Hinman Docs Reveal In XRP Case To Congressional Hearing; Why This Week Is Crucial For Crypto?

XRP Lawsuit News: The digital asset market took a massive hit last week as the U.S. top financial watchdog, the Securities and Exchange Commission (SEC), sued two of the world’s biggest crypto exchanges. However, It is expected that the crypto market might witness even more volatility in this week due to scheduled mega events ahead.

Also Read: Binance To Face US DOJ’s Criminal Charges Or It’s Just A FUD: Ex-SEC Exec Hints

Hinman Docs To Unseal In XRP Lawsuit

The crypto community can anticipate a roller coaster ride in the market charts this week as much anticipated crucial documents in the XRP lawsuit will be released amid the recently filed legal dispute between U.S. SEC and Binance.

As per the schedule, the world’s largest crypto exchange, Binance and its U.S. arm need to respond to the U.S. SEC’s application for a temporary restraining order by Monday. The commission asked a federal court to issue a temporary restraining order to freeze Binance.US’s assets.

Tuesday will be marked as the biggest day for Ripple Labs and other defendants in the U.S SEC Lawsuit. The infamous speech was given by then SEC Director of Corporation Finance, Bill Hinman stated in his view, Ethereum (ETH) was not security. It is expected that the sealed documents will disclose what internal discussion led the executive to suggest the nature of Ethereum. Read More XRP lawsuit News Here…

CPI Data, FOMC Meeting Remains Main Focus

The US Core Consumer Price Index (CPI) will be the main focus this week followed by the crucial FOMC meeting. US CPI data will be announced on June 13, while the crucial FOMC meeting will be held from June 13-14. However, US Fed Chief Jerome Powell will give out market moving statement on June 14.

The market needs to brace itself as ECB is expected to raise interest rates by 25 basis points on June 15 amid inflation pressure. Reports suggest that due to persistent inflationary pressures, the central bank might halt the hike for the rest of the year.

Also Read: XRP Lawsuit Verdict Might Prove Crucial For Coinbase, Binance, Says Attorney