Top Stories of The Week
Australian Fintech Finder Wins Final Verdict in Cryptocurrency Deposit Product Lawsuit
The Australian Federal Court made a final ruling that Finder.com and its subsidiary's revenue-generating deposit service, Finder Earn, did not violate local financial laws. With this decision, Finder has completely won a long-term lawsuit against the Australian Securities and Investments Commission (ASIC) over the past three years.
Last Thursday, Federal Court Judges Stewart, Chisholm, and Mear unanimously ruled that since Finder Earn is not a financial product, the Finder Wallet that provided it cannot be considered to have violated financial product-related laws. Finder stated on the same day through its official blog that the court maintained its initial ruling that "Finder Earn is not a financial product and complied with relevant laws".
This ruling is expected to serve as an important reference case for the legal status of cryptocurrency-based revenue products.
BitMine Purchases Ethereum Worth 2.8 Trillion Won in 16 Days... Signal of Institutional Investment Sentiment
Bitcoin mining company BitMine Immersion Technologies has drawn attention by purchasing Ethereum (ETH) worth $2.03 billion (approximately 2.8257 trillion won) in just 16 days. This has allowed BitMine to reclaim the top spot among companies with the largest Ethereum treasury holdings.
BitMine announced through a statement last Thursday that it had accumulated approximately 566,776 ETH during this period, indicating its intention to expand its influence in the Ethereum ecosystem. Tom Lee, co-founder of FundStrat and chairman of BitMine, emphasized, "With this purchase, we are approaching our goal of securing and staking 5% of the total Ethereum supply".
The industry interprets BitMine's large-scale accumulation as a signal of increasing institutional trust in Ethereum, and analysts believe it could impact ETH prices and on-chain liquidity.
XRP Price Plummets... Analysts Assess it as a "Healthy Adjustment"
Although the XRP price dropped by up to 19% in a single day as of Thursday, experts are interpreting this as a natural correction rather than an exceptional phenomenon. On the same day, the total cryptocurrency market capitalization decreased by 3% to $3.79 trillion (approximately 5,268.1 trillion won).
The XRP price fell from its intraday high of $3.66 to $2.95 (approximately 4,101 won), which is nearly a 19% drop from its recent peak. According to CoinTelegraph Markets Pro and TradingView statistics, this sharp decline was accompanied by excessive leverage position liquidations and liquidity shortages, and is considered within the expected range.
Many market analysts are still keeping the possibility of a double-digit price rebound for XRP open, viewing this short-term adjustment as a healthy foundation for future growth.
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