Crypto Week In Review: SEC Lawsuit, X's Trading Plans And DeSantis' Bitcoin Promise

This week in the crypto sector was marked by significant developments that have stirred the market. The Securities and Exchange Commission (SEC) launched a lawsuit against internet marketer Richard Heart, leading to a decline in major cryptocurrencies. Meanwhile, X, formerly known as Twitter, is reportedly considering adding Bitcoin and Dogecoin trading. Dogecoin showed signs of a possible bull flag, while Shiba Inu unveiled a security enhancement with decentralized identity verification. Lastly, Florida Governor Ron DeSantis made a bold statement about the future of Bitcoin under his potential presidency.

Major Cryptocurrencies Tumble After SEC Lawsuit
Major cryptocurrencies, including Bitcoin, Ethereum ETH/USD, and Dogecoin, experienced a decline after the SEC launched a lawsuit against internet marketer Richard Heart and his projects Hex, PulseChain, and PulseX. The market also grappled with the consequences of a recent exploit on the stablecoin exchange Curve. Read the full article here.

X Considers Adding Bitcoin, Dogecoin Trading
Elon Musk's super app, X, formerly known as Twitter, is reportedly seeking a financial-data giant to build a trading hub within the app. This move could potentially allow users to trade cryptocurrencies along with other assets. Read the full article here.

Dogecoin Bounces Up From Support
Dogecoin DOGE/USD was falling slightly during Monday’s 24-hour trading session on lower-than-average volume, consolidating above the 200-day simple moving average (SMA). The consolidation is taking place within an inside bar pattern on the daily chart, indicating a period of consolidation. Read the full article here.

Shiba Inu Unveils Security Enhancement
Meme coin Shiba Inu SHIB/USD is planning to integrate Self-Sovereign Identity (SSI) into its protocols, a move expected to enhance the security of the network and provide users with more control over their digital identities. Read the full article here.

Ron DeSantis’s Bold Statement on Bitcoin
At a campaign event in New Hampshire, Republican presidential candidate and Florida Governor Ron DeSantis called out the Biden Administration for what he perceived as a "war" on Bitcoin BTC/USD and cryptocurrencies. DeSantis vowed to bring an end to such policies if elected as President. Read the full article here.

Stay informed and explore further on Benzinga's cryptocurrency coverage by following this link.

Crypto Photo by Fernando Cortes on Shutterstock