Stellar and XRP Surge 20% While Bitcoin and Ethereum Stagnate
US crypto entrepreneur Jed McCaleb is behind two pumping projects today.
Stellar (XLM) has surged by 20% overnight to reach 63 cents a coin.
The last time XLM crossed 60 cents was, very briefly, back on February 13, but for the three years prior its price has stayed below 50 cents. In fact, the last time XLM traded above 50 cents was back around the time it reached its all-time high of 93 cents back in January 2018.
Stellar co-founder and CTO Jed McCaleb is surely doubly happy this morning. XRP, the coin of the other project the American crypto entrepreneur founded and was CTO of, payments company Ripple, has also surged 20%. At the time of writing, XRP is valued at $1.42. McCaleb has billions of dollars of XRP holdings and, per an agreement with Ripple, can sell them periodically.
Coinbase Cryptocurrency Exchange Gets Clearance from US Regulator for Landmark Nasdaq Listing
Coinbase, the largest US cryptocurrency exchange, plans to go public via a direct listing with its shares to start trading on Nasdaq on April 14. By Reuters | Updated: 2 April 2021 13:59 IST
Photo Credit: Reuters
Coinbase said its stock in private market traded at an average price of $343.58 (roughly Rs. 25,200)
Highlights
In a direct Nasdaq listing no shares are sold in advance unlike an IPO
Visa also said it will allow use of the USD Coin to settle transactions
Coinbase, the largest US cryptocurrency exchange, has received approval from regulators to list its shares on the Nasdaq, paving the way for a landmark victory for cryptocurrency advocates.
Friday, 02 Apr 2021 06:00 AM MYT
A Coinbase App and logo is seen displayed on a smartphone and a laptop in the background January 1, 2021. Reuters pic
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NEW YORK, April 2 Coinbase Global Inc, the largest US cryptocurrency exchange, has received approval from the US Securities and Exchange Commission (SEC) to list its shares on the Nasdaq, paving the way for what will be a landmark victory for cryptocurrency advocates.
The company, which plans to go public through a so-called direct listing, expects to list its shares on the Nasdaq under the ticker ‘COIN’ on April 14.
Ruling on Nasdaq diversity plan for boards is delayed by SEC
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FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2, 2015. REUTERS/Brendan McDermid/File Photo
(REUTERS)
Alexander Osipovich
, The Wall Street Journal
A final decision on whether to approve or reject the proposal will likely come out this summer
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The Securities and Exchange Commission postponed a decision on Nasdaq Inc.’s plan to press for greater diversity on corporate boards.
In a notice posted on its website Wednesday, the SEC said it would take additional time to rule on the Nasdaq proposal, while also seeking further public comment. The decision means that a final decision on whether to approve or reject the proposal will likely come out this summer. Nasdaq’s plan needs SEC approval to take effect.
GameStop frenzy prompts SEC to weigh more short sale transparency
FILE PHOTO: REUTERSPremium
Dave Michaels
, The Wall Street Journal
House lawmakers meeting Thursday plan to examine the GameStop trading and discuss the dearth of short-sale data
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Wall Street’s main regulator is weighing whether to require more transparency of short selling and the opaque network of stock lending and borrowing that facilitates it, according to people familiar with the matter.
The Securities and Exchange Commission was ordered 11 years ago to impose such rules but never did it. Now, dealing with the fallout from frenetic trading in GameStop Corp. shares, the agency under new leadership is considering using its authority to shine more light on the mechanics of the bearish trades.