🌙 XRP and Solana Surge

Heightened volatility rocks the cryptocurrency market ahead of Donald Trump’s inauguration on Jan. 20.

Author

Mike Gavela
January 16, 2025

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Crypto Roundup - January 16

In the recent cryptocurrency market dynamics, there has been a notable shift with XRP and Solana experiencing significant movements. XRP is at the center of a new legal development as the SEC has appealed a previous ruling regarding its classification, seeking a reversal that might redefine its regulatory status. Meanwhile, Solana has seen remarkable growth, outpacing Ethereum with a 24-hour decentralized exchange (DEX) volume of $3.8 billion and attracting over 7,600 new developers in 2024, demonstrating its increasing influence and adoption in the crypto ecosystem. Furthermore, in South Korea, the Upbit crypto exchange is facing a potential suspension due to alleged violations in its KYC processes, reflecting the tightening regulatory scrutiny in global cryptocurrency markets.

Top Stories

  • SEC Appeals Ripple Ruling: The SEC is challenging a court decision on XRP's classification, potentially impacting its regulatory treatment.

  • Solana's Market Achievements: Solana surpasses Ethereum with $3.8 billion in DEX volume and significant developer engagement.

  • Upbit Faces KYC Scrutiny: South Korea's Upbit may suspend operations over non-compliance with KYC regulations​

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TOP STORIES

XRP and Solana Surge as Bitcoin and Ethereum Slide - "The Defiant"

Heightened volatility rocks the cryptocurrency market ahead of Donald Trump’s inauguration on Jan. 20.

thedefiant.io/news/markets/xrp-and-solana-surge-as-bitcoin-and-ethereum-slide

SEC Appeals Ripple Ruling, Seeks Reversal on XRP Classification - Decrypt

While the regulator already filed its appeal in mid-October, Wednesday’s opening brief represents a formal step in the appellate process.

decrypt.co/301226/sec-appeals-ripple-ruling-seeks-reversal-on-xrp-classification

Upbit crypto exchange faces suspension in South Korea over alleged KYC violations

Upbit, South Korea’s largest cryptocurrency exchange, is facing potential regulatory sanctions for alleged Know Your Customer (KYC) violations.

www.fxstreet.com/cryptocurrencies/news/upbit-crypto-exchange-faces-suspension-in-south-korea-over-alleged-kyc-violations-202501161514

FUNDRAISING

OTHER HEADLINES

Dubai to Open World’s First ‘Crypto Tower’ by 2027 - "The Defiant"

The 17-story Crypto Tower is set to become a hub for blockchain, Web3, and DeFi companies.

thedefiant.io/news/regulation/dubai-to-open-world-s-first-crypto-tower-by-2027

Coinbase Restarts Bitcoin-Backed Loans via Ethereum Network Base - Decrypt

Centralized crypto exchange Coinbase now offers Bitcoin-based loans through Morpho, a lending protocol on its Ethereum layer-2 network, Base.

decrypt.co/301339/coinbase-bitcoin-loans-ethereum-network-base

USDD 2.0 has no whitepaper, no governance, and 20% yield

Justin Sun has announced that USDD 2.0 is launching soon, but details about what this new version will entail are sparse.

protos.com/usdd-2-0-has-no-whitepaper-no-governance-and-20-yield

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