Wells notices are serious business in the financial regulatory arena, serving as preliminary warnings that outline the charges the SEC is considering.
The halving, by reducing the rate at which new Bitcoins are generated, emphasises scarcity and has historically been a precursor to price volatility and rallies.
The stablecoin is available on both the XRP Ledger and Ethereum blockchains.
This figure more than doubles the previous record of nearly $28.5 billion set in December 2023, marking a significant milestone in the blockchain’s history.
The heart of the SEC’s lawsuit, filed last June, accuses Coinbase of acting as an unregistered securities exchange, broker, and clearing agency.
The prosecution has called for a prison term ranging from 40 to 50 years.
This development was disclosed through a note in the Foundation’s GitHub repository, with a record dated 26 February 2024.
The fund will be based on the Ethereum blockchain and will comprise tokenised assets, a modern approach blending traditional finance with digital innovation.
The SEC is given up to 90 days to respond to this new amendment, with the deadline for a decision set for 23 May.
This surge has elevated Bitcoin’s market capitalisation beyond $1.4 trillion, surpassing Silver to become the eighth-largest asset globally.
