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Social mentions for "altseason" have plummeted this week, despite altcoins holding up relatively well. Has everyone finally given up on alt season? I think we just have to work on our definition of what alt season really means going forward.

The U.S. Securities and Exchange Commission is considering pausing its civil fraud case against TRON founder Justin Sun to explore a possible resolution that could benefit both parties and the public. In a letter sent on Wednesday to the U.S. District Judge Edgardo Ramos in Manhattan, attorneys representing Sun and the SEC requested a pause in the case, proposing to provide a status update 60 days following the stay, as originally reported by Reuters . The case , filed in March 2023, accuses Sun and his companies of illegally distributing Tronix ( TRX ) and BitTorrent ( BTT ) and artificially inflating TRX trading volume. Specifically, the SEC accused Sun of selling TRX and BTT tokens as investments without proper registration through unregistered “bounty programs.” These programs encouraged interested parties to promote the tokens on social media and chat groups, and create BitTorrent accounts in exchange for receiving TRX and BTT. The SEC also claimed that Sun and his companies conducted monthly giveaways of BTT to U.S. investors who already held TRX in their wallets or on certain exchanges. Additionally, the SEC accused Sun of wash trading, creating the illusion of active trading and liquidity in the markets for these tokens. Specifically, from April 2018 to Feb. 2019, Sun allegedly instructed his employees to carry out over 600,000 wash trades of TRX using two trading accounts he controlled. These trades involved manipulating the market with daily wash trades of between 4.5 million and 7.4 million TRX. To execute this scheme, Sun allegedly supplied a large quantity of TRX. Additionally, he was accused of selling TRX in the secondary market, which resulted in $31 million in proceeds. Finally, Sun also hired several high-profile celebrities to promote these tokens without disclosing their compensation. The SEC has also charged eight celebrities, including Lindsay Lohan, Akon, and Austin Mahone, for unlawfully promoting TRX and/or BTT without revealing that they were paid for these endorsements and the specific amounts they received. Prior to this, Justin Sun was in another legal spotlight when the blockchain protocol Chain considered taking legal action against him. This was sparked by Sun’s allegations that the company was involved in Onyxcoin ( XCN ) market manipulation—an accusation that seems particularly ironic in light of the Sun’s charges filed by the SEC. Sun made these allegations in a post on Jan. 24, claiming that Chain was using high leverage and contracts that could harm exchange users. He suggested that crypto exchanges should be cautious and indicated he would report Chain’s supposed illegal activities to the SEC and DOJ. In response, Chain rejected Sun’s accusations, stating that it does not engage in trading its XCN and pointing out that the XCN token is managed by OnyxDAO. Following this, Sun reiterated his accusations, this time directing attention to OnyxDAO and urging regulatory bodies to investigate.

The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the cryptocurrency exchange Gemini. The SEC informed Gemini’s litigation counsel on Monday that no enforcement action will be pursued against the company. Cameron Winklevoss shared this update on social media, noting that the decision comes nearly two years after the SEC began its investigation. Gemini was accused of offering unregistered securities through its “Earn” program alongside crypto lender Genesis Global Capital in January 2023. However, the agency clarified that the notice should not be interpreted as an exoneration. It also stated that this decision does not prevent future action based on the findings of the SEC’s investigation. Jack Baughman, Gemini’s legal counsel , also confirmed the news on X. He wrote, “Everything Cameron says is true, and more so. The SEC gov approached this investigation with a mission: shut down the crypto industry. There needs to be a complete rethink of how regulation is done, at both the federal and state level.” While the investigation’s closure is seen as a victory for Gemini, Cameron revealed the significant costs they faced during the legal process. According to him, Gemini’s legal bills amounted to tens of millions of dollars, with hundreds of millions in lost productivity and innovation. This, he argued, is just one example of the damage caused by the SEC’s aggressive stance toward the crypto industry. Related: Crypto Market Shaken by $245M Bitcoin Long Squeeze, Open Interest Declines “The SEC’s behavior has not only hurt us but the broader crypto ecosystem and the American economy,” Winklevoss wrote in a statement. “We’ll never know how many engineers or projects were lost due to the regulatory climate created by the SEC.” Gemini’s case is not isolated; the SEC has also closed investigations into other crypto platforms like OpenSea, Coinbase, Robinhood, and UniSwap. Related: Dubai’s Virtual Assets Regulator Cracks Down on MKAN Coin for Illegal Operations Even with the investigation’s conclusion, the Winklevoss twins and other industry leaders have called for greater accountability within the SEC. the Winklevoss’ proposed several reforms, including the SEC paying back legal costs if it launches investigations without clear rules in place. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Famous author of Rich Dad Poor Dad Robert Kiyosaki has reaffirmed his support for Bitcoin following the recent price decline. In a post on X, Kiyosaki remarked that Bitcoin is “on sale” and revealed he is buying more. Kiyosaki expressed his sentiment as the price of Bitcoin has crashed to $82K today, a low point last seen in November 2024. However, Kiyosaki attributed this drop to broader financial instability, not Bitcoin itself. “The problem is not Bitcoin. The problem is our monetary system and our criminal bankers,” Kiyosaki wrote . Accordingly, he warned that America’s debt, which he claims exceeds $230 trillion when including social programs, puts the economy at risk. If foreign countries such as Japan and China stop buying U.S. bonds, he believes inflation will surge, leading to a dollar collapse. Kiyosaki’s comments sparked debate among investors and traders. Supporters echoed his concerns about fiat currency and praised Bitcoin’s long-term potential. Solix Trading acknowledged Bitcoin’s volatility but pointed out that many investors view it as a safeguard against a failing financial system. Brett Wilmot emphasized that those who take the time to research Bitcoin’s fundamentals will see its true significance, making short-term price swings less concerning. Related: Bitcoin’s Sideways Slide: Is the Dip a Correction or Start of Bear Market? On the other hand, Matthew Ferris disagreed with Kiyosaki, arguing that Bitcoin is not the right asset to hold in times of economic uncertainty. He maintained that gold, silver, and other hard assets are more reliable. Chad Boston also took a different stance, suggesting that XRP might be a better alternative. Despite Bitcoin’s drop, some analysts believe its fundamentals remain strong. “Bitcoin is dropping, entering bear market territory. Yet the fundamentals remain the same, if not stronger than ever,” commented Lance. Notably, Bitcoin price plummeted to a new 120-day low of $82,250 yesterday as U.S. tech stocks sell-off spread bearish sentiment. Market data also shows that a prolonged selling spree among Bitcoin ETFs could escalate the BTC price downtrend further. Related: Crypto Market Shaken by $245M Bitcoin Long Squeeze, Open Interest Declines The move toward AI stocks contributed to Bitcoin’s decline, reflecting a growing preference for equities because of inflation concerns and geopolitical risks. For instance, NVIDIA’s strong Q4 earnings saw its stock jump 4% and add $125 billion in market value, drawing investor capital away from Bitcoin. Furthermore, U.S. Bitcoin ETFs saw their largest outflow on record on Tuesday, with over $1.1 billion outflows. Over the last six days, the outflow figures reached $2.1 billion, weakening market support. Analysts believe Bitcoin could face more profound losses below $80,000 if this trend continues. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bitcoin (BTC) Once more, guiding mentions on social media is $BTC . Many people are talking about its price swings, market research, and generally shared trading cues. Not only that, some important figures in the crypto scene actively participate in conversations over Bitcoin reserves and market dominance. This shows a rising curiosity in $BTC as the primary financial tool used in the sector. Dogelon Mars (ELON) Particularly in relation to Elon Musk’s impact on Dogecoin, the mention on $ELON has flown. Some users are wondering whether Musk is merely an outside influence on Dogecoin’s price swings or if he is really actively involved with it. Moreover, Musk’s activities with blockchain technologies and the US Treasury Department raise questions. Not few also draw attention to the political influence of his several choices and ideas, which have generated a lot of debate among crypto enthusiasts. Ethereum (ETH) Particularly because of the sharply growing institutional interest, $ETH has been one of the trending terms. Globally operating investment company BlackRock has allegedly bought $ETH in huge quantities, with many thinking that big investments from reputable institutions could improve Ethereum’s status in the crypto ecosystem, and this action has inspired an optimistic stance in the market. Furthermore, the performance of ETH on the market has started to be a hot issue on several social media channels. Ledger AI (LEDGER) Especially in relation to crypto asset security, the mention on LEDGER has also been more intense. Often referred to as the primary method in safeguarding private keys and recovery phrases, Ledger AI is a hardware wallet. Conversely, the crypto community also talked about the event on the XRP Ledger whereby block production was momentarily halted. This sparked new debates on security in handling digital assets and generated questions about the dependability of the network. Tether (USDT) Especially in terms of take-profit targets and profit percentages, USDT is still among the most often mentioned stablecoins. The great trading volumes show that USDT remains a popular choice for traders purchasing and selling other cryptocurrencies. Both individual and institutional investors are drawn to its consistent position in the crypto trading space. FTX Token (FTT) FTX is trending again after news of the creditor payment plan broke, as we previously reported. There’s been more chatter about claims under $50,000, set to start on February 18, 2025 Some creditors might put their money back into crypto, and people on Twitter and crypto forums are already debating how that could affect the market.