XRP Hits Multi-Year High Following Major SEC News, Tron Founder Justin Sun Says He Could Offer to Buy TikTok, 2,816,572,700,000 SHIB Stun Binance in 24 Hours: Crypto News Digest by U.Today
2025-01-16
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U.Today presents the top three crypto news stories over the past day.
XRP surges to multi-year peak following major SEC news
According to a recent report by Reuters, the SEC might be considering freezing non-fraud cryptocurrency cases that are currently in the courts, with some cases potentially being dropped. As stated in the report, the regulator will start overhauling its crypto policies following the departure of SEC Chair Gary Gensler that will take place next week. The agency's new Republican majority, led by commissioners Mark Uyeda and Hester Peirce, aims to establish clearer rules for defining whether specific tokens qualify as securities. Following the news, the price of XRP surged to a multi-year high of $2.97, with Bitcoin approaching the $100,000 level. The Ripple-affiliated token is now continuing its rally, trading at highs of $3.35, up 17.65% over the past 24 hours, per CoinMarketCap. Meanwhile, the SEC is set to file its opening brief in its appeal against Ripple, and it remains uncertain if the appeals process will be halted.
"I could just offer to acquire TikTok": Tron founder Justin Sun
Justin Sun, the founder of Tron and a prominent figure in the crypto world, suggested on the X platform that he could rival Elon Musk by potentially acquiring TikTok. This comes following reports that Chinese authorities are considering selling TikTok's U.S. operations to Musk, who already owns X. Sun responded to an X post by user @DaoKwonDo, who wondered why no one from the crypto space has stepped up and offered to buy TikTok. "It would be a power move," wrote the user, adding: "We can either get someone like Justin Sun from Tron or a group of whales together and make it happen." Sun quoted this post and replied: "Alright, I could just offer to acquire TikTok, and everything would be resolved." Meanwhile, angel investor Anthony Pompliano noted that TikTok may shut down its U.S. apps unless the Supreme Court intervenes. Currently, the court is considering arguments over the law that is forcing TikTok's Chinese parent company, ByteDance, to either sell its American branch or have it banned in the USA.
2,816,572,700,000 Shiba Inu stun largest crypto exchange in 24 hours
Yesterday, Shiba Inu experienced a significant surge in transactions, with over 2.8 trillion tokens (2,816,572,700,000 SHIB) traded on Binance over the course of 24 hours. This spike is largely attributed to whale traders, although it remains unclear what specific motivations stand behind their activities. The high volume of transactions may indicate that traders are either opening positions in response to market trends or preparing to trade or to stake. Despite this activity, SHIB has struggled to break through critical resistance levels; at the moment of writing, SHIB is changing hands at $0.00002197, down 0.54% over the past 24 hours, per CoinMarketCap. Market analysts suggest that the Shiba Inu ecosystem needs to implement more strategies to boost the token's price, as current burn activities have not done much to increase SHIB’s value to levels anticipated by investors.