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When Ripple CEO Brad Garlinghouse shared during the Digital Asset Summit stage that the SEC plans to plan an appeal against Ripple, participants from North Javits’ main auditorium gave them a standing ovation.
The SEC appeal was one of the remaining major cases against crypto players after the improved securities regulator dismissed the lawsuit against Coinbase and terminated the probe to other segment companies.
It was a “painful journey,” Garlinghouse said it was spurred by agents “trying to bully” companies in the segment.
“Like we said… I really deeply believed that we were on the right side of the law and on the right side of history,” he added.
BTC has grown nearly 2% over the last 24 hours ($84,250 at 2pm ET). XRP skyrocketed 12% over the time frame to $2.50.
Later in DAS, Paraphy founder Ben Forman asked 10T holder CEO Dan Tapiero whether changes in US management (and that could affect it within the code) were overestimated by the market. Do you think it’s a little hotter than steak?
Tapiero’s reaction was clear. “I think that is the most important change in the history of cryptography after Satoshi’s white paper.”
What is another way to put it? “This was the most dramatic face I can’t remember on any subject,” he said.
Those who think Bitcoin will fall to $80,000 meant the bull market was over, and Tapiero could only say “very funny.”
Bitise Cio Matt Hougan said in a panel Tuesday afternoon that he would remain “very confident” in his $200,000 Bitcoin price forecast by the end of 2025.
He cited “a structural inconsistency between supply and demand” before throwing away some numbers. Approximately 165,000 BTC will be mined this year. ETFs and companies purchased 500,000 and 250,000 BTC, respectively, last year. This bought the level Hougan expects to last in 2025.
And then there’s a government that can buy anywhere from zero to one million bitcoins.
Will I not be getting $200k by December? “If we’re in a serious recession and the government doesn’t blink, we’ll force us to go through a period of austerity,” Hogan said. “That’s because it puts pressure on risk assets.”
Eric Peters, who heads Coinbase Asset Management and One River Asset Management, said there is likely a FOMO aspect that the Institutional Investment Committee should consider in order to weigh crypto assets.
They look at US Bitcoin Reserve, see sovereign fund investments, see that it is built on Ethereum, and hear more about tokenization.
“And (they say) ‘Oh, my God, we actually own nothing,” he said. “‘Nothing’s wrong.’
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