Crypto Markets in Motion: Whale Moves, Wall Street, Lawsuits & Token Surges

29,532,534 XRP Transferred to Coinbase: Market Reacts to Whale Movement

In the last 24 hours, XRP experienced a notable rebound, rising from $2.06 to $2.14, supported by bullish sentiment in the market. A significant event during this period was the transfer of 29,532,534 XRP, valued at $62.6 million, from an unknown wallet to Coinbase, as reported by Whale Alert and covered by U.Today. Such large transfers to exchanges often indicate a potential intention to sell, which can trigger bearish sentiment among investors.

If the whale behind this transfer decides to sell the entire amount, it could prompt similar sell-offs and exert downward pressure on XRP’s price, potentially erasing recent gains. As of press time, XRP was trading at $2.12, marking a 3.49% increase in the last 24 hours. Trading volume also surged by 50.45% to $2.43 billion, reflecting heightened investor activity. Compared to its 30-day low of $1.69, XRP is no longer considered cheap, and the recent dip provided an opportunity for investors, including whales, to accumulate at a discount.

Metric	Value
XRP Transfer Amount	29,532,534 XRP
Transfer Value	$62.6 million
Current Price	$2.12
24h Price Change	+3.49%
24h Trading Volume	$2.43 billion (+50.45%)

Summary: A massive XRP transfer to Coinbase has raised concerns about potential sell-offs, but strong trading activity and bullish sentiment have so far supported the price. (Source: U.Today)

Oregon Attorney General Sues Coinbase, Labels 31 Tokens as Unregistered Securities

Oregon’s Attorney General, Dan Rayfield, has filed a lawsuit against Coinbase, alleging that the exchange violated state securities law by facilitating the sale of unregistered cryptocurrencies to Oregon residents. The complaint, filed in Multnomah County Circuit Court, claims that Coinbase offered and sold 31 cryptocurrencies as investment contracts, including XRP, SOL, ADA, and others. This list is significantly broader than the SEC’s previous case, which named only 13 tokens.

The lawsuit accuses Coinbase of “continuously and repeatedly” violating Oregon Securities Law (ORS 59.115).
Coinbase’s Chief Legal Officer, Paul Grewal, criticized the lawsuit, stating that the Attorney General has accused a wide range of projects of violating securities laws and called the action “an embarrassing waste of Oregon taxpayer dollars.”
Coinbase notified approximately 560,000 Oregon users about the lawsuit.
The SEC had previously sued Coinbase in June 2023, but that lawsuit was dismissed in February 2025.
The Oregon AG’s complaint names 18 more cryptocurrencies than the SEC’s original case.

“No matter your asset or project, the Oregon Attorney General has accused you of violating securities laws and fleecing your token holders.” – Paul Grewal, Coinbase CLO

The SEC has recently shifted its approach, scaling back its special crypto enforcement unit and focusing on establishing a comprehensive regulatory framework under the current administration.

Summary: Oregon’s lawsuit against Coinbase expands the regulatory scrutiny of crypto assets, naming 31 tokens as unregistered securities and affecting over half a million users in the state. (Source: Bitcoinist.com)

SEC and Federal Prosecutors Charge Man in $200 Million Crypto Trading Scheme

The US Securities and Exchange Commission (SEC) and federal prosecutors have charged Ramil Palafox, a dual US and Philippine citizen, with orchestrating a $200 million crypto trading scheme that defrauded 90,000 investors. According to Cointelegraph, Palafox’s company, PGI Global, operated from January 2020 to October 2021, using a multilevel marketing model to run a “Ponzi-like” scam.

Palafox allegedly misappropriated over $57 million in investor funds.
He attracted investors with promises of guaranteed profits from Bitcoin and forex trading, leveraging false claims of crypto expertise and an AI-powered auto-trading platform.
Lavish recruitment events were held in Dubai and Las Vegas, and referral bonuses were offered to bring in new investors.
Funds were used for personal luxury purchases, including cars, watches, and homes.
The SEC seeks a permanent injunction, repayment of ill-gotten gains, and civil penalties.
The Justice Department has charged Palafox with wire fraud, money laundering, and unlawful monetary transactions.
Assets to be forfeited include over $1 million in cash, 17 vehicles (including two Teslas, a Ferrari 458 Special, two Lamborghinis, and two Porsches), and various luxury goods.

The scheme involved several linked companies, including Praetorian Group International Trading Inc., whose website was seized by the Department of Justice in 2021.

Summary: The SEC and federal prosecutors have taken action against a $200 million crypto fraud, highlighting the risks of unregulated investment schemes in the sector. (Source: Cointelegraph)

Crypto Firms Expand into Wall Street Territory Amid Growing Synergy

Cryptocurrency firms and exchanges are increasingly entering traditional finance (TradFi) territory, launching investment offerings that bridge the gap between digital assets and conventional financial products. According to TradingView, Bitget CEO Gracy Chen noted a “growing synergy” between the two sectors, with crypto players seeking to bridge opportunities in TradFi.

Kraken recently launched access to 11,000 US-listed stocks and ETFs as part of its global expansion into traditional finance.
This move followed a record-breaking two-day loss of over $5 trillion in the S&P 500, triggered by US President Donald Trump’s announcement of reciprocal import tariffs.
Coinbase CEO Brian Armstrong stated that the company aims to modernize the global financial system and bring more of the world’s GDP onto crypto rails.
Coinbase’s spokesperson described the relationship between digital and traditional assets as “inherently symbiotic.”
Blockchain technology offers speed and transparency, while TradFi brings trust, scale, and compliance, leading to an “inevitable convergence.”
Platforms like eToro and Robinhood have also introduced cryptocurrency offerings.

“The lines are blurring — investors want flexibility, and products that can straddle both worlds are naturally attractive.” – Gracy Chen, Bitget CEO

Summary: The convergence of crypto and traditional finance is accelerating, with major exchanges offering both digital and conventional investment products to meet evolving investor demands. (Source: TradingView)

DeepBook Protocol (DEEP) Price Doubles After Binance Futures Listing

DeepBook Protocol’s token (DEEP) saw its price double in just 24 hours following its listing on Binance Futures, as reported by CCN.com. The rally was further boosted by a listing on South Korean exchange Upbit. On April 15, DeepBook announced the launch of v3.1 on the Sui Network, introducing permissionless pools, lower fees, and deeper liquidity.

DEEP broke out from a descending resistance trend line on April 9 and reclaimed the $0.090 resistance area.
On April 22, the price reached a high of $0.230, touching the 0.618 Fibonacci retracement resistance level.
Technical indicators such as RSI and MACD are overbought but show no bearish divergences.
If the rally continues, the all-time high is a 66% price increase away from current levels.
Wave analysis suggests a local top may be near, with a potential corrective decline toward the $0.116–$0.142 support range before resuming its ascent.

Date	Event	Price Impact
April 9	Breakout from resistance	Trend reversal
April 15	v3.1 launch on Sui Network	Increased momentum
April 22	Binance & Upbit listings	Price doubled to $0.230

Summary: DEEP’s price surge highlights the impact of major exchange listings and protocol upgrades, though technical analysis suggests a short-term correction may follow. (Source: CCN.com)

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