Recent news have emerged regarding XRP being named an unregistered security in a new lawsuit against Coinbase. This information was shared by a regulatory affairs VP from Paradigm, highlighting that other tokens are also included in the list.
Lawsuit Against Coinbase and XRP Statement
Oregon Attorney General Dan Rayfield has filed a lawsuit against Coinbase, claiming that XRP is an unregistered security. The list also includes other popular tokens like ADA, AVAX, AAVE, UNI, FLOW, LINK, and MKR. Coinbase criticized the lawsuit as 'meritless' and asserted that regulatory changes should occur through proper legal means rather than enforcement. Notably, a federal judge had previously ruled that XRP is not a security when sold on public exchanges.
XRP and Solana in ETF Filing Race
According to Bloomberg, there are currently 72 crypto-related ETF filings. XRP stands out as a strong candidate for a spot-based ETF in the U.S., with companies like Grayscale, Bitwise, and Wisdomtree competing to introduce XRP-related products. Solana is also actively participating with 11 filings including one from Fidelity. The submitted applications are expected to be reviewed by the new SEC chairman Paul Atkins.
Shiba Inu Approaches Key Resistance Breakout
Over the past week, Shiba Inu has registered a 12.37% increase, surpassing the $0.000012 level. At press time, SHIB is trading at $0.00001333, up 1.55% in the last 24 hours. To maintain this level, the token needs to gain more momentum, supported by increased trading volume and token burns. The latest data shows a 72.19% increase in trading volume to $316.35 million, indicating renewed interest from SHIB holders.
The situation surrounding XRP and other popular tokens continues to draw attention, raising questions about regulation and potential market changes. New initiatives in the ETF domain and active community engagement are expected to shape future trends in the cryptocurrency industry.
