Check out U.Today's top three news stories over the past day.
On Tuesday, March 11, the SEC announced its decision to delay Grayscale's application to convert its XRP trust into an ETF. The agency stated that it finds it "appropriate" to extend the period within which it will decide what action to take on the proposed rule change. Following the news, the price of XRP dropped by 1.2% but has now recovered, trading at $2.32, up 7.11% at press time. As stated in the SEC's release, the agency designated May 21, 2025, as the date by which it will either approve or disapprove Grayscale's XRP ETF filing. As a reminder, Grayscale filed its application for XRP ETF in late January, which then was acknowledged by the regulator in mid-February. Notably, this was the very first XRP ETF filing that received acknowledgment from the SEC.
As Dogecoin returns to its pre-crash levels, the meme coin's open interest has surged by 6% overnight. This reflects renewed interest among futures traders, as they have committed 8.42 billion DOGE to Dogecoin. Currently, DOGE is valued at $0.1675, trading up 2.84% over the past 24 hours. The largest share of DOGE futures, worth 2.19 billion DOGE, is on the Binance exchange, with the OKX and Bybit exchanges being notable contributors to the trend (889.74 million DOGE and 1.38 billion DOGE, respectively). Despite current market conditions, traders have reasons to be optimistic about their long-term investments in DOGE. The filing for a Dogecoin ETF with the SEC serves as a promising development for investors overall. Additionally, the number of active DOGE addresses is actively rising, which shows increasing user engagement and optimism about a potential rally in the future.
In a recent X post, OKX stated that it is not under investigation, following Bloomberg's report that EU regulators are scrutinizing its Web3 service linked to a substantial hack at Bybit. The regulators are trying to determine whether OKX's service complies with the recently adopted Markets in Crypto Assets Regulation (MiCA). If any violation is found, OKX could potentially face penalties. However, OKX insists that its Web3 wallet services are comparable to those offered by other industry participants and claims to have taken steps to freeze stolen funds associated with the hack. The exchange has now accused Bybit of spreading "misinformation" among journalists, while stressing that it is willing to help Bybit to address the repercussions of the hack. As a reminder, in late February, the Bybit exchange lost $1.4 billion as a result of a devastating hack. It is believed that North Korean hackers from Lazarus Group are responsible for the breach.
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