This week saw many significant occurrences in the cryptocurrency realm, including legal battles, price drops, and the emergence of new memecoins.
Finder’s Court Victory
Australian fintech company Finder.com won a legal battle in the Federal Court of Australia, concluding a three-year dispute with the Australian Securities and Investments Commission (ASIC). The court affirmed that the Finder Earn product, which generates income, is not considered a financial product, allowing the company to continue its use.
BitMine’s Ether Purchases
BitMine Immersion Technologies acquired over $2 billion in Ether in just 16 days, reclaiming its status as one of the largest holders of this asset. The company's management stated that the goal is to acquire and stake 5% of the total Ether supply.
XRP Market Trends
The price of XRP dropped by 19%, but analysts refer to this as a 'healthy correction.' The decline occurred amid a broader market downturn, yet many experts predict a return to previous price levels and potential increases.
The week presented both significant victories and considerable downturns in the world of cryptocurrency. The events that took place demonstrate the dynamism and volatility of this market.
