Crypto Market Update: SEC Admits Past Crypto Cases Provided No Benefit
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin (BTC) was priced at US$71,769.46, up by 5.7 percent over the last 24 hours.
Chart via TradingView
Bitcoin price performance, April 8, 2026.
Bitcoin hit a three-week high on Wednesday after a sudden ceasefire deal between Washington and Tehran sent a wave of relief through global financial markets.
The leading cryptocurrency surged nearly 5 percent to top US$72,700, marking its strongest performance since mid-March and dragging the rest of the market upward. This rally was sparked by President Donald Trump’s decision to suspend bombing campaigns for two weeks, a move aimed at reopening the economically vital Strait of Hormuz.
Furthermore, US spot Bitcoin ETFs drew in an impressive US$471.3 million on Monday alone, a dramatic pivot from the heavy outflows seen just weeks prior.
Even with this jump, Bitcoin still sits roughly 40 percent below its US$126,000 peak from last October, highlighting the long road to a full recovery.
Ether (ETH) was priced at US$2,255.81, up by 8.3 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$1.38, up by 5.6 percent over 24 hours.
- Solana (SOL) was trading at US$84.78, trading 6.8 percent higher over 24 hours.
​Today’s crypto news to know
SEC concedes past crypto crackdowns failed to protect investors
In a surprising policy reversal, the US Securities and Exchange Commission (SEC) has admitted that many of its past crypto enforcement actions provided no real benefit to investors.
A formal report for fiscal year 2025 acknowledges that the agency misallocated taxpayer resources to pursue “novel legal theories” and chase media headlines.
Under the new leadership of Chairman Paul Atkins, the commission is officially moving away from its previous strategy of “regulation by enforcement.”
The report notes that dozens of prior cases involving record-keeping and registration violations failed to identify any direct financial harm to the public. Atkins emphasized that the SEC will now focus its energy on actual fraud, market manipulation, and individual wrongdoers who cause tangible losses.
CME Group expands suite with Avalanche and Sui
CME Group is doubling down on its crypto derivatives strategy by adding Avalanche (AVAX) and Sui (SUI) futures to its regulated exchange on May 4.
The launch will include standard contracts alongside “micro” versions to accommodate both massive hedge funds and smaller professional traders. CME recently saw record-breaking demand, with March crypto trading volumes averaging US$8 billion in notional value per day.
To keep up with the “always-on” nature of the market, the exchange also confirmed it will move its crypto products to a 24/7 trading schedule starting May 29.
Paysafe, MoonPay launches crypto payment option to gaming
A new partnership between Paysafe and MoonPay is officially bringing “Pay with Crypto” options to the high-growth US iGaming and fantasy sports sectors.
This integration allows players to fund their accounts using stablecoins like USDC or other major digital assets, circumventing traditional banking hurdles.
Once a user selects the crypto option at checkout, the assets are instantly converted into US dollars via MoonPay’s commerce checkout system. Players can execute these transactions quickly by scanning a mobile QR code or linking their existing digital wallets directly.
For gambling operators, the system offers flexible settlement choices, including the ability to receive funds in stablecoins or fiat through virtual accounts.
The rollout is supported by the Paysafe Gateway, which already manages traditional card payments and various digital wallets under a single integration.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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