Election or Not; Bitcoin’s $100K Run Is On Its Way!

Here's what we've got for you today:

• Dan Tapiero Predicts Bitcoin Surge to $100K Regardless of Election Result

• SEC Sues Cumberland Over Alleged $2B in Unregistered Crypto Sales

• Crypto ETF Issuer Fidelity Says Breach Leaked Data of 77K Customers

• Ripple Files Notice of Cross-Appeal in Ongoing Legal Wrestle with the SEC

📈 Dan Tapiero Predicts Bitcoin Surge to $100K Regardless of Election Result

At the Permissionless conference in Utah, Dan Tapiero suggested that Bitcoin is on a path to hit $100,000, regardless of which candidate wins the election.

• Tapiero views Bitcoin as a proxy for the entire cryptocurrency market and believes its momentum is unstoppable.

• He also believes that the upcoming US election won't impact Bitcoin's growth, especially when considering the asset’s strong historical returns.

• Although Trump supports making the US a "crypto capital," and Harris only recently addressed blockchain, neither candidate is considered to be a key influence on Bitcoin's growth trajectory.

⚖️ SEC Sues Cumberland Over Alleged $2B in Unregistered Crypto Sales

The SEC has filed a lawsuit against Cumberland DRW, accusing the company of operating as an unregistered dealer.

• The SEC alleges that Cumberland sold over $2 billion in crypto assets since 2018 without complying to federal registration requirements. It also identified five cryptos handled by Cumberland, MATIC, SOL, ATOM, ALGO, and FIL, as securities.

• Cumberland claims it tried to comply by registering as a dealer-broker in 2019, but later found out the registration only covered Bitcoin (BTC) and Ethereum (ETH).

• The company also stated that it had engaged in good-faith talks with the SEC for five years, and the lawsuit is the first instance where specific transactions were outlined by the agency.

⚠️ Crypto ETF Issuer Fidelity Says Breach Leaked Data of 77K Customers

Fidelity Investments confirmed that a data breach compromised the personal information of more than 77,000 of its customers.

• Between Aug. 17 and 19, an attacker accessed customer names and personal identifiers through two newly established customer accounts.

• Fidelity was able to terminate the unauthorized access on Aug. 19 after discovering the breach and enlisted external security experts to help address the issue.

• The asset manager is offering the customers who were impacted by the breach free credit monitoring and identity restoration services for two years to help detect any unusual activity.

🤼 Ripple Files Notice of Cross-Appeal in Ongoing Legal Wrestle with the SEC

The appeals will be heard by the Court of Appeals for the Second Circuit, one of the thirteen federal appellate courts that review cases decided by the district courts. 

• Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed that the SEC will not appeal the ruling that XRP is not a security and even shared that the agency apologized for suggesting otherwise.

• Alderoty believes the SEC might try to appeal the ruling regarding Ripple’s programmatic XRP sales and other distributions, but he is confident the regulator will lose again.

• The SEC initially sued Ripple in 2020, and accused the company of raising $1.3 billion through the sale of XRP, which it believed was an unregistered security.

👀 QUICK NEWS

• Trump-Themed PoliFi Tokens Buck Bitcoin Downtrend as China Stimulus Hopes Return

• Bitnomial Sues SEC Over Claim that XRP is a Security

• South Korea May Soon Allow Bitcoin Spot ETFs

• Dubai’s Crypto Watchdog Issues Cease-and-Desist Orders to 7 Firms

• Justin Sun Elected Prime Minister of Liberland Micronation

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