at US$0.7041, reflecting a 0.6 percent decrease over 24 hours. Its highest price on Friday was US$0.7485 at the opening bell and its lowest was US$0.6994.
Crypto news to know
Acting Commodity Futures Trading Commission (CFTC) Chair Caroline Pham announced a forum where crypto CEOs from companies including Coinbase, Circle and Ripple can provide input on an upcoming digital asset pilot program.
Earlier this week, Pham said the CFTC will be dividing its task force into two main groups and will be “ending regulation by enforcement,” turning its attention to fraud and consumer protection instead.
Elsewhere, a US federal judge has decreed that Coinbase will be required to face allegations brought to it by the US Securities and Exchange Commission (SEC) in June 2023, rejecting the crypto exchange’s argument that it does not meet the criteria of a statutory seller. According to Reuters, US District Judge Paul Engelmayer said, “customers on Coinbase transact solely with Coinbase itself,” effectively concluding that Coinbase is a seller.
The SEC has also requested more time to reach a final decision regarding an application by Nasdaq’s International Securities Exchange to list options contracts for BlackRock’s iShares Ethereum Trust (ETHA).
The decision is now due in April of this year.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
Learn about our editorial policies.
Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.
Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.
Learn about our editorial policies.