There were no significant updates from the ongoing SEC v Ripple case to trigger the dial.
XRP had a volatile session regarding Fed Fear and the SEC vs. Ripple Silence
The lack of material updates from the SEC v Ripple case has allowed investors to track the broader crypto market.
Fed concerns gripped global financial markets as US markets reopened after the holiday. The new dollar affected riskier assets as investors await the minutes of the Federal Open Market Committee meeting today. Tight minutes and better-than-expected US economic indicators will test the support of riskier assets today.
US ISM and JOLT manufacturing PMI vacancies will be in focus ahead of the FOMC meeting minutes.
While stats, minutes, and the NASDAQ ticker will provide guidance, the SEC v Ripple status remains the main driver.
It’s a busy start to the year. Today, non-parties must submit motions to close any abbreviated provision materials that differ from the revisions and seal treatments requested by the parties. More importantly, both parties will file objections to Omnibus’ proposal to Seal by Jan. 9 and Dubber Motions by Jan. 13.
While the filings will attract interest, investors continue to await two court decisions that could determine the outcome of the case and the future of the SEC as a cryptocurrency regulator.
Historical judgment regarding William Hinman’s speech-related documents. The Securities and Exchange Commission seeks to protect selected content from the public. After more than half a dozen failed attempts to keep the documents from being made public, the latest move may be a last ditch effort before considering a settlement.
As a matter of background, former SEC Director of Corporate Finance William Hinman said that Bitcoin (BTC) and Ethereum (ETH) are not securities. The controversial issue in the letter concerns Hinman’s relationship with Simpson Thacher, who is part of a group promoting Enterprise Ethereum. After leaving the SEC, Hinman returned to Simpson Thacher.
The second ruling relates to summary judgment responses.