The SEC has been making moves to re-evaluate its approach to regulating crypto after years of a "regulation by enforcement" approach.
The prior rise in memecoin activity was driven by a pushback against the regulatory crackdown on utility token and NFT projects, they said.
In every market cycle, the altseason is an anticipated period for investors marked by a general altcoins’ price outperformance against Bitcoin. However, there have been many doubts over an altseason in the current bull run with crypto analysts citing a surge in the number of altcoins over the last four years. Interestingly, Bitwise Chief Investment Officer (CIO) Matt Hougan has backed the potential of a brewing crypto altseason. The key crypto figure and market pundit has stated that certain DeFi developments are pointing to a robust price surge for the crypto market. Related Reading: Altseason At Risk? Expert Believes Ethereum Must Hold $2,600 To Sustain Momentum DeFi Boom Incoming: Jupiter, Ondo, Uniswap Lead Charge To Altseason Via an X post on February 21, Hougan listed several developments, especially in the DeFi industry that hint at an incoming altcoin bull rally. Firstly, Hougan references the US Securities and Exchange Commission (SEC)’s latest decision to drop its lawsuit against the Coinbase Exchange. In June 2023, the US regulator charged Coinbase to court over several alleged securities violations including serving as an unregistered exchange and broker. However, in a sharp turn of events, the SEC has decided to withdraw its complaint ending a 2-year long legal battle The Bitwise CIO also mentions DEX aggregator Jupiter’s recent move to activate a fee structure introducing a minimum of 0.01% fees on all platform swaps which creates a more efficient operational model. Another development raised by Hougan is Ondo Finance’s announcement of the Ondo Global Market, a tokenization platform designed to introduce on-chain exposure to US securities such as stocks, bonds, and exchange-traded funds listed on the NYSE and NASDAQ. Finally, Hougan also spotlights the launch of the Unichain – an Ethereum-layer 2 solution designed by Uniswap labs to improve liquidity, cross-chain operatalibility and also significantly reduce transaction fees. In reality, these are all singular developments. However, Hougan explained these developments can be attributed to the ongoing efforts by the current US Government to create a “fair regulatory environment.” In doing so, crypto companies and DeFi projects can run effectively extending their reach beyond the digital asset space. The potential of this scenario is likely to encourage investor engagement serving as an early indicator of altseason. In particular, Matt Hougan explains the DeFi market presents a lot of hidden potential to influence the non-crypto markets under the right conditions. Crypto Market Overview At press time, the crypto market cap is valued at $3.12 trillion after a 1.78% decline in the past day. Bitcoin maintains strong market influence with a dominance of 60.4%, followed by Ethereum (10.2%) and other altcoins (29.5%). Meanwhile, the Altseason index is at 31 strongly in favor of the premier cryptocurrency. Related Reading: Bitcoin Dominance Tipped To Hit 57% — Altseason Incoming? Featured image from iStock, chart from Tradingview
Brian Armstrong, the CEO of Coinbase, has recently made an audacious statement regarding Bitcoin that has caused quite a stir in the crypto industry. He recently proposed that Bitcoin could be regarded as “somewhat of a meme coin,” which sparked a debate among enthusiasts, analysts, and investors. Related Reading: XRP Bulls Return—Will This Be the Breakout to $3? The Power Of Collective Belief Like meme currencies, Armstrong pointed out that the value of Bitcoin is essentially derived from popular or collective belief. He explained that unlike conventional assets, Bitcoin lacks inherent value connected with actual objects or direct use. Instead, its value is swayed by societal trust and the shared perception of its significance. He also likened Bitcoin to the US dollar, noting that although the dollar’s value has persisted mostly due to mass acceptance and faith in its purchasing power, and it is not connected to the gold standard. This comparison highlights Bitcoin’s status as a store of value rather than a commodity with inherent worth. The Emergence Of Meme Coins Armstrong did not intend to undermine Bitcoin’s credibility; however, his statements underscored the expanding influence of meme coins. Shiba Inu (SHIB) and Dogecoin (DOGE) are two cryptocurrencies that have amassed substantial followings despite possessing minimal fundamental utility. On memecoins… Memecoins have generated a lot of buzz recently, and I’ve gotten some questions on how I think about them. I am personally not a memecoin trader (beyond a few test trades), but they’ve become hugely popular. Arguably, they’ve been with us since the beginning –… — Brian Armstrong (@brian_armstrong) February 19, 2025 For example, Dogecoin, which originated as a joke, experienced a price increase of over 15,000% in 2021 as a result of social media publicity and endorsements from prominent figures such as Elon Musk. Shiba Inu reached an all-time market cap of around $40 billion. This trend is a reflection of how sentiment and viral appeal can push asset valuation up, much like what Armstrong suggests applies to Bitcoin. Bitcoin’s Status Remains Unchallenged Armstrong agreed that, in spite of the comparison, Bitcoin is still the most well-known cryptocurrency. The crypto continues to dominate institutional adoption, regulatory discussions, and long-term investment strategies. Meanwhile, the legitimacy of Bitcoin has been strengthened even more by the trust big financial firms like BlackRock and Fidelity have in the crypto asset. Its limited supply of 21 million coins and decentralized nature also sets it apart from the typical meme coin phenomenon. Related Reading: Solana Faces Double Trouble: 55% Network Drop And Price Woes A Conversation Far From Over Armstrong’s statement has fueled discussions about how cryptocurrencies derive their value. Some critics argue that equating Bitcoin to a meme coin undermines its role as “digital gold,” while others believe it accurately describes the evolving nature of financial assets in the internet era. Featured image from PC World, chart from TradingView
The makeover of the U.S. Securities and Exchange Commission appears to be well underway following news that the agency plans to dismiss its years-long case against Coinbase.
The agency's withdrawal of the lawsuit could boost crypto prices, marking a milestone in U.S. regulatory oversight for the digital asset industry.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
More tokens could be added to exchanges, increasing their trading revenue. This might also open the floodgates to crypto firms' IPOs in the U.S.
The company says the commission will vote on a deal negotiated by staff to abandon the enforcement case at the core of the agency's previous crypto stance.
The potential dismissal would see an end to the alleged securities law violation lawsuit launched against Coinbase in 2023.
Coinbase CEO Brian Armstrong has warned against insider trading linked to memecoins, emphasizing that such activities are illegal and could lead to prison time. In a post on X on Feb. 19, Armstrong highlighted concerns over insider trading in the memecoin market. He cautioned that some traders had crossed legal boundaries, making it clear that […]
The post Coinbase CEO warns memecoins ‘gone too far’ amid insider trading and massive investor losses appeared first on CryptoSlate.
A second source said U.S.-listed exchange Coinbase has also been kicking the tires of Deribit.
The Blockchain Association is calling on Congressional leadership to vote for a legislative measure to overturn a controversial tax rule.
The Bitcoin Layer 2 network's capacity currently stands at around $500 million after strong growth in 2024.
Retail traders are showing significant interest in alternative cryptocurrencies beyond major assets.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Crypto.com is one of the racing organization's longest-term partners, but Coinbase's logo will make its debut on the track this year.
The SEC filed a motion Friday saying its new crypto task force could help it resolve its ongoing case against Coinbase.
The legal feud centers on whether digital assets should be classified as securities or are outside the agency's remit.
The broker raised its Coinbase price target to $475 from $400 while maintaining its market outperform rating on the stock.
Coinbase closed 2024 on a strong note, reporting $2.3 billion in revenue for the fourth quarter, According to the firm’s Q4 2024 Shareholder Letter, this figure exceeded market projections of $1.87 billion and marked an 88% increase from the previous quarter. The Brian Armstrong-led exchange saw a 172% jump in trading revenue, reaching $1.6 billion […]
The post Coinbase’s 2024 revenue soars to $6.6 billion as international regulatory wins pay off appeared first on CryptoSlate.
The crypto exchange benefited from a major bull move in crypto during the fourth quarter surrounding Trump's election victory.
A Washington D.C. district judge has allowed Binance and the SEC to stay their legal dispute for the next 60 days.
Year over year, the crypto exchange's revenue rose to $2.3 billion in Q4 as COIN stock surged 110% over that time period.
The exchange would be following in the steps of Binance and Bybit if it manages to secure a license.
Coinbase is working on returning to the Indian market, TechCrunch reported, citing sources familiar with the matter.
The popular trading platform said revenue for fourth quarter rose 115% from last year, mainly driven by crypto.
The crypto exchange reports fourth quarter results after the close on Thursday.
BTC buyers over Binance seem to be leading the BTC price action ahead of the CPI release.
Coinbase has accumulated $300M+ in ETH, which is more than 2x all of Base's ETH earnings over time," Base member Kabir.base.eth said on X.