{"id":15571,"date":"2025-02-28T18:02:03","date_gmt":"2025-02-28T18:02:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15571"},"modified":"2025-02-28T18:02:03","modified_gmt":"2025-02-28T18:02:03","slug":"weekly-recap-bitcoins-tumble-and-the-secs-retreat","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15571","title":{"rendered":"Weekly Recap: Bitcoin\u2019s Tumble and the SEC\u2019s Retreat"},"content":{"rendered":"
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Two big themes dominated the crypto news this week: sagging asset prices and the official end of the SEC\u2019s enforcement \u201cmania.\u201d<\/p>\n

On the former: Bitcoin, which rose steadily from about $70,000 following November\u2019s election, fell precipitously. In early-hours Feb. 28, the price<\/a> had dipped below $80,000. CoinDesk\u2019s Market Index, which tracks the broader digital assets market, has fallen 12% in the last five days.<\/a><\/p>\n<\/p>\n

CoinDesk\u2019s Markets Editor Omkar Godbole analyzed the daily price action, tracking ETF outflows<\/a>, historical analogies<\/a>, and macro correlations<\/a>.<\/p>\n<\/p>\n

On the regulatory front, the SEC dropped major cases against Uniswap<\/a>, Coinbase<\/a>, and MetaMask (ConsenSys)<\/a>. It also sought to end a fraud case against TRON and Justin Sun<\/a>. Our regulatory team of Nik De, Jesse Hamilton and Cheyenne Ligon were all over the news, as usual. Meanwhile, it looks like the SEC will not be treating memecoins as securities<\/a>, Ligon reported.<\/p>\n<\/p>\n

Stablecoins were another big theme, as issuers argued over the parameters of a new law covering the most used form of digital assets. Jeremy Allaire, co-founder and CEO of stablecoin issuer Circle, said USD-backed stablecoin issuers should be required to register in the U.S.<\/a>, in a clear tilt at Circle\u2019s biggest rival, Tether (regulatory reporter Camomile Shumba had that). Meanwhile, Bank of America said it planned to launch its own stablecoin<\/a>, Helene Braun wrote.<\/p>\n<\/p>\n

In other important news, Ian Allison reported exclusively<\/a> that BitMEX, an OG trading platform, was up for sale. Bybit passed blame<\/a> for its $1.5 billion hack (Oliver Knight reported). Ethereum Foundation\u2019s executive director Aya Miyaguchi said she was stepping down <\/a>(Margaux Nijkerk had the news). And, Sam Reynolds explained on how investors in Mainland China may soon be able to get access to bitcoin.<\/a><\/p>\n

All these stories looked likely to run into next week\u2019s coverage as crypto continues to provide plenty to write about. Stayed tuned for our continuing reporting. Happy Weekend.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Two big themes dominated the crypto news this week: sagging asset prices and the official end of the SEC\u2019s enforcement \u201cmania.\u201d On the former: Bitcoin, which rose steadily from about $70,000 following November\u2019s election, fell precipitously. In early-hours Feb. 28, the price had dipped below $80,000. CoinDesk\u2019s Market Index, which tracks the broader digital assets […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15571","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15571"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15571\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}