U.Today - U.Today has prepared a summary of the top three news stories over the weekend.
Brad Garlinghouse: SEC and US government to get $50 million from Ripple each — in XRP?
On Friday, April 11, Ripple CEO Brad Garlinghouse appeared on the Fox Business show "The Claman Countdown" to discuss the settled lawsuit with the SEC following the appointment of a new chairman. Garlinghouse highlighted the positive change in the U.S. government’s stance on crypto, while also pointing out a key area in its regulation that still needs clarification. As for the $125 million fine that Ripple was meant to pay to Gensler’s SEC, Garlinghouse stated that the company had put that sum in escrow for the future payment, but now it is taking most of those funds back out, including the interest that has been earned along the way. Ripple CEO said that the agency will receive $50 million from that sum, and the U.S. government will get another $50 million. "We’ve even talked about making that available in XRP," he said.
XRP bulls just got confirmation they’ve been waiting for
While the main focus of the XRP community has recently been on such major topics as the XRP ETF and the SEC’s legal battle with Ripple, there was one more important event that XRP bulls have been waiting for. It is XRP’s technical shift above the middle line of its Bollinger Bands on the daily chart, which occurred on Sunday, April 13. The middle band serves as a crucial reference point; staying above it points to a shift toward bullish sentiment, which is viewed as a confirmation by many trend watchers. Following a series of steady candles climbing off recent lows, XRP’s performance has caught the attention of analysts. Currently up over 14% for the week and trading above $2.10, there are indications that XRP may be forming a higher base, with the upper Bollinger Band at $2.40 serving as a potential target. At press time, XRP is trading in the green zone at $2.14, per CoinMarketCap data.
$578,646,289 Bitcoin withdrawal stuns major U.S. exchange Kraken
Kraken, one of the biggest crypto exchanges in the U.S, has recently been stunned by a massive withdrawal of Bitcoin. As reported by Whale Alert on April 11, 7,002 BTC, worth $578,646,289 at the moment the transfer took place, left the exchange to an unknown wallet. However, thanks to Arkham’s data, it was revealed that the receiver address, "bc1qx85," has a small amount of BTC worth just $100 from Kraken three weeks ago. It is interesting to note that after receiving this initial transaction, the wallet made its own transfer to Kraken, which indicates a two-way exchange with the platform’s cold wallet. Recent transfers have also been made from the cold wallet, rather than the deposit address or Kraken’s hot storage. This suggests that the wallet may actually belong to Kraken itself and not an external investor. Thus, it appears that the transfer was simply an internal Kraken shuffle.This article was originally published on U.Today