Top Stories of The Week
Australian fintech Finder wins court battle over crypto yield product
The Australian Federal Court ruled in favor of fintech company Finder.com, clearing it and its yield-generating product, Finder Earn, in a legal battle with the Australian Securities and Investments Commission (ASIC) that lasted almost three years.
In a Thursday court decision, Justices Stewart, Cheeseman and Meagher confirmed a previous judgment that Finder Wallet and Earn complied with consumer financial laws.
The federal court “confirmed the initial finding that Finder Earn was not a financial product,” Finder said in a Thursday blog post.
BitMine gobbles over $2B in ETH in 16 days amid treasury arms race
Bitcoin mining firm BitMine Immersion Technologies has bought up over $2 billion of Ether in just 16 days, retaking the lead among a flurry of newly formed Ether treasury companies.
BitMine said in a statement on Thursday that in the last 16 days, it had bought up 566,776 Ether, worth over $2.03 billion.
Tom Lee, the managing partner of FundStrat and the chairman of BitMine, said after the latest buying spree, the company is “well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”
BitMine’s aggressive buying spree signals a growing interest from institutions in Ethereum.
XRP price drops 19% but analysts say it’s a ‘healthy correction’
XRP price dropped 12.5% on Thursday, declining in tandem with the broader crypto market, which slipped 3% over the 24 hour period to $3.79 trillion.
Despite this correction, analysts are terming this a “healthy pullback,” with double-digit XRP price targets still in play.
XRP’s price dropped as much as 19% to an intra-day low of $2.95 on Thursday from its multiyear high of $3.66, data from Cointelegraph Markets Pro and TradingView shows.
Cascading liquidations and thinning liquidity fueled XRP’s drop as over-leveraged longs got flushed across the board.
Hulk Hogan, Ozzy memecoins soar as tributes roll in over icons’ deaths
Memecoins inspired by the late wrestling legend Hulk Hogan and Black Sabbath rocker Ozzy Osbourne skyrocketed as tributes flooded over the two popular icons’ deaths this week.
Terry Bollea, better known by his wrestling ring name Hulk Hogan, was reportedly pronounced dead in a hospital on Thursday at the age of 71 after medics arrived at his home to answer a call about a possible cardiac arrest.
This comes just days after Ozzy…
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