The issue of which cryptos are securities and which are commodities and whether a single currency can be each at different times is not settled, although bitcoin seems to be beyond the SEC’s reach.
Crypto prices fell in the days following the suits, with the market’s value reaching a nadir around $1.06 trillion on June 13. The BlackRock news on June 15 kindled a rebound that gained power this week., which rose 31% on Friday and 66% for the week.
is a built on the same blockchain as bitcoin, but it can process transactions much more quickly. That makes it faster and cheaper to use, but at the potential expense of security., the fourth EDX-listed currency—which, like bitcoin cash, is an offshoot of bitcoin—was up 5.4% on Friday and 19% for the week.
On Wall Street, crypto mining stocks posted notable gains. Marathon Digital was up 7.4% for the day and 27% for the week, Hive Blockchain gained 7% and Hut 8 Mining 5% . notched a daily gain of 6.9% and is up 11% for the week. The exchange is also 4.7% above its level before the SEC suit was announced on June 6.
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