Bitcoin Gains 12%, Musk Accused of Pump And Dump, SEC Needs More Time With XRP

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Last Updated on 14 June 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The world’s biggest cryptocurrency leapt towards $40k overnight and is at the time of writing gaining more than 12%, changing hands for $39,600.

Analysts will be eyeing whether Bitcoin can close above the $40k level for two consecutive days at least before they call a possible breakout.

Advertentie.

Musk: Tesla will resume allowing Bitcoin transactions

Responding to a story in which a crypto CEO (of a company named Sygnia) accused him of a pump and dump scheme with the price of Bitcoin in particular and crypto in general, Elon Musk stated:

This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

The Tesla CEO then went on to more important things, such as tweeting more memes.

SEC Needs Two More Months

XRP would like to get on with its court case in which the SEC has pushed it. Ongoing for a couple of months now, the Securities and Exchange Commission has so far been unable to prove to the court why it deems XRP different from Bitcoin or Ethereum.

With a judge getting impatient and XRP eager to settle (and finally start its own 2021 bull run), strict timelines have now been set.

The SEC has now requested two more months to disclose emails and internal documents on Bitcoin, Ethereum and XRP in order to prove its case.

In a press release showing it’s demand to the court, the SEC said:

Making careful, good-faith determinations of applicable privileges, as is required in these circumstances, is a sensitive, time-consuming endeavor.

Ripple Labs is not amused to say the least.

hello.artmagination.com / Depositphotos.com