COINDESK DAILY: Bitcoin's 200-Day Average Nearing Record High; Ripple Rejects SEC’s Ask of $1.95B Fine

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4.7 • 698 Ratings

🗓️ 23 April 2024

⏱️ 2 minutes

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Summary

Host Jennifer Sanasie breaks down the latest news in the crypto industry from recent actions in bitcoin's 200-day average to Ripple Labs rejecting SEC’s ask of $1.95 billion fine. To get the show every day, follow the podcast here. "CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as bitcoin's 200-day average is on track to challenge its previous peak of $49,452 from February 2022. Plus, Ripple Labs has opposed the SEC’s proposal seeking a nearly $2 billion fine against the company and Crypto.com is postponing its South Korea Launch. - Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com. - This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Bitcoin's 200-day average is approaching a record high. It's on track to challenge its previous
0:07.3	peak of $49,452 from February 2022. This is a strong bullish indicator with past data
0:15.5	showing the most intense phase of the bullish cycle unfolds after the average surpasses its previous peak.
0:22.8	In November 2020, six months after the third halving, Bitcoin's 200-day simple moving average rose to its
0:28.8	then highest. And by mid-April 2021, Bitcoin had rallied to four and a half times. Bitcoin was at around
0:35.9	$66,500 as of 10 a.m. Eastern time. And the CoinDesk
0:40.9	20 index was at 2,329 points relatively unchanged today. Ripple Labs filed its opposition on Monday
0:49.4	against the U.S. SEC's proposal to ask a New York judge to impose a nearly $2 billion fine against the company.
0:56.1	Ripple's lawyers wrote that the remedial requests are more evidence of the administrative
1:00.3	overreach that has beset the case and in turn asked that the court deny the SEC's request
1:06.0	and impose a civil penalty of no more than $10 million.
1:10.3	Ripple Labs is the company behind the XRP ledger blockchain.
1:15.2	And crypto.com postponed their South Korea launch after reports of a money laundering probe.
1:20.6	A local news outlet reported on Monday that the exchange was facing an urgent on-site inspection over money laundering concerns.
1:27.5	The report said that South Korea's financial intelligence unit under the Financial Services
1:32.1	Commission had discovered issues related to anti-money laundering data.
1:37.1	Crypto.com shared a statement with CoinDesk that said the exchange, quote, maintains the
1:41.8	highest anti-money laundering standards in the industry.
1:44.9	They added that they will use the opportunity to educate regulators on their policies and
1:50.6	processes. That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time.

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