Coin Market

SEC closes investigation into Immutable nearly 5 months after Wells notice

Published

5 days ago

March 25, 2025

Web3 gaming platform Immutable says the US Securities and Exchange Commission has closed its investigation into the company, clearing it of any further action.

Immutable — the firm behind the Ethereum layer-2 ImmutableX — said in a March 25 statement that the SEC shut its inquiry into the firm without finding wrongdoing and “closes the loop on the Wells notice issued by the SEC last year.”

In November, Immutable said it received a Wells notice from the regulator — a letter informing that the SEC is considering an enforcement action, typically sent after it concludes there is evidence of possible securities law violations.

“We are pleased the SEC has concluded its inquiry. This marks a significant milestone for the crypto industry and gaming as we advance towards a future with regulatory clarity,” Immutable president and co-founder Robbie Ferguson said in a statement.

An Immutable spokesperson told Cointelegraph that the SEC sent it a letter of termination that didn’t explain why it had concluded its probe. The spokesperson said the letter was unprompted and that the SEC’s review of information Immutable had sent “appears to have resulted in them closing the investigation.”

Immutable said in a November blog post that it believed the SEC was targeting the 2021 “listing and private sales” of its self-titled Immutable (IMX) token.

Immutable’s X post after receiving a Wells notice in November 2024. Source: Immutable

The company said it had a 10-minute call with the SEC after it had issued the notice where it alleged a 2021 Immutable blog post stating a pre-launch investment made in the IMX token at a price of $0.10, which was issued at a “$10 pre-100:1 split,” was inaccurate and implied there was no exchange of value between the parties.

At the time, Immutable said it was “confident in its position” and would fight the regulator’s claims.

The SEC has dropped many pending and in progress enforcement actions against crypto companies under President Donald Trump, whose administration has worked to defang the agency to make good on his promise to alleviate the crypto industry from regulatory action.

Last month, the SEC stopped its investigations into non-fungible token marketplace OpenSea, trading platform Robinhood, decentralized exchange developer Uniswap Labs and crypto exchange Gemini.

The regulator has also dropped a slew of its high-profile lawsuits against crypto firms, including those against Ripple Labs, Coinbase and Kraken.

Despite the SEC backing off from Immutable, the Manhattan-based Rosen Law Firm has cited the Wells notice in trying to spin up a securities class-action lawsuit against the firm over its IMX token offering, which Immutable’s spokesperson said it’s “not concerned about.”

In its statement, Immutable said that major triple AAA gaming studios “have previously cited legal and compliance risks as key barriers to entry” into the Web3 gaming space.

“However, with a clear regulatory framework on the horizon, this is expected to unlock further investment and opportunities to tokenize the now more than $100 billion market for in-game purchases,” it added.

Web3 Gamer: Classic Sega, Atari and Nintendo games get crypto makeovers

Coin Market

Bitcoin bottom ‘likely’ at $80K, opening door for TON, CRO, MNT and RENDER to rally

Published

4 hours ago

March 30, 2025

Bitcoin (BTC) bulls are trying to start a recovery but selling at higher levels continues to disarm each attack of the range highs. Veteran trader Peter Brandt said in a post on X that Bitcoin has broken down from a bear wedge pattern, giving it a target objective of $65,635.

The current macroeconomic environment and the fears of a prolonged trade war have created a 40% possibility of a recession in 2025, according to Coin Bureau founder Nic Puckrin. Puckrin said that a recession and the current macroeconomic uncertainty could put pressure on risky assets such as cryptocurrencies.

Crypto market data daily view. Source: Coin360

However, not everyone is bearish on Bitcoin in the near term. Analyst Stockmoney Lizards said in a post on X that Bitcoin’s local bottom could be between $82,000 and $80,000. The analyst anticipates Bitcoin to make a reversal next week.

If Bitcoin starts a recovery, select altcoins are likely to move higher. Let’s look at the charts of the top cryptocurrencies that are showing a bullish setup.

Bitcoin price analysis

Bitcoin’s failure to rise above the resistance line may have tempted selling by traders. The bears will try to pull the price toward the critical $80,000 support.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average ($85,253) is flattish, and the relative strength index (RSI) is just below the midpoint, giving a slight advantage to the bears. If the $80,000 support cracks, the BTC/USDT pair could plunge to $76,606.

On the other hand, if the price turns up from the current level or $80,000, it improves the prospects of a rally above the resistance line. If that happens, it suggests an end of the corrective phase. The pair could rally to $95,000 and then to $100,000.

BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 20-EMA has turned down on the 4-hour chart, and the RSI is in the negative territory, signaling that bears are in control. If the price turns down from the current level, the pair could slide to $80,000 and then to $78,000.

Buyers will have to drive and maintain the price above the 20-EMA to signal strength. The pair may then rise to the resistance line, which is a critical resistance to watch out for. The bullish momentum is expected to begin on a break above $89,000.

Toncoin price analysis

Toncoin (TON) bounced off the moving averages on March 30, indicating a positive sentiment.

TON/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($3.58) and the RSI in the positive zone indicate advantage to buyers. The bulls will try to strengthen their position by pushing the price above $4.14. If they can pull it off, the TON/USDT pair may start a new upmove to $5 and, after that, to $5.65.

Sellers will have to yank the price below the $3.3 support to seize control. Such a move signals that bears remain sellers on rallies. The pair could plummet to $2.81 and eventually to $2.64.

TON/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair turned up from the uptrend line, indicating that the bulls are viewing the dips as a buying opportunity. The pair could reach the overhead resistance of $4.14, where the bears are expected to step in. However, if buyers pierce the resistance, the pair could start the next leg of the upmove toward $5.

The bears will be back in the driver’s seat if they sink and sustain the price below the uptrend line. The pair may then drop to $3.28.

Cronos price analysis

Cronos (CRO) broke out of the moving averages on March 24, signaling that the downtrend could have ended.

CRO/USDT daily chart. Source: Cointelegraph/TradingView

The CRO/USDT pair is facing selling near $0.12, but a positive sign in favor of the bulls is that they have not allowed the price to sustain below the $0.10 support. This suggests that buyers are trying to form a higher low. If the bulls shove the price above $0.12, the pair could rally toward $0.14.

Sellers are likely to have other plans. They will try to sink the price below the moving averages and trap the aggressive bulls.

CRO/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair has been range-bound between $0.10 and $0.12, indicating indecision between the bulls and the bears. The 20-EMA is sloping up gradually, and the RSI is just above the midpoint, giving a slight edge to the bulls. A break and close above $0.11 increases the likelihood of a rally above $0.12.

Sellers will be back in the driver’s seat if they sink and maintain the price below the 50-SMA. That could pull the pair down to $0.08.

Mantle price analysis

Mantle (MNT) failed to rise above the 50-day SMA ($0.84) in the past few days, but a positive sign is that the bulls are trying to hold the price above the 20-day EMA ($0.80).

MNT/USDT daily chart. Source: Cointelegraph/TradingView

If the price rebounds off the 20-day EMA with strength, it will suggest a change in sentiment from selling on rallies to buying on dips. That improves the prospects of a break above the 50-day SMA. If that happens, the MNT/USDT pair could ascend to $0.94 and later to $1.06.

Contrary to this assumption, if the price continues lower and breaks below $0.77, it will tilt the short-term advantage in favor of the bears. The pair may then tumble to $0.72, delaying the start of the up move.

MNT/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 4-hour chart is facing stiff resistance at $0.85. The pair may dip to $0.77, which is a critical support to watch out for. If the price rebounds off $0.77, it will signal that the bulls are buying on dips. That could keep the pair stuck between $0.77 and $0.85 for some time. A break and close above $0.85 could push the pair toward $0.95.

Sellers will have to pull the price below $0.77 to gain the upper hand. The pair could then drop toward $0.69.

Render price analysis

Render (RNDR) has been in a strong downtrend for several weeks, but the bulls pushed the price above the 50-day SMA ($3.77) on March 25, signaling demand at lower levels.

RNDR/USDT daily chart. Source: Cointelegraph/TradingView

The bears have pulled the price to the 20-day EMA ($3.57), which is an important level to watch out for. If the price rebounds off the 20-day EMA with force, the bulls will try to propel the RNDR/USDT pair to $5 and later to $6.20.

This positive view will be invalidated in the near term if the price continues lower and closes below $3.05. That signals aggressive selling at higher levels. The pair may slump to $2.83 and subsequently to $2.52.

RNDR/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 20-EMA has turned down, and the RSI is in the negative territory on the 4-hour chart, indicating an advantage to sellers. A break and close below the uptrend line will further strengthen the bears, pulling the pair to $3.

The first sign of strength will be a break and close above the moving averages. That could open the doors for a rally to $4. The up move could accelerate after the pair closes above $4.20, completing a bullish head-and-shoulders pattern.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Centralization and the dark side of asset tokenization — MEXC exec

Published

4 hours ago

March 30, 2025

Tracy Jin, the chief operating officer at the MEXC crypto exchange, warns that tokenizing real-world assets (RWAs) carries a substantial amount of centralized risks that can lead to censorship, liquidity issues, legal uncertainty, cybersecurity problems, and asset confiscation through state or third-party intermediaries.

In an interview with Cointelegraph, the executive said that as long as tokenized assets remain under the purview of state regulators and centralized intermediaries, then “tokenization will simply be a new version of old financial infrastructure and not a financial revolution.” Jin added:

“Most tokenized assets will be issued on permissioned or semi-centralized blockchains. This gives authorities the power to issue restrictions or confiscate assets. The tokenization of assets such as real estate or bonds is still tied to the national legal system.”

“If the property or company behind the token is local, in a country with an unstable legal environment or high political volatility, the risk of confiscation increases,” the executive continued.

RWA tokenization is projected to become a multi-trillion sector in the next decade as the world’s assets come onchain, which will increase the velocity of money and extend the reach of capital markets worldwide.

The total market cap of the RWA sector. Source: RWA.XYZ

Estimates of the future RWA market differ dramatically

Tokenized real-world assets include stocks, bonds, real estate, intellectual property rights, energy, art, private credit, debt instruments, fiat currency, commodities, and collectibles.

According to RWA.XYZ, there are currently over $19.6 billion in tokenized real-world assets onchain, excluding the stablecoin sector, which surpassed a $200 billion market cap in December 2024.

A research report from Tren Finance polled large financial institutions including Citi, Standard Chartered, and McKinsey & Company; the report found that the participants predicted the RWA market to reach anywhere between $4 trillion to $30 trillion by 2030.

Financial institutions provide different forecasts for the future of the tokenized RWA market. Source: Tren Finance

McKinsey & Company predicted the RWA sector will encompass between $2 trillion to $4 trillion by 2030 — a relatively modest assessment compared to other forecasts.

Meanwhile, institutions like Standard Chartered and executives at the blockchain network Polygon say that the RWA market will reach $30 trillion in the next decade.

Magazine: Real-life yield farming: How tokenization is transforming lives in Africa

Coin Market

Binance debuts centralized exchange to decentralized exchange trades

Published

6 hours ago

March 30, 2025

Crypto exchange Binance has debuted centralized exchange (CEX) to decentralized exchange trades (DEX), allowing customers to use funds from their Binance wallets to execute DEX trades — eliminating the need for asset bridging or manual transfers.

According to the exchange, customers can use Circle’s USDC (USDC) and other supported stablecoins to acquire tokens on the Ethereum, Solana, Base, and BNB Smart Chain networks.

The new CEX to DEX feature is also compatible with other tools on the platform, including Binance Alpha, which gives users the ability to discover emerging tokens in early-stage development, and the Binance quick buy tool.

Incorporating CEX to DEX trading unlocks a smoother user experience and reduces the complexity of swapping digital assets.

This reduction in complexity addresses the technical barrier to entry inherent in the user experience that makes it difficult for new users to interact with digital assets. Complex user interfaces and clunky user experience is one of the most widely cited issues in crypto.

An online meme poking fun at the complexities in crypto. Source: Kev.Eth

Overcoming crypto’s user experience problem and getting crypto out of the AOL era

In November 2024, The WalletConnect Foundation and Reown established a standard framework for crypto wallets to enhance the user experience and promote ease of use.

Pedro Gomes, director of the WalletConnect Foundation, told Cointelegraph that the wallet standards framework focused on several key areas including, “minimizing clicks, reducing transaction friction, interoperability, and providing clear and accessible information.”

Anurag Arjun, co-founder of Avail — a unified chain abstraction solution — and the Polygon layer-2 network, also told Cointelegraph that current blockchain abstraction techniques are fragmenting liquidity across the ecosystem.

The Polygon co-founder said that each blockchain network has its own set of security assumptions, presenting challenges for interoperability; Arjun specifically cited bridging techniques as cumbersome for the end user.

Sandeep Nailwal, who founded Polygon alongside Arjun, recently voiced similar sentiments and said that crypto needs to enhance user experience before achieving mass adoption, likening the current state of crypto to the internet in the late 1990s.

Nailwal told Cointelegraph that crypto needs to adopt smoother fiat onboarding, better custody solutions that feature key recovery, and hardware wallets built into mobile devices to bring crypto out of the “AOL era” and achieve mass appeal.

Magazine: They solved crypto’s janky UX problem — you just haven’t noticed yet