Bitcoin Gains 12%, Musk Accused of Pump And Dump, SEC vs. XRP

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The world’s biggest cryptocurrency leapt towards $40k overnight and is at the time of writing gaining more than 12%, changing hands for $39,600.

Analysts will be eyeing whether Bitcoin can close above the $40k level for two consecutive days at least before they call a possible breakout.

Musk: Tesla will resume allowing Bitcoin transactions

Responding to a story in which a crypto CEO (of a company named Sygnia) accused him of a pump and dump scheme with the price of Bitcoin in particular and crypto in general, Elon Musk stated:

This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

This is true pic.twitter.com/72u3SrBf6U

— Elon Musk (@elonmusk) June 14, 2021

The Tesla CEO then went on to more important things, such as tweeting more memes.

SEC Needs Two More Months

XRP would like to get on with its court case in which the SEC has pushed it. Ongoing for a couple of months now, the Securities and Exchange Commission has so far been unable to prove to the court why it deems XRP different from Bitcoin or Ethereum.

With a judge getting impatient and XRP eager to settle (and finally start its own 2021 bull run), strict timelines have now been set.

🚀#XRP🚀

It’s clear that the #SEC does not have sufficient evidence to their own lawsuit claims after 2+ years of investigating @Ripple.

Smash that retweet and trend #relistXRP! Let’s get 1000+ retweets. It won’t hurt you!!!

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As always, a follow for follow!

— XRP Trends (@Lets_trend_XRP) June 12, 2021

The SEC has now requested two more months to disclose emails and internal documents on Bitcoin, Ethereum and XRP in order to prove its case.

In a press release showing it’s demand to the court, the SEC said:

Making careful, good-faith determinations of applicable privileges, as is required in these circumstances, is a sensitive, time-consuming endeavor.

Ripple Labs is not amused to say the least.

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