Cryptocurrencies

Crypto News Digest by U.Today

Here’s a rewritten version of the article with the domain URLs removed:


To keep you informed about recent events in the cryptocurrency space, here are the top three news stories from the past day.

Ripple Ordered to Pay Significant Penalties

According to a final judgment released yesterday, Ripple, the fintech giant based in San Francisco, is required to pay a civil penalty of $125 million to the SEC. The company must fulfill this obligation within 30 days of the judgment’s issuance. The SEC will retain the funds, along with any interest and earnings, until further court orders. This ruling marks a likely conclusion to Ripple’s ongoing legal battle with the SEC, which began in December 2020. Ripple CEO Brad Garlinghouse commented on this development via social media, noting that the court reduced the SEC’s original penalty request of $2 billion by nearly 94%, dubbing the outcome "a victory for Ripple, the industry, and the rule of law."

Saylor Reveals Bitcoin Holdings

Michael Saylor, co-founder of MicroStrategy, disclosed his cryptocurrency holdings in a recent interview with Bloomberg. He noted that approximately four years ago, he tweeted about owning around 17,732 Bitcoin, which is now valued at about $1 billion. Saylor has not sold any of his holdings since that time. He emphasized that, despite its price volatility, Bitcoin outperforms other investment options for long-term capital management. Saylor stated that the leading cryptocurrency has the potential to create "generational wealth" for families or businesses. He highlighted Bitcoin’s liquidity, saying, "You can liquidate it at any time, any amount, anywhere in the world or hold it for any duration without active management or business acumen."

ETFs Experience Surge with $98 Million in Inflows

After a period of stagnant growth, Ethereum spot ETFs have begun to show positive momentum again. Following a significant inflow of approximately $98 million on August 6, these ETFs experienced major activity after several consecutive days of outflows, primarily linked to Grayscale’s ETHE. The inflows on August 6 followed nearly $48 million in inflows on August 5. This trend appears to align with the overall market recovery following a recent downturn, bringing some optimism back to the community after a series of outflows. As of yesterday, the total net asset value of Ethereum ETFs reached $7.06 billion; however, it has since dropped to $6.63 billion due to further outflows.


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