Here are the top 5 latest cryptocurrency news updates for February 14, 2025:
1. Bitcoin Surges Above $97,000
Bitcoin (BTC), the world's oldest and most valued cryptocurrency, has risen above the $97,000 mark. This increase is part of a broader trend in the crypto market, with various factors contributing to the surge.
2. XRP Price Rises Amid ETF Speculations
XRP's price has seen a significant increase, reaching nearly $2.73. This rise is attributed to several factors, including the U.S. Securities and Exchange Commission (SEC) acknowledging a request from the New York Stock Exchange to list and trade a Grayscale ETF tracking XRP's price. Additionally, positive earnings reports from Coinbase and interest from companies like GameStop in cryptocurrencies have contributed to XRP's gains.
3. Coinbase Reports Strong Q4 2024 Earnings
Coinbase has announced impressive Q4 2024 results, with earnings of $4.68 per share, up from $1.04 the previous year. Revenue surged 138% to $2.27 billion, significantly exceeding expectations. Transaction revenue reached $1.6 billion, while subscription and services revenue increased by 71% to $641 million. Despite recent market volatility, Coinbase continues to demonstrate substantial growth.
4. GameStop and MicroStrategy Shares Jump on Crypto Speculations
Shares of GameStop and MicroStrategy have risen following a photo of GameStop CEO Ryan Cohen with Bitcoin advocate Michael Saylor. This has led to speculation that GameStop may be considering adopting cryptocurrencies, similar to MicroStrategy's significant Bitcoin holdings. GameStop's shares increased by 7%, while MicroStrategy's shares went up by 2%.
5. SEC's February 14 Deadline in Coinbase Appeal Case
The SEC faces a February 14 deadline to respond to Coinbase's appeal request amid multiple legal challenges, including a class action lawsuit. The agency's new crypto task force signals potential changes in regulatory approach, which could have significant implications for the cryptocurrency industry.
