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Ripple, Binance and Pepe Coin Drive Frenzy
Another week ends in the global crypto realm, with Ripple, Binance and Pepe coins triggering a flurry of speculation among crypto market participants. The ongoing lawsuit between Ripple and the US SEC took exciting turns this week as Binance further simplified its crypto offerings. Pepe coin has emerged as the talk of the meme coin industry, painting an optimistic portrait of its future.
Here’s a closer look at this week’s top headlines that attracted significant attention in the global crypto space.
Ripple vs US SEC: Here’s Everything That Happened
Speculation that the lawsuit between Ripple and the US SEC is about to end has increased phenomenally this week, as Ashley Prosper, an expert in the XRP Processargued that the SEC’s conclusive response during the remedies phase had significant importance to the case.
The United States Securities and Exchange Commission (SEC) submitted its final response in the solutions phase on May 6. pro-XRP lawyer James Murphy criticized the response, calling it useless and lacking substantial arguments about the financial harm of institutional investors.
Meanwhile, broader industry sentiment also suggested that the SEC’s arguments in the Response Summaries for Remedies and Final Judgment were weak, as CLO Stuart Alderoty Ripple reiterated. Ripple CEO Brad Garlinghouse, on the other hand, shared vital insights into key trends surrounding Curlingsuch as the company’s operational efforts, recent developments within the XRPLstrategies for the long lawsuit against the US Securities and Exchange Commission, etc.
The American blockchain payments company also appears to be considering launching a stable coin in June, as suggested by CTO David Schwartz. In the meantime, XRP, the cryptocurrency backed by Ripple Labs, continued to trade slowly this week.
Binance Crypto Offerings
Whereas Binance, one of the most renowned crypto exchanges in the world, has embarked on a plethora of crypto-related developments this week. Reportedly, the US DoJ (Department of Justice) summoned the FRA (Forensic Risk Alliance) to monitor the activities of Binance Holdings following its money laundering saga.
Meanwhile, Binance-related wallets were observed to have burned 222 million Terra Luna Classic Tokens (LUNC) this week. In other CEX pioneer news, Binance CEO Richard Teng has issued a call for the release of wrongfully detained people. Binance Executive Tigran Gambaryan.
Advance, Binance Futures, the crypto derivatives arm of Binance, announced that it is delisting USDⓈ-M perpetual contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. The company also announced the removal of all BIDR (stablecoin backed by the Indonesian rupiah) products and services on your platform.
Amid these chronicles of exclusion, Binance revealed that it would cease support for the USDⓈ-M IDEXUSDT, SLPUSDT and GLMRUSDT USDⓈ-M perpetual contracts, followed by other pairs. Simultaneously, the exchange announced the launch of Notcoin (NOT) as its 54th project in Binance Launch Pool.
Interestingly, Binance also became a FIU (Financial Intelligence Unit) registered cryptocurrency exchange in India this week, further consolidating its position in the industry.
Read too: Tron Founder Justin Sun Wraps 2 Million EigenLayer Airdrop Tokens
Pepe Coin sparks optimism
Amidst the aforementioned chronicles, Pepe coin has emerged as the hot topic of the meme coin sector. A smart money address was observed to have accumulated 143 billion PEPE this week, generating immense investor optimism regarding the meme coin.
Despite the token already being on the rise, accumulations around the frog themed meme token has increased in the last seven days. A new whale was observed bagging 357 billion PEPE from Binance, followed by numerous crypto market investors accumulating 650 billion Pepê Currencycollectively.
The phenomenon helped the token gain significant traction despite broader market turmoil and market sentiment towards the Pepe coin being overcome. Furthermore, a post-BTC halving price recovery is yet to come.
Read too: Smart money flocks to PEPE and these top cryptocurrencies, a recovery ahead?