U.Today presents the top three news stories over the past day.
Massive blow to Ripple as judge denies key motion
Yesterday, June 26, Judge Analisa Torresdenied a key motion filed by Ripple and the SEC for an indicative ruling. Previously, the parties asked the judge to dissolve a permanent injunction and reduce Ripple’s penalty from $125 million to $50 million; the request was based on settlement agreement and invoked Rule 60(b), which makes it possible for a court to relieve a party from a final judgment. However, the court stated that it is not persuaded by the arguments in favor of modifying the final judgment. Judge Torres emphasized that court rulings serve the public, not just the litigants, and cannot be simply undone. The judge also recalled the SEC's request to introduce harsher penalties against Ripple and its claims that the company will continue violating the law. "None of this has changed—and the parties hardly pretend that it has," said Judge Torres. As reported by U.Today, Ripple cited the SEC's drop of many other crypto cases to convince the judge to amend the final judgment. However, the judge noted that none of the cases actually involved injunctions or penalties.As previously stated by Bill Morgan, if the motion is not allowed, the appeal and cross appeal processes would continue, prolonging the case.
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Metaplanet's holdings top 12,000 BTC
Metaplanet, a Japanese publicly traded investment firm, has recently madean announcement aboutan additional purchase of 1,234 Bitcoins on its official X account. At the moment, the firm's total holdings stand at 12,345 BTC, valued at around $1.3 billion at current prices. This makes Metaplanet the seventh-largest corporate holder of Bitcoin and the only Asian company in the top 10. Originally involved in hospitality, Metaplanet pivoted to Bitcoin last April with an initial purchase of roughly $6.5 million. By the end of 2026, the firm aims to hold 21,000 BTC and plans to reach 210,000 BTC by 2027, which would represent 1% of Bitcoin's total supply. Earlier this month, Metaplanet said that it intended to raise a total of $5 billion for funding its Bitcoin purchases. The sum will mainly be raised via equity warrants issued by its Florida-based unit, enabling access to the U.S. capital markets.
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Shiba Inu (SHIB) price just got 66.3 trillion reasons not to add zero
According to data provided byIntoTheBlock, Shiba Inu is demonstrating signs of structural strength, with66.3 trillion SHIB tokens concentrated between the $0.000009 and $0.000012 price range. This level of concentrated positioning acts like a shield, making it unlikely for the price to fall below this range anytime soon. A total of 43.9 trillion SHIB are held in profit between $0.000009 and $0.000011, while another 22.4 trillion are at breakeven around $0.000011 to $0.000012. Together, these 66.3 trillion SHIB form a solid price floor. This indicates that hundreds of thousands of addresses are clustered within a narrow range, defending a level that is both psychologically and economically resilient. High wallet density zones create friction, making prices less likely to fall unless a major shock occurs. Despite market volatility, SHIB holders are in a zone where it is more likely to go up than down, unless a significant event triggers a decline. At press time, SHIB is trading at $0.00001126, down 0.02% over the past 24 hours, per CoinMarketCap.
