In a tweet, he stated that while the possibility exists, it may not occur in the short term. He emphasized a cautious approach, suggesting investors focus on market momentum for short-term strategies, adding a disclaimer that his insights are not financial advice.

A slight indication of possible #Ripple settlement/withdrawal of appeal soon.

However I wouldn't BET on it short term, it's a great bet longer term but short term best look at momentum if you want to learn.

Not Financial Advice. https://t.co/GSYOGCxFg8

— Vincent Van Code (@vincent_vancode) January 28, 2025

Van Code’s comments coincided with an announcement by KuCoin, a leading cryptocurrency exchange, which declared it had settled with U.S. authorities.

KuCoin highlighted that the settlement represents “a major step forward” in its regulatory journey, solidifying its compliance efforts while continuing to serve over 38 million users globally. This development has intensified speculation about regulatory outcomes for other major crypto-related cases, such as Ripple’s ongoing legal battle with the SEC.

Impact of SEC Closed Meeting Under Acting Chairman Mark Uyeda

Further fueling speculation is the SEC’s closed meeting on January 23, 2025. According to a Times Tabloid report, this meeting was the first significant action under the agency’s new acting chairman, Mark Uyeda. With no public disclosure of the topics discussed, many within the crypto industry speculate about its potential implications, particularly for Ripple’s case.

An X user commenting on Van Code’s tweet noted that decisions made during the meeting could require three days before the announcement. If accurate, this would place January 26 as a potential date for news regarding Ripple. However, the SEC has not confirmed any connection between the meeting and its litigation against Ripple.

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Ripple’s case has been a centerpiece of regulatory debate since its inception. The SEC alleges that Ripple conducted unregistered securities offerings through XRP sales. While Ripple recorded a partial victory in 2023 when a court ruled that XRP was not a security when sold on secondary markets, the SEC appealed the decision, leaving the case unresolved.

Regulatory Clarity Remains a Priority for the Crypto Industry

KuCoin’s successful settlement highlights the increasing importance of regulatory clarity for cryptocurrency platforms in the United States. The exchange emphasized that its agreement with U.S. authorities would help strengthen compliance and innovation. For Ripple, achieving a similar resolution could be transformative, potentially setting a precedent for the broader crypto ecosystem.

Vincent Van Code’s cautious optimism reflects the view of many analysts who believe a Ripple settlement is possible but not imminent. Until an official announcement is made, the market remains in a state of uncertainty. As Van Code advised, short-term traders may be better served by monitoring market momentum rather than making speculative bets on the timing of a settlement.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Challenge Details and Prizes

The competition centers around predicting which cryptocurrency among the five listed will experience the highest daily price gain. The challenge will run for four days, commencing on April 5, 2024, at 00:00 UTC and concluding on April 8, 2024, at 23:59 UTC. Each day will feature a separate round, pitting ROOT against one of the other four established cryptocurrencies (BTC, ETH, SOL, and XRP).

Read Also: 2 Trillion SHIB Moved Out of KuCoin

Participants will have 24 hours within each round to predict the coin they believe will exhibit the strongest price increase. A daily prize pool of $5,000 will be distributed among those who make the correct predictions. Additionally, a grand prize pool of $10,000 will be awarded, bringing the total potential winnings to $30,000.

Eligibility and Participation Rules

To participate in the challenge, users must be registered KuCoin users with a minimum daily trading volume requirement of 200 USDT for spot trading and 500 USDT for futures trading.

Eligible users can predict the best-performing cryptocurrency for each round. The number of prediction votes a user holds is determined by their daily accumulated trading volume, with a maximum of 50 votes obtainable per day. It’s important to note that users can only allocate their daily votes to a single coin within each round, regardless of the total number of prediction votes available.

The prediction window for each round closes at 16:00 UTC. Winners will be determined by calculating the ratio of each user’s total correct predictions to the total number of votes cast by all participants, multiplied by the relevant prize pool. KuCoin will announce a separate date for prize distribution to the winning participants.

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Read Also: Top Exchange KuCoin Once Again Becomes Terra Classic Validator, Stakes 47.9 Billion LUNC at Once

Current Crypto Market Conditions

While the KuCoin price prediction challenge offers an opportunity for users to potentially profit, it’s crucial to acknowledge the current state of the broader cryptocurrency market.

As of press time, all five cryptocurrencies featured in the challenge have experienced slight price changes over the past 24 hours. XRP, SOL, and ROOT are down 2.79%, 1.2%, and 0.13%, respectively.

BTC on the other hand, is up by 3.5%, while ETH is at 0.30%. Participants in the challenge are encouraged to carefully consider these market conditions and conduct their research before making any predictions.

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The post KuCoin Launches Price Prediction Challenge for XRP Holders With $30k to Share appeared first on Times Tabloid.

Mysterious Shiba Inu (SHIB) Deposit to KuCoin

Whale Alert, a prominent cryptocurrency tracker, reported a transfer of a staggering 1.4 trillion SHIB tokens (valued at approximately $43.5 million at the time of the transaction) to a KuCoin address. This transaction clearly pales into the significant outflows of SHIB witnessed on the exchange in the past week.

KuCoin has been embroiled in a legal battle with the US Department of Justice (DoJ) facing charges of violating the Bank Secrecy Act. The DoJ alleges that KuCoin failed to maintain a proper anti-money laundering program, potentially facilitating illegal financial activities. Additionally, the exchange is accused of receiving funds from the sanctioned crypto mixer Tornado Cash without reporting suspicious transactions.

Prior SHIB Outflows from KuCoin

Earlier on, Times Tabloid reported a much larger transfer of 2 trillion SHIB, which exited KuCoin in the wake of the DoJ charges. This mass exodus by users reflects a lack of confidence in the exchange due to legal uncertainties. Despite KuCoin receiving the aforementioned large transactions, significant outflows totaling roughly $500 million were documented.

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Current State of Shiba Inu (SHIB)

According to data from Coinmarketcap, the events impacted the price of SHIB. After the event, the price of the meme coin dropped by about 4% over 24 hours. This is in contrast to its performance in 7 days, where it experienced a 15.95% increase in its price. At the time of writing, SHIB holds the 12th position with about $17 billion market capitalization.

The substantial SHIB deposit to KuCoin amidst its legal challenges raises questions about the motivations behind the transfer. Whether it signifies a show of confidence or simply a temporary holding point remains unclear. The ongoing legal case against KuCoin and the broader market sentiment will likely continue to influence SHIB’s price and user behavior on the exchange.

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This withdrawal coincides with some serious legal trouble for KuCoin. The US authorities have filed criminal charges against KuCoin and two of its founders, Ke Tang and Chun Guan.

The Justice Department alleges a violation of the Bank Secrecy Act, a similar charge Binance faced last year. Additionally, officials claim KuCoin illegally operated within the United States without the necessary registration and compliance with anti-money laundering regulations.

Read Also: Shiba Inu Lead Dev States Why SHIB Is Poised To Lead The Bull Market

Heightened Withdrawal Activity Following Allegations

The news of these allegations has seemingly sparked a surge in withdrawals from the KuCoin platform, with estimates exceeding $1 billion in diverse cryptocurrencies. To accommodate this demand, Times Tabloid reported that KuCoin internally transferred an impressive 250 million XRP (worth roughly $158.38 million).

On-chain analysis suggests that these XRP funds were subsequently divided and sent to other major exchanges like Binance and Bybit.

While the motivation behind the XRP transfers seems explicitly tied to honoring withdrawal requests, the relocation of 2 trillion Shiba Inu tokens points toward a safeguarding measure.

Shiba Inu Maintains Resilience

Despite the issues surrounding KuCoin, Shiba Inu, the popular meme-inspired cryptocurrency, has demonstrated resilience. Data from CoinMarketCap reveals the meme coin is down 3% to trade at $0.00003003.

Shiba Inu (SHIB) continues to hold its place as the 11th largest cryptocurrency, boasting a significant market capitalization of $18.89 billion. This sustained strength may suggest market confidence in the project despite regulatory challenges faced by centralized exchanges.

Read Also: Shiba Inu Lead Dev Responds To Vitalik Buterin Comment about SHIB Price

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Potential Implications for Cryptocurrency Exchanges

The regulatory action against KuCoin underscores the increasing scrutiny faced by cryptocurrency exchanges from government authorities worldwide. This case could have implications for other exchanges operating without adhering to legal frameworks within specific jurisdictions. The emphasis on anti-money laundering compliance highlights the importance of exchanges proactively implementing measures to deter illicit use of their platforms.

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Whale Alert, a platform dedicated to tracking large cryptocurrency transactions, first reported the movement in a post on X. The substantial XRP movement coincides with criminal charges filed against KuCoin and two of its founders, Chun Gan and Ke Tang.

US attorneys allege that the exchange intentionally operated within the United States without adhering to regulations designed to prevent unlawful activities such as money laundering. Prosecutors contend that KuCoin profited by serving a sizable US customer base while evading compliance requirements.

Community Response and XRP Distribution

This legal development has raised concerns within the cryptocurrency community, prompting speculation about the purpose of KuCoin’s XRP transfer.

However, analysis of the transaction reveals that the funds were subsequently dispersed across multiple centralized exchanges, including Binance, Coinbase, Bitget, Bybit, MEXC, and Crypto.com.

This distribution pattern suggests that KuCoin is facing a surge in withdrawal requests as users rushed to withdraw their holdings from the platform.

Examining the Transfer

Initially, the 250 million XRP originated from a KuCoin-affiliated wallet, according to data from XRP explorer XRPScan. This finding clarifies that the parties involved are not entirely unknown. The recipient of the XRP has been systematically transferring the tokens in smaller increments over the past 12 hours.

The charges brought against KuCoin by US authorities have likely eroded user confidence, triggering the observed uptick in withdrawals. This case highlights the risks cryptocurrency exchanges may face when operating without adhering to the regulatory framework of specific jurisdictions.

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Regulatory Landscape for Crypto Exchanges

The KuCoin case highlights the intensified regulatory focus on cryptocurrency exchanges globally. To safeguard investors and prevent illicit financial activities, authorities are placing these platforms under heightened scrutiny to enforce compliance with anti-money laundering (AML) via know-your-customer (KYC) protocols.

This legal action could act as a strong warning for other exchanges. It reinforces the critical need to operate by the legal frameworks established within the jurisdictions they serve. Failure to do so carries the potential for substantial regulatory consequences.

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CFTC Complaint Targets Unregistered Commodities Trading

The CFTC’s complaint, filed in March 2024, centers on KuCoin’s alleged offering of unregistered commodities. The Commission claims that the exchange facilitated trading in cryptocurrencies like Bitcoin, Ether, and Litecoin without registering with the CFTC. This is classified as a violation of the Commodity Exchange Act (CEA).

Read Also: What Coinbase CEO Brian Armstrong Has To Say about Ripple-SEC Case

“The CFTC alleges that KuCoin allowed its users to engage in off-exchange commodity futures transactions and leveraged margin trading of cryptocurrencies,” a CFTC press release stated. “These activities fall under the CFTC’s regulatory purview, and KuCoin’s failure to register constitutes a violation.”

The CFTC is seeking significant penalties from KuCoin, including disgorgement of ill-gotten gains, civil monetary penalties, and permanent bans on trading and registration. Additionally, the agency seeks a permanent injunction to prevent KuCoin from further violations of the CEA and CFTC regulations.

DOJ Accuses KuCoin of Anti-Money Laundering Violations

The lawsuit filed by the DOJ targets KuCoin’s alleged violation of the Bank Secrecy Act (BSA). The DOJ accuses the crypto exchange and its co-founders of failing to implement adequate Know-Your-Customer (KYC) procedures from July 2019 to June 2023. These procedures are crucial for preventing money laundering and identifying suspicious activity.

“The DOJ alleges that KuCoin did not have a functioning KYC program in place for a significant period,” a source familiar with the case revealed. “This lack of controls allegedly allowed KuCoin to be used for illicit financial activities, facilitating the transfer of billions in suspicious funds.”

The DOJ further claims that KuCoin’s alleged implementation of a KYC program in July 2023 was a sham, undertaken only after the exchange became aware of a government investigation. The lack of proper KYC procedures allegedly exposed the platform to over $4 billion in “suspicious and criminal funds” and resulted in $5 billion in profits from operating outside regulatory scrutiny.

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Read Also: Binance to Remove these XRP, SOL, and ADA Products As SEC Targets the Exchange

Not KuCoin’s First Brush with Regulators

These lawsuits are not the first time KuCoin has faced regulatory challenges. In December 2023, the New York Attorney General’s office settled with KuCoin for $22 million, resolving allegations related to unregistered securities offerings.

Similarly, in late 2023, the CFTC and DOJ jointly targeted another major crypto exchange, Binance, in a multi-billion dollar settlement for similar anti-money laundering violations.

The KuCoin cases highlight the increasing focus of US regulatory bodies on the cryptocurrency market. The CFTC and DOJ actions underscore their commitment to ensuring compliance with financial regulations and combating illegal activities within the crypto space.

KuCoin will now have to navigate these legal challenges and potentially face significant penalties and operational changes to satisfy these regulatory demands.

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Vacant cells on Aug. 13-14 spark speculation of multiple token listings

SHIB community leaders call for FUND and LEASH listings

In a move that has sparked excitement in the SHIB community, KuCoin, a major centralized crypto exchange, has hinted at the possibility of listing tokens from the Shiba Inu ecosystem. The timing of this announcement is significant, as it coincides with the long-anticipated launch of the Layer-2 solution Shibarium.

The excitement began when KuCoin‘s official X account posted a teaser on their platform. The image depicted a Shiba Inu dog, placed under the date of Aug. 12. A dog bone was positioned under the dates of Aug. 15-16, aligning precisely with the expected release window of Shibarium.

#Shibarium is expected to launch next week.

Are you pawsitive for for $SHIB?

— KuCoin (@kucoincom) August 12, 2023

Read Also: How Much You Need to Make $1M, $5M, or $10M If SHIB Surges 1,000% After Shibarium Launch

The bone is a clear reference to the BONE token, an essential element of the Shiba Inu ecosystem and the upcoming protocol. This deliberate visual cue has left no room for doubt. KuCoin is poised to seize the opportunity by listing the BONE token in conjunction with the much-awaited Shibarium launch.

However, the intrigue does not end there. By tactically leaving the cells corresponding to Aug. 13 and 14 empty, KuCoin’s post has ignited speculation. The vacuum created in these cells is seen by many as a potential hint toward the listing of multiple tokens beyond BONE.

A prominent influencer within the SHIB community, who also serves as a validator operator at Unification and has played a crucial role in the development of Shibarium, has recently proposed the introduction of the FUND token on KuCoin’s platform. The FUND token serves as a governance token specifically designed to oversee and manage the Shibarium ecosystem effectively.

Notably, the official X account of the Shiba Inu token actively engaged in the discussion, expressing great enthusiasm by raising inquiries regarding the possibility of listing not only BONE but also LEASH.

It should be noted that LEASH, like BONE, functions as an ecosystem token within the Shiba Inu framework, playing a supportive role.

Wen $BONE & $LEASH listings? @kucoincom https://t.co/sIQwfCGCyk

— Shib (@Shibtoken) August 12, 2023

Read Also: Top Shiba Inu Influencer Explains Why SHIB Price Is Not Rising Despite Upcoming Shibarium Launch

The possibility of KuCoin listing tokens from the Shiba Inu ecosystem is a major development for the project. It would provide much-needed liquidity to the ecosystem and help to increase the visibility of SHIB and its associated tokens. It is also a sign of the growing mainstream acceptance of meme coins and DeFi tokens.

The Shibarium launch is expected to take place in the coming days. It remains to be seen which tokens KuCoin will ultimately list, but excitement and anticipation are building among the SHIB community.

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Submitted for voting on March 19 by a top Terra Classic community member Dfunk, Proposal 11515 has recently passed governance voting. The proposal dubbed “New Economic Policy for Terra Classic” is a set of four propositions to align incentives.  

Dfunk proposed to have the LUNC burn tax on all on-chain transactions on the Terra Classic network increased from the initial 0.2% to 0.5%. According to him, this will help in reducing the total supply of the LUNC as more tokens will be burned. He wrote, “As we focus on increasing LUNC demand via staking, we also need to focus on reducing LUNC supply via burn tax. As a result, I propose to increase the burn tax to 0.5%.”

The Terra Classic community which previously kicked against an increase in burn tax to 1.2% shortly after implementation, as it caused a reduction in trading volume voted in support of the new proposal. Henceforth, users will be levied a tax worth 0.5% of transaction volume when they execute a trade or other transactions involving LUNC and USTC via the Terra Classic network. 

Kucoin, a top cryptocurrency exchange, is among the first exchanges to announce support for the latest development in the Terra Classic community. The exchange disclosed this in a Thursday press release, stating that it will implement the new LUNC burn tax rate when the 0.5% tax burn goes live. Notably, the burn tax increase on the Terra Classic network is expected to occur at a block height of 12,902,399.

#KuCoin Will Support to Increase the Tax Burn of Terra Classic (LUNC) Network from 0.2% to 0.5%

— KuCoin (@kucoincom) May 18, 2023

Part of the announcement read, “Terra Classic (LUNC) community has passed Proposal 11515, which will increase the tax burn of the Terra Classic (LUNC) network to 0.5%. Therefore, KuCoin will support to increase the tax burn Terra Classic (LUNC) and Terra Classic USD (USTC) tokens when the 0.5% tax burn goes live at the Terra Classic block height of 12,902,399.”

While Binance and other exchanges are yet to show support for the burn tax increase, Binance CEO Changpeng Zhao believes a high burn tax rate would affect the LUNC burn expedition negatively as it could discourage whales from trading. Notably, the largest crypto exchange is the top contributor to the LUNC burn mission with over 31 billion LUNC burned so far.

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The post KuCoin To Support LUNC Burn Tax Increase From 0.2% to 0.5%: Details appeared first on Times Tabloid.

As recently shared by Rex Harrison, a notable member of the Terra Classic community, the prominent exchange staked a total of 47.9 billion LUNC tokens at once. With this recent addition, the total number of staked LUNC now stands at 946 billion, representing 13.8% of LUNC’s total supply.

Read Also: Binance Announces Support for Terra Classic Network Upgrade Designed to Restore its Usual LUNC Burn Model

It should be noted that KuCoin made this notable comeback after they undelegated 48 billion LUNC tokens about two months ago.

According to Rex in a tweet, the new development could serve as a massive boost of confidence in Terra Classic (LUNC).

Rexyz tweeted, “Kucoin Stakes 47.9bn ($8.7m). This is a massive boost of confidence in LUNC Raising total staked by 0.8% to 13.8% and total staked to 946bn. Nearly 1 trillion total removed from circulation.”

Massive News
Kucoin Stakes 47.9bn ($8.7m)
This is a massive boost of confidence in #LUNC
Raising total staked by 0.8% to 13.8% and total staked to 946bn.
Nearly 1 trillion total removed from circulation. pic.twitter.com/pyCWjsyMJx

— Rexyz (@RexYellerBelly) February 8, 2023

It’s generally known that reducing LUNC circulating supply is paramount to the Terra Classic community. Although the move initiated by KuCoin did not burn any token, staking also helps in achieving relatively the same goal, since the whopping token will remain unmoved for a very long time and probably helps the token’s price ascent.

Read Also: Terra Classic Price Target Predicted as LUNC 24 Hours Trading Volume Surpasses $130 Million

In a recent tweet, Classy, a LUNC influencer, also acknowledged the significance of the new development.

Classy wrote, “One of the largest centralized exchanges KuCoin has now entered the LUNC chain once again as a validator.”

One of the largest centralized exchanges #KuCoin has now entered the $LUNC chain once again as a validator pic.twitter.com/kAqtr4ANma

— Classy (@ClassyCrypto_) February 8, 2023

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The Kucoin validator node on the Terra Classic network, initially pledging a delegation of nearly 50 billion LUNC, undelegated 48 billion LUNC tokens on December 30. 

As a result, Kucoin dropped drastically in the Terra Classic validators list to position 44th on the undelegation day. Likewise, the prominent Terra Classic validator’s voting power dropped to as low as  0.21%. 

This also triggered FUD around the centralized exchange as some users expressed doubts regarding KuCoin’s solvency status. Reportedly, some users have moved their LUNC holdings away from KuCoin to Binance exchange, the largest contributor to the LUNC but expedition. Meanwhile, CZ’s Binance revealed plans to slash its LUNC burning contribution by 50% following the Terra Classic community’s proposal to remint burned LUNC into circulation. 

 A certain Twitter user and web developer named Peter wrote, “So KuCoin has began undelegating/ redelegating all of their holdings on their validators on LUNC, LUNA, and ATOM (That we’ve confirmed) Could this mean that KuCoin could be going insolvent? Or are they stepping back from validators?”

In response, the exchange explained the reasons for the 48 billion LUNC undelegation and debunked all insolvency claims and negative presumptions regarding running validator nodes. KuCoin added that users’ assets are safe. 

Read Also: Terra Classic (LUNC) Burn Rate Spikes by 6,940% on the First Day of 2023. Here’s how

KuCoin Validator Node To Redelegate 48 Billion LUNC 

Per a Thursday tweet, KuCoin plans to continue supporting the Terra Classic community, citing that its validator will continue to pledge after the 14 days lock period. 

According to the exchange, its validator node undelegated a large portion of its LUNC holdings given that the pledge node of the internal financial account switched. 

“Hi, the KuCoin validator undelegated 48b $LUNC because the pledge node of the internal financial account switched. Rest assured that users’ assets are safe. We will continue the pledge after the 14-day lock period. This is a normal node switch,” the update read. 

Read Also: LUNC Development Group TerraCVita Set to Launch Terra Classic DEX in 2023

At press time, KuCoin which also supports LUNC burn ranks 46th on the Terra Classic validators list. The exchange is presently delegating only about 1.62 LUNC worth $242,000 at the current exchange rate, which entitles it to a voting power of 0.19%. 

As earlier reported, Classy Crypto, running a community validator on the Terra Classic network burned 100% commission earned from the validator node to further support the LUNC burning mission. Classy’s Sphere validator, which has roughly 15.5 billion LUNC worth $2,310,000 staked, is ranked 13th.

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