SEC Delays XRP ETF Decision, 8.42 Billion Dogecoin Stun Futures Traders, OKX Denies Being Under EU Investigation: Crypto News Digest by U.To...

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U.Today's Top Three Crypto News Stories:

SEC Delays XRP ETF Decision

On March 11th, the SEC announced a delay in its decision on Grayscale's application to convert its XRP trust into an ETF. The agency stated it needs more time to review the proposed rule change, extending the decision deadline to May 21, 2025. Following the announcement, XRP's price initially dropped 1.2% but has since recovered, trading at $2.32 (up 7.11% at the time of writing). Grayscale's application, filed in late January and acknowledged in mid-February, marked the first XRP ETF filing received by the SEC.

8.42 Billion Dogecoin (DOGE) Fuels Futures Trading Surge

As Dogecoin returns to pre-crash levels, open interest in DOGE futures has surged 6% overnight. This reflects renewed trader confidence, with a total of 8.42 billion DOGE committed to futures contracts. DOGE is currently priced at $0.1675, up 2.84% in the last 24 hours. Binance holds the largest share of DOGE futures (2.19 billion DOGE), followed by OKX (889.74 million DOGE) and Bybit (1.38 billion DOGE). The ongoing filing for a Dogecoin ETF with the SEC, coupled with a rising number of active DOGE addresses, suggests growing optimism and potential for future price increases.

OKX Denies EU Investigation Following Bloomberg Report

OKX has denied being under investigation by EU regulators, contradicting a Bloomberg report suggesting scrutiny of its Web3 service in relation to a significant hack at Bybit. The EU regulators are assessing OKX's compliance with the Markets in Crypto Assets Regulation (MiCA). While potential penalties exist for violations, OKX maintains its Web3 wallet services are comparable to industry standards and that it has frozen funds stolen in the Bybit hack. OKX has accused Bybit of spreading misinformation and offered assistance in addressing the aftermath of the $1.4 billion hack, allegedly perpetrated by the Lazarus Group, a North Korean hacking collective. Read the original article on U.Today