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How Coinbase vs SEC Ruling Could Influence XRP Case
After the Court of Appeals for the Third Circuit’s ruling partially in favor of Coinbase in its rulemaking petition lawsuit with the US Securities and Exchange Commission (SEC), lawyers tracking Ripple vs SEC lawsuit debate over precedent and clear crypto regulations.
The buzz is around another loss for SEC Chair Gary Gensler as another court states the US SEC’s actions in crypto-related lawsuits as “arbitrary and capricious.”
Pro-XRP Lawyers’ View on Implications for Ripple vs SEC Lawsuit
The United States Court of Appeals for the Third Circuit ruled that the SEC was unjustified in its denial of Coinbase’s rulemaking petition. Appellate court judges asked the regulator to provide a clear explanation of rules and guidelines that indicate digital assets are securities and with reasons.
Lawyer James Murphy, aka MetaLawMan, asserts the US SEC should hold off on any crypto rulemaking until the US Congress passes a market structure bill, clearing out the legal distinction between digital asset commodities and securities.
Lawyer Fred Rispoli reacted to Coinbase CLO Paul Grewal’s post “We just won our petition for a writ of mandamus at the Third Circuit.” Rispoli said Coinbase has lost almost every argument and the company’s only win was the court asked the SEC to provide sufficient reason for denying the petition.
However, he added that phenomenal concurrence by Judge Bibas is exactly what has appealed for in the 2nd Circuit Court. The statement focuses on how old rules from a century ago work for crypto. It reads:
“As I explain, its old regulations fit poorly with this new technology, and its enforcement strategy raises constitutional notice concerns.”
Fred Rispoli believes if the 2nd Circuit Court of Appeals decides to adopt this line of reasoning, then “SEC is done for good with crypto.” It means the court may also slam the SEC and may dismiss or extend the appeal as it reveals that the SEC failed to regulate in good faith.
Ex-SEC Lawyer’s Insights in Relation to XRP Case
Former SEC lawyer James Farrell revealed that the court ruled that any of the 3 rationales offered by the US SEC might suffice. These are “no need for rulemaking; want more info before rulemaking; or other resource priorities. But SEC had to pick 1 or more and spell out the why.”
He agreed that Judge Bibas’ concurrence was more supportive of the industry. However, the same judge also said “Some crypto assets are likewise nothing but creative schemes to evade securities regulations.”
Thus, the court hasn’t provided any clarity, which may depend on the SEC’s methodology used to classify some digital assets are securities.
Notably, lawyers agree that the ruling may apply in other courts if the majority panel of judges likes the reasoning in a sister court’s concurrence opinion.
Opening Brief in Ripple Vs SEC Lawsuit
The crypto industry and lawyers now await the U.S. SEC’s principal brief related to its appeals in SEC v Ripple lawsuit. It is scheduled to be filed by January 15. However, lawyers such as Jeremy Hogan and ex-SEC Marc Fagel believe pro-crypto Paul Atkins under the Trump administration may decide not to pursue the appeal further.
CoinGape has glanced at what could be expected from the opening brief by the U.S. SEC, as per Form C and outgoing SEC Chair Gary Gensler’s stance on crypto.
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While investors are bracing themselves for a Pi Network Price pump, one expert has predicted a start date for the rally. Cryptocurrency analyst Dr Altcoin says Pi Coin price will spike during the upcoming Consensus Summit, with Pi Network founder billed to deliver a keynote address.
Pi Network Price Eyes Massive Rally In May
According to an X post, cryptocurrency analyst Dr Altcoin is forecasting the start of a Pi Coin rally in mid-May. Dr Altcoin notes that investors can expect the start date of the Pi Network price during the Consensus Summit scheduled for May.
Dr Altcoin’s predictions differ from previous projections that tip the start of a Pi Coin rally toward late August. Investors previously hinged their hope for a price rally after the end of the Pi unlocking event, set to release 212 million Pi Coins.
However, Dr Altcoin is predicting the rally to begin much earlier in May, triggered by the momentum around the Consensus event. Dr Altcoin has previously revealed why Consensus 2025 will be pivotal for the Pi Network, given the sheer volume and calibre of attendees.
“I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14-16, 2025) rather than at the end of August when Pi unlocking significantly reduces,” said Dr Altcoin.
Several Factors May Delay The Start Date Of The Price Rally
Dr Altcoin’s prediction for the launch of the Pi Network price rally in May faces a raft of challenges. Right out of the bat, the Pi Core Team (PCT) is racing against the clock to approve KYB applications before the start of Consensus 2025.
Furthermore, Dr Altcoin says the launch of decentralized applications (DApps) on the network before Consensus 2025 will support a price rally. While the PCT achieves the milestones before Consensus 2025, other external factors are angling to adversely affect Pi Network prices.
Dr Altcoin has raised alarm over shady activity on Banxa that may trigger artificial volatility for Pi Coin Price. Keen on playing its part to stabilize prices, the PCT has begun purchasing Pi Coins on centralized exchanges, mopping up over 48 million coins.
Currently, Pi Network trades at the $0.6 mark, holding the price level for over a week as investors scan the charts for signals of a seismic rally.
Furthermore, Dr Altcoin is hinging his resolve for a rally on seven Pi Network pros, including accessibility and sustainability perks. The cryptocurrency expert name-checks its security features, low gas fees, and regulatory compliance.
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The altcoins sector has gained notable traction as Bitcoin and the broader financial market recovered recently. However, the latest data indicates that the whales are shifting their focus to these specific coins for now. Recent whale activity suggests a strategic pivot toward select altcoins with high growth potential.
These tokens, though under the radar, are now gaining serious momentum thanks to these massive inflows.
Top Altcoins That Whales Are Putting Their Bets On
While Bitcoin grabs headlines due to the robust BTC rally, the top altcoins are quietly stealing the show. According to blockchain analytics platform Lookonchain, whale wallets are actively accumulating three specific tokens, VIRTUAL, Worldcoin (WLD), and GAME. This movement indicates growing confidence in these assets, especially amid a broader market rebound.
In a recent post on X, Lookonchain disclosed that a single whale snapped up 2.53 million VIRTUAL tokens worth around $2.66 million at a price of $0.93 each. The altcoin, associated with metaverse-related infrastructure, has seen rising interest thanks to renewed speculation around virtual economies.
The same whale also scooped up 1.48 million WLD tokens, spending $1.73 million at an average of $1.02 per token. Worldcoin has remained a hot topic due to its ambitious identity-verification goals tied to AI-driven platforms. Whale accumulation here suggests growing belief in the project’s long-term utility.
Meanwhile, a much larger but lower-value transaction involved 6.47 million GAME tokens, acquired for just $299,000 at a mere $0.04 apiece. This indicates a possible bet on the gaming sector’s comeback, particularly with Web3 games gaining traction again.
Lookonchain also noted a smaller buy: 303,574 COOKIE tokens worth $40,700, priced at $0.13 each. While not as prominent as compared to the other altcoins, this modest purchase adds weight to the idea that whales are diversifying within small-cap tokens.
How Worldcoin, Virtual, & GAME Tokens Are Performing?
Worldcoin price today rose more than 24% and exchanged hands at $1.17 with its one-day volume rocketing 150% to $481 million. Notably, the crypto has touched a high of $1.19 from a low of $0.95 in the last 24 hours.
Simultaneously, given the whale’s accumulation, the other altcoins also recorded robust rallies today. It also reflects how these whale or large investors’ moves influence the broader market sentiment. VIRTUAL Price recorded a surge of over 34% to $1.10 and its trading volume soared 260% to $511 million.
Meanwhile, GAME price also jumped about 70% to $0.05, accompanied by a rocketing trading volume of 76% to $6 million. With its recent surge, the crypto has added more than 200% in the weekly chart while soaring around 121% over the last 30 days.
Also, the COOKIE price jumped more than 10% and exchanged hands at $0.1420 during writing, reflecting the investors’ shifting focus.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Leading digital asset exchange Binance recently released listing guidelines that have stirred the crypto community, especially supporters of Pi Coin. Following the exchange outlining more straightforward criteria for future listings, market participants are speculating on a potential onboarding of PI coin on the world’s biggest crypto platform.
Binance Reveals New Listing Standards
In its most recent statement, Binance announced changes to how it lists new tokens. The exchange has introduced a more structured process. It carefully evaluates the quality of each project and monitors the token’s market performance.
According to the update, the digital asset exchange broke down its listing process into three main paths: Alpha, Futures, and Spot listings. Each path includes thorough evaluations of topics ranging from user adoption and tokenomics to technical security and trading volume.
For new projects, Binance Alpha offers early exposure before a complete listing. Projects must prove strong fundamentals, including a defined user base, real-world use, and a sound business model. The crypto exchange also checks token distribution, ensuring tokens are not held mainly by insiders.
It is worth noting that technical checks are done to avoid risks like bugs or past security issues. Teams are also checked for background and compliance issues, like sanctions or financial irregularities.
Meanwhile, circulating projects that already trade on other platforms must show healthy trading volume and stable price movements. Binance also looks at liquidity, market cap, and the overall investor interest before moving such tokens into Futures or Spot listings.
These straightforward guidelines now make it easier for projects to prepare and aim for listing on the platform.
Does Pi Coin Have a Chance Now?
It is worth noting that earlier this year, Binance held a community vote where 86% of nearly 295,000 participants favored Pi getting listed. While this was not a formal listing, it showed strong community support.
CoinGape also reported that crypto expert Dr. Altcoin shared news about Pi. Pi resumed trading on BitMart after a one-month pause, which, according to the update, was due to KYB concerns.
Pi’s return to BitMart suggests that the project might be moving towards full compliance.
This, along with a loyal community and growing interest in the token, could strengthen its case for meeting Binance’s standards. It is crucial for trading activity, compliance, and user adoption.
Price Outlook and Market Sentiment
CoinMarketCap data shows that Pi Coin was trading at $0.6470 at the time of writing, down 0.52% in the last 24 hours.
The coin has had trouble staying above the $1 mark amid recent market uncertainty. However, it has started showing signs of stabilizing as more people are paying attention to Pi now.
In line with the Binance exchange and other related updates, CoinGape reported that Grok3 believes this PI could reach $5 by 2026, with a bull case projection of $20 by 2030.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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