Cryptocurrency See Mild Gains After Ripple Labs’ Penalty
Major cryptocurrencies had modest improvements on Thursday, August 8, according to BlockBeats, after it was announced that Ripple Labs Inc. had been fined $125 million. The corporation sees this as a win over the Securities and Exchange Commission (SEC) of the United States.
While Ethereum, the second-largest cryptocurrency by market capitalisation, witnessed a surge of about 5%, Bitcoin saw a rise of up to 4.5%, topping $57,600. Both tokens are still far lower than they were a week ago, even with these advances. Global stock markets had increased sell-offs during the same period, which was a reflection of worries about the future of the economy and tensions in the Middle East. There are also concerns that significant investments in AI might not provide the anticipated benefits.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.