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Thailand Moves to Expand Crypto ETFs Beyond Bitcoin

by admin October 2, 2025

Thailand’s Securities and Exchange Commission said it is preparing to expand its crypto exchange-traded fund plans beyond Bitcoin, with new products expected to launch early next year.

The rules are being drafted with other government agencies, and the ETFs will be offered by local mutual funds and institutions, according to a Bloomberg report.

More Choices for Investors

Speaking in an interview on Wednesday, Pornanong explained the regulator’s direction: “Our possibility now is to broaden the criteria for the crypto such as a basket of cryptocurrencies. We want to have a broader supply of those crypto assets in the ETFs.” She noted that the goal is to give investors more choice while supporting demand for digital diversification.

Meanwhile, Thailand has been stepping up its efforts to become a regional hub for digital finance. Policymakers are rolling out measures that make tokenized products part of mainstream investment options.

Officials believe this could bring in more participation from younger investors at a time when the Thai stock market has fallen by 7.6% this year. However, regulators also recognize that new products may carry higher risks, so they are working to improve oversight at the same time.

How Investors Buy Crypto Today

Currently, Thai investors who want exposure to cryptocurrencies can either buy tokens directly or invest in funds managed by licensed asset managers that put money into overseas crypto ETFs. The new framework would mark the first time domestic investors could access a broader range of digital assets through local funds.

“Some investors, especially young people, prefer to have exposure in cryptocurrencies in their portfolios as a way to diversify,” Pornanong said. “One of our main tasks is to facilitate that demand.”

The momentum around digital assets has been rising across Thailand’s financial sector. Binance Holdings Ltd. has been targeting growth in the market, while Kasikornbank Pcl is also building out crypto operations. Former Prime Minister Thaksin Shinawatra, leader of the Pheu Thai Party, continues to be one of the most vocal supporters of cryptocurrencies in the country.

Alongside product expansion, the SEC is pushing for a bill to expand its enforcement powers. The proposal would allow the regulator to suspend company transactions if irregularities are suspected and investigate cases such as insider trading directly, rather than relying on limited police resources.

Pornanong said the draft has already passed the prime minister’s law-drafting body, and the SEC is in talks with the new government to speed up parliamentary approval. “Speedy enforcement against wrongdoers will definitely revive confidence in our oversight of the capital markets,” she said.

Also Read: Cronos, Morpho And Crypto.com Team Up On DeFi And Tokenization

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October 2, 2025 0 comments

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BREAKING: Bitcoin Reclaims $120K. Is ATH Next?

by admin October 2, 2025

Bitcoin, the flagship cryptocurrency, has reclaimed the $120,000 level for the first time since Aug. 14 on the Bitfinex exchange.

The leading cryptocurrency is currently changing hands at $120,020 on the Bitstamp exchange, steadily approaching its current record high of $124,128.

The top coin has seen a relentless rally amid the ongoing U.S. government shutdown, which has seemingly bolstered the case for a non-sovereign safe haven.

How high can Bitcoin surge during ‘Uptober’?

According to Polymarket bettors, there is a 35% chance of Bitcoin hitting $130,000 this October. At the same time, Bitcoin is expected to top $126,000 by the vast majority of market participants.

There is also a 4% chance of the leading cryptocurrency surging all the way to $150,000 during this month.

The odds of Bitcoin skyrocketing to $200,000 within a single month currently stand at just 1%.

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October 2, 2025 0 comments

GameFi Guides

BNB Climbs 3.5% as Fed Rate Cut Bets Fuel Rally Past Key Resistance

by admin October 2, 2025

BNB rallied more than 3.5% in the last 24 hours, tracking broader gains across the crypto market as expectations of a Federal Reserve rate cut firmed.

The token rose from a session low of $1,017.44 to more than $1,050, marking a breakout above key resistance levels in the session. The rise comes on the back of an unexpected drop in U.S. private payrolls that adds to a growing list of signals that the Fed may begin easing monetary policy sooner than expected.

With official jobs data paused due to the ongoing U.S. government shutdown, traders have leaned heavily on the weak ADP report, which showed a 32,000 job loss in September against expectations for a gain. Derivatives markets now price in near certainty of a 25 basis point cut later this month.

BNB’s price action mirrored that sentiment shift. After dipping mid-session, the token bounced off the $1,020 support level and climbed steadily into the close, driven by volume that exceeded the 24-hour average, according to CoinDesk Research’s technical analysis data model.

Traders pushed BNB through the $1,035 resistance in the rally, which saw the broader crypto market move up 2.25%, as measured by the CoinDesk 20 (CD20) index.

BNB’s outperformance of the wider market reflects token-specific catalysts. Earlier this week, BNB Chain reduced its minimum gas fee to 0.05 Gwei, making the network one of the cheapest among major blockchains.

Meanwhile, Kazakhstan’s state-backed Alem Crypto Fund named BNB as its first investment asset. The fund’s goal is to build long-term reserves of digital assets and signals rising adoption at the sovereign level.

BNB also weathered a brief security incident during the session when the BNB Chain’s X account was compromised. Hackers made off with about $13,000 before the issue was resolved and the community rallied behind it.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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October 2, 2025 0 comments

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Can The Shiba Inu Price Reach $0.00008 ATH Again? What The Volume Levels Say

by admin October 2, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Shiba Inu price saw an over 5% surge on Wednesday to kick off the new month of October in the green. This was not caused by any development that was unique to the meme coin, but rather by a rapid surge in the Bitcoin price, which took most of the crypto market along with it. Nevertheless, it was a welcome change after a dreary September that saw the Shiba Inu price fall below $0.000012. But as this recovery moves forward, we take a look at the volume and what the levels point to.

Volume Levels Show Shiba Inu Price Is Far From All-Time High

Using volume data from the Coinglass website, it gives a clear view of participation from crypto investors when it comes to the Shiba Inu and how the meme coin is performing relative to times of rapid price acceleration. At the current level, there is still a lot to be desired, especially as the Shiba Inu daily trading volumes remain quite low.

Data shows that the Shiba Inu daily volume was averaging at around $200 million back in September, and this was low compared to the previous months. It also coincides with the drop in participation and the bearish sentiment that plagued the market, especially toward the end of the month.

Despite starting out on a bullish note, the month of October has not seen much change either. Coinglass data shows just over $150 million in trading volume at the time of this writing, similar to CoinMarketCap’s $206 million, taking into account spot trading volume.

Source: Coinglass

What This Means For The SHIB Price

With low volume, it suggests that the Shiba Inu price is not yet ready for a big rally. Looking at historical data, it shows that the times when the biggest rallies have happened for the meme coin were when there were large spikes in volume.

This was the case back in 2021 when the Shiba Inu price recorded its all-time high of $0.000088, and the trend has been evident at other times when there have been major rallies, such as back in March 2024 when the price rose from $0.000009 to $0.000023. Given this, there would need to be a large volume influx if the Shiba Inu price is to reclaim its all-time high again.

Nevertheless, there have also been some bullish developments for the meme coin, such as exchange balances dropping to their lowest levels since 2023. This suggests that investors are choosing to wait for better prices before they sell, thus reducing the selling pressure on the cryptocurrency.

SHIB struggles as breakout takes hold | Source: SHIBUSDT on Tradingview.com

Featured image from Dall.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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October 2, 2025 0 comments

GameFi Guides

Morning Minute: Polymarket Prepares for Imminent U.S. Launch

by admin October 2, 2025

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

Crypto majors see more green; Bitcoin at $118,800
ZCash continues to lead, soaring 50% to $140
U.S. goverment shut down pauses ETF approvals
Lighter leaves private beta, opens Perps platform to public
PNKSTR jumps 50% to $140M as other NFT Strategies boom

🟣 Polymarket’s U.S. Return: “Green Light” Becomes Go-Time

After four years on the sidelines, the world’s biggest prediction market is set to reopen to U.S. users.

Potentially as soon as today…

📌 What Happened

To understand how we arrive at Polymarket potentially launching in the U.S. as soon as today, let’s look at the timeline.

In July, Polymarket bought QCX/QC Clearing (QCEX) for $112M, securing a CFTC-licensed exchange and clearinghouse.
On September 3, CFTC staff issued a no-action letter giving limited relief on event-contract reporting/recordkeeping for those entities.
Polymarket has since started self-certifying event contracts (sports, elections), clearing the final runway to switch the U.S. platform on.
- Under CFTC rules, once a DCM files a certification, the agency has one business day to object; absent objection, the market can list immediately.
In its filings, Polymarket U.S. explicitly says listings will occur “no earlier than October 2, 2025,” which is why the platform could open as soon as tomorrow. Though other sources are reporting October 7, 2025.

There you have it. Polymarket U.S. is coming, if not today, soon.

🗣️ What They’re Saying

“Polymarket has been given the green light to go live in the U.S.A by the @CFTC.” -CEO Shayne Coplan, following the no-action letter.

Some news (reposted for an error): Polymarket US has self-certified sports and election contracts with the CFTC.
➡️ Polymarket plans to offer moneylines, point spreads and totals for any sport
➡️ Oct. 7 is first day they could be offered
➡️ Sportsdata dot io is providing data

— Dustin Gouker (@DustinGouker) October 1, 2025

🧠 Why It Matters

If you’re in the U.S., this means you can use Polymarket without a VPN—just a normal U.S. account.

Because it’s running on a CFTC-licensed venue, expect a quick KYC/identity check and standard U.S. compliance (some state-by-state limits may apply at launch).

The first listings should look familiar, likely sports spreads/totals and “who wins” elections.

And, thanks to the self-certification process, they can appear as soon as the next business day after filing (i.e. today).

Access will likely start on the official U.S. web app and then roll into App Store / Google Play once approvals are cleared (another huge potential lift – Polymarket mobile).

Overall this is clearly huge for U.S. adoption and should pour gasoline on what is the prediction market fire happening right now.

And may help them regain market share against Kalshi, which has pulled out to a bigger lead over the past month (66% market share last week).

Expect volumes to continue to grind up an to the right (barring any new legal or regulatory issues)…

🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

Crypto majors are green again continuing the shutdown rally; BTC +2% at $118,800, ETH +2% at $4,380, XRP +1% at $2.99, SOL +4% at $225
ZEC (+50%), DEXE (+30%) and SPX (+17%) led top movers
Zcash rocketed ~63% to a three-year high, as traders (and Naval) pitch privacy coin as “insurance” hedge during Bitcoin strength
MSTR stock jumped 5% yesterday after Strategy avoided a multi-billion AMT (tax) hit after new IRS/Treasury guidance, easing concerns over taxes on unrealized gains tied to its Bitcoin holdings
Polymarket is poised to relaunch for U.S. users within days, as filings show self-certified contracts after acquiring a CFTC-licensed venue
Circle introduced a new tokenized U.S. Treasury fund U.S.YC on Solana
The UK government seeks to keep most of $7B in Bitcoin it just seized linked to massive Chinese fraud
The White House withdrew Brian Quintenz for CFTC chair, reopening leadership questions at the derivatives regulator amid active crypto agenda
New York is running a pilot to give low income residents $12,000 in U.S.DC to help alleviate poverty, with funding provided by Coinbase

In Corporate Treasuries / ETFs

In Memes

Memecoin leaders are very green; DOGE +7%, Shiba +3%, PEPE +4%, PENGU +4%, BONK +3%, TRUMP +3%, SPX +19%, and FARTCOIN +8%
VIRU.S. +77% to $30M, LOOK +43% to $85M and aura +30% to $90M led onchain Solana movers

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

Sui announced a new income-generating digital dollar token suiU.S.De powered by Ethena, with revenue used for SUI buybacks
Pump.fun introduced “easy onramp,” enabling new funding methods powered by Apple Pay, Phantom, Robinhood and more
Monad’s “intern” teased that Monad will launch in Q4
Lighter launched its public mainnet (perps dex) yesterday, now open to the public after 8 months of private beta

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

ETH NFT leaders were mostly even, Hypurrs lead; Punks even at 47.3 ETH, Pudgy even at 10, BAYC -3% at 8.75 ETH
Hypurr’s rebounded 30% to a 1,500 HYPE floor ($71,000)
Punk Strategy jumped 50% to $140M and a new ATH, 65% of the way to its 20th Punk; BIRBStrategy +80% to $12M and PDGYSTR +60% to $11M led movers
A NodeStrategy has teased its launch, using an auction format to use funds to acquire NodeMonkes in a similar style as the other NFT Strategies (not affiliated)
Doodles landed on Froot Loops boxes, with 500 limited editions at $50 selling as NFTs on Base
Oh Baby Games announced its first NFT venture, the “Oh Baby Pass,” launching next week

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

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October 2, 2025 0 comments

Story Protocol (IP) price down 50% after hitting ATH, will the losses continue?

GameFi Guides

Monthly perp trading surpass $1t for the first time

by admin October 2, 2025

In September, monthly trading volume on Perp DEXs broke through $1 trillion for the first time in history, reaching as high as $1.14 trillion amidst the boom in perp trading.

Summary

In September 2025, monthly trading volume on Perp DEXs surpassed $1 trillion, marking a historic first for the crypto community.
DEX trading has been on the rise lately, with more CEXs adopting DEX functionalities

According to data from DeFi Llama, trading volume for perpetual decentralized exchanges exceeded $1 trillion in monthly trading volume for the first time ever in September 2025. Compared to the previous month of August, this number indicates a nearly 50% month-over-month surge from just $766 billion.

The surge in monthly trading volume was driven by several decentralized protocols, such as Aster (ASTER), Hyperliquid (HYPE), and Lighter each crossing the $150 billion mark in trading volume over the past 30 days. In the past week alone, perp trading has climbed up by 161%.

Aster leads the charge with a monthly perp volume of $493.61 billion, making up for nearly half of the total perp trading volume in September alone. This number is followed by Hyperliquid with $280.7 billion in the same period. Lighter is in third place with $165 billion in monthly trading volume.

Perp trading volume on DEXs have risen to $1 trillion for the first time in history | Source: DeFi Llama

Within just a month, Aster managed to dethrone Hyperliquid as the dominating market holder of perpetual futures. What took Hyperliquid one year to achieve, Aster was able to do in just a few months. Back in August 2025, analysts estimated that Hyperliquid accounted for 80% of the total perp trading market.

In the past 24 hours, Aster’s perp volume has reached $80.47 billion. Meanwhile, Hyperliquid’s volume is only at $9.47 billion. The large nealy-1000% gap between protocols showcases the rapid growth of Aster DEX in the crypto space after gaining support from former Binance CEO Changpeng Zhao.

Perp trading on the rise

Compared to just a year ago in September 2024, the trading volume for perpetual futures was still stuck at around $131 billion. In just the span of a year, that number surpassed $1 trillion for the first time in history due to advancements made in the space.

The boom in perpetual trading can be attributed to the many new features introduced through Aster, Hyperliquid and many more DEX platforms. Many Perp DEXs run on high-throughput chains or Layer-2 solutions, reducing latency, lowering gas fees, and enhancing execution speed.

As a result, barriers that once made derivatives trading unattractive on-chain have been diminished.

Another key driver is the rewards model deployed by DEXs to attract more users to trade on their platforms. Most recently, more protocols are using token incentives, yield sharing, revenue redistributions, and “point-farming” schemes to bootstrap volume and liquidity on their respective platforms.

Projects like Aster have leaned heavily on this kind of incentive engineering to rapidly grow trading activity and attract users.

Not only that, centralized exchanges like OKX have begun to integrate support for DEX trading, in hopes of luring in more users with a hybrid model that combines CEX and DEX functionalities. At the moment, the program is still in its limited public beta test phase.

According to the announcement, the exchange plans to distribute 1,000 experience codes worldwide, giving users the chance to test the DEX support feature with zero trading fees. Transactions will be executed directly within the interface of the OKX exchange.

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October 2, 2025 0 comments

Bitcoin Holds Near $114K As Us Inflation Hits 2.9% In August

GameFi Guides

Bitcoin Equilibrium Signals Move Toward $130K

by admin October 2, 2025

Bitcoin is holding strong around $118,700, with signs of pushing higher toward $130,000. As of writing, CoinMarketCap data shows Bitcoin trading at $118,716 with more than $69 billion in trading volume in the past day. Besides, the entire crypto market has grown to $4.08 trillion, climbing 2.15% in just 24 hours.

CryptoQuant analyst AxelAdlerJr noted that Bitcoin remains in the STH-MVRV pricing corridor, which tracks short-term holders’ profitability. “The upper boundary of this range (+1σ) currently runs around $130K and serves as a zone where short-term holders more actively lock in profits,” he explained.

Bitcoin in Equilibrium With Growth Potential to $130K

“The upper boundary of this range (+1σ) currently runs around $130K and serves as a zone where short-term holders more actively lock in profits.” – By @AxelAdlerJr pic.twitter.com/m1oJh4tj7U

— CryptoQuant.com (@cryptoquant_com) October 2, 2025

Since early 2024, Bitcoin has stayed above its average buying price, showing strong confidence. Because of this, the climb toward $130K is still likely if current trends continue.

Analysts See Next Targets Above $130K

Another analyst agrees. Ali_charts on X said that after Bitcoin passed $117,000, the next target could be $139,000.

Additionally, CryptoQuant’s Crypto Dan explained that long-term holders remain steady. “The current market is progressing slowly within the bull cycle, but there are no signs of an imminent end. In fact, a strong upward move may be just around the corner,” he noted. Hence, the broader cycle still suggests growth potential before any peak conditions emerge.

The Bull Cycle Is Slow but Still in Progress

“The current market is progressing slowly within the bull cycle, but there are no signs of an imminent end. In fact, a strong upward move may be just around the corner.” – By @DanCoinInvestor pic.twitter.com/wIUylhoyH9

— CryptoQuant.com (@cryptoquant_com) October 2, 2025

On-chain and derivatives data also show strength. According to Santiment data, funding rates are holding steady at 0.009%. This indicates that neither the long nor short positions are taking over, which minimize the risks of a rally driven by leverage.

Open interest has climbed to $40.59 billion, showing more traders are getting involved without risky borrowing. This means the rally looks driven by real demand and steady positions.

The chart shows that Bitcoin recovered quickly from September losses below $90,000, indicating backing from large investors.

Bitcoin’s climb looks well-grounded. With healthy trading, growing interest, and steady support, a run toward $130K feels increasingly possible.

Also Read: Bitcoin Miners Hit $56B Market Cap Despite Falling Margins

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October 2, 2025 0 comments

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Ethereum Dead Cat Bounce in Play? Here’s What Chart Says

by admin October 2, 2025

Ethereum (ETH) has jumped by 9.19% in the last seven days as the asset maintained stability above the $4,000 level. This uptick has sparked bullish sentiment in the Ethereum community as investors anticipate an upsurge toward $5,000.

Analyst warns of “Dead Cat Bounce” in Ethereum

However, MikybullCrypto, a crypto trader on X, maintains that an Ethereum “dead cat bounce” that could trap bulls is at play. For clarity, a dead cat bounce refers to a brief recovery period for an asset when the price goes up a little, after a huge decline. Notably, the asset reverses the uptick and continues its previous downward trend.

MikybullCrypto is suggesting that the current upward movement in price might be short-lived and entrap investors who are bullish on the asset. He maintained that any investor who buys ETH now, anticipating a further price surge, could suffer losses when it falls quickly.

The analyst, relying on a TradingView chart, highlighted that Ethereum has been on a descending path since July 2025, when the price hovered around $3,500. He is using this as a baseline price for Ethereum, insisting a massive dump could see the coin drop from its current levels.

As of press time, Ethereum is changing hands at $4,389.30, which represents a 5.42% increase in the last 24 hours. ETH had earlier traded at a peak of $4,423.12 before slipping as a result of market volatility. There has been a surge in trading volume by up to 40.32% to $51.34 billion within the same time frame.

The market outlook suggests a solid recovery for Ethereum. Hence, members of the community are reacting to MikybullCrypto’s analysis with skepticism. A user stated that the current setup looks like a bear trap, not a bull trap, implying that Ethereum is likely to continue its upward momentum.

Ethereum outlook, bull trap or bear trap?

Interestingly, Ethereum whales, within this period, have intensified their accumulation move.

When the price fell below the critical $4,000 level, these large holders received 431,018 ETH, valued at over $1.73 billion from different exchanges. This was considered a bullish move as the direction of flow moved from exchanges to wallet signal stacking.

However, less than 48 hours ago, an unknown wallet transferred 198,289 ETH worth about $852 million to a crypto futures exchange. Coming at a time of price rebound, some market watchers are treating it as an attempt to sell, although it was not specified.

With Ethereum receiving mixed predictions from analysts, the price outlook will become clearer with time.

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October 2, 2025 0 comments

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XRP Jumps 5% as SBI Lending Program and ETF Countdown Fuel Rally

by admin October 2, 2025

XRP surged to fresh highs after Japan’s SBI unveiled an institutional lending initiative, igniting volumes above 160M and lifting price through key resistance. Buyers defended $2.93 multiple times as flows consolidated, with the October 18 ETF decision window now framing the next breakout test toward $3.00.

News Background

XRP climbed 5.2% over the 24-hour window from Oct. 1, 03:00 to Oct. 2, 02:00, advancing from $2.84 to $2.97. The move followed SBI’s launch of an XRP lending program for institutional payments, highlighting Japan’s push into large-scale adoption. The rally also comes as Ripple CTO David Schwartz transitions to an emeritus role and with seven spot ETF filings pending SEC decisions starting Oct. 18.

Price Action Summary

The token traded a $0.16 band (5.6% volatility) between $2.82 and $2.98. The breakout accelerated at 08:00 Oct. 1, as XRP ripped from $2.86 to $2.92 on 164.5M tokens — more than double the daily average. Subsequent consolidation held $2.93 support through multiple retests, while resistance firmed at $2.96–$2.98. In the final hour, XRP extended 0.28% from $2.96 to $2.97, hitting $2.98 before sellers capped the advance.

Technical Analysis

Support has shifted higher to $2.93 after repeated defenses, while resistance remains entrenched at $2.96–$2.98. The breakout was validated by volume spikes — including a 4.8M burst during the late-session rally — signaling institutional demand underpinning the move. The hour chart showed a textbook ascending structure, with higher lows at $2.96–$2.97 leading into the session peak. Bulls need a decisive close above $2.98 to confirm momentum toward the $3.00 psychological barrier.

What Traders Are Watching?

Whether XRP can sustain closes above $2.96–$2.98 to set up a $3.00 breakout.
Impact of SBI’s lending program on Asian liquidity flows and whether buying persists into U.S. hours.
Positioning shifts ahead of the Oct. 18 SEC deadline for seven spot ETF applications.
Broader CD20 index confirmation, as peer tokens also rallied 4–5% with elevated volume.

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October 2, 2025 0 comments

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Coinbase Shareholders Greenlit To Proceed With Lawsuit By Federal Judge

by admin October 2, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A federal judge has granted Coinbase (COIN) shareholders the opportunity to move forward with a narrowed lawsuit against the US-based cryptocurrency exchange, alleging that the company concealed alleged “business risks,” including the possibility of being sued by the Securities and Exchange Commission (SEC).

Claims Against Coinbase

The ruling, issued by US District Judge Brian Martinotti in Newark, New Jersey, comes as a response to claims that Coinbase misled investors regarding its regulatory standing and the safety of their assets. The Judge rejected requests from the crypto exchange executives and directors to dismiss the lawsuit entirely.

The shareholders contend that the company misrepresented the likelihood of an SEC lawsuit regarding its operations as an unregistered securities exchange, leading them to believe that such an action was improbable.

They also argue that Coinbase failed to disclose the alleged risks associated with asset loss in the event of a bankruptcy filing. The judge pointed out that while shareholders could not base their claims solely on “group pleading,” they can pursue claims that provide detailed allegations against specific parties.

Martinotti emphasized that claims grounded in particularized allegations must be allowed to proceed, stating, “Where plaintiffs have appropriately provided defendant-by-defendant particularity, the claims must remain.”

Shareholder Legal Teams Remain Silent

The ruling, which spans 59 pages, does not outline which specific statements were dismissed due to the group pleading issue, as neither party identified those in their arguments.

As Reuters reported, Martinotti noted in a footnote that “Judges are not like pigs, hunting for truffles buried in briefs,” highlighting the importance of clarity in legal documentation.

The proposed class action suit is spearheaded by the Swedish pension fund Sjunde AP-Fonden and encompasses Coinbase shareholders from April 14, 2021, to June 5, 2023.

In February, the Securities and Exchange Commission had concluded its lawsuit against the exchange as regulatory scrutiny on the cryptocurrency industry began to ease under the Trump administration.

Others, such as Uniswap, Robinhood, and Kraken, have also had their lawsuits dismissed by the regulator this year. Trump’s appointment of Paul Atkins as the new chair has been a positive development, providing clear regulatory frameworks and collaborations to boost the adoption and usage of cryptocurrency in the country.

At the time of writing, neither Coinbase nor its shareholders’ legal representatives have commented on the judge’s ruling. It remains to be seen what actions the firm will take and whether its executives will issue an official comment.

The 1-hour chart shows COIN’s valuation trending upwards. Source: COIN on TradingView.com

Despite the judge’s decision, the exchange’s stock, which trades on the Nasdaq under the ticker symbol COIN, surged towards $347 on Wednesday, marking gains of almost 12%. This aligns with the broader crypto market recovery, led by Bitcoin (BTC), which is approaching record highs.

Featured image from DALL-E, chart from TradingView.com

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October 2, 2025 0 comments