| Bitcoin | $51,843 | 7 day: +8.5% | | Ethereum | $1,916 | 7 day: +6.9% | | All crypto | $1.59T | 7 day: +9.9% | | Bitcoin dominance | 61.5% | 7 day: -0.5% | Prices as of 11:40 a.m. EST
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 SEC Commissioner Hester Peirce SEC Commissioner Hester Peirce discussed bitcoin Exchange-Traded Products (ETPs) on U.S. exchanges. - On Feb. 11, 2021, CoindeskTV interviewed SEC Commissioner Hester Peirce, affectionately known as "Crypto Mom."
- The regulator said clearly, "We're ready for exchange-traded products." She believes that if the SEC does not allow more regulated options, people will look for alternatives.
- Peirce doubted that U.S. Treasury Secretary Janet Yellen intends to pursue banning bitcoin. (Yellen made negative comments regarding the use of crypto in terrorism financing last week.)
- The regulator said that the SEC does not intend to ban bitcoin outright. She accepted that the SEC has been slow but careful in providing regulatory clarity regarding crypto.
- Peirce did not comment when the host asked about her upcoming virtual hearing regarding the SEC's lawsuit against Ripple, scheduled for Feb. 22.
Click to tweet the following text (you can edit it before sending): SEC commissioner Hester Peirce speaks with @Coindesk regarding #bitcoin $btc and U.S. capital markets. #CryptoMom Coindesk 
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 Ripple's Brad Garlinghouse The SEC lawsuit against Ripple enters its discovery phase. Both parties informed a federal judge in the Southern District of New York that a settlement is unlikely. - A pre-trial settlement between the SEC and blockchain company Ripple is now off the table. Both parties jointly submitted a "discovery letter" to a District Judge of the Southern District of New York on Feb. 15.
- Bipartisan legal counsel concluded that "there is no prospect for a pre-trial settlement at this time."
- The SEC complained in its letter that Ripple and former CEO Chris Larsen received and ignored two legal memos warning them about the risks that XRP (XRP) was likely an investment contract, subject to securities laws.
- The blockchain payment company reiterated that XRP is a digital currency like bitcoin or Ethereum (ETH), and that the SEC is wrong to state that Ripple's distribution of XRP tokens constituted a securities offering.
- The next court session is scheduled for Feb. 22, which will be conducted virtually.
Click to tweet the following text (you can edit it before sending): Ripple $XRP and the SEC say settlement is unlikely. The lawsuit enters the discovery phase in U.S court. The next discovery hearing is scheduled for Feb. 22. Coindesk
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Bank of New York Mellon (NYSE:BK) will become a crypto custodian. The $38B bank will hold, transfer, and issue bitcoin receipts for its asset management and private banking clientele. More: - The oldest bank in the U.S., founded in 1784, signaled its entry into the digital assets market in a Wall Street Journal report.
- BNY Mellon's Chief of Asset Servicing and Head of Digital, Roman Regelman, said that digital assets are becoming mainstream.
- The bank assigned a team of executives, led by Michael Demissie, to oversee crypto custody integration and management.
- The bank custodied about $2.2T in assets under management (AUM) as of Dec. 31.
Click to tweet the following text (you can edit it before sending): WSJ reports Bank of New York Mellon @BNYMellon to enter $crypto #btc and custody on behalf of asset-management clients. Read more at https://inside.com/cryptocurrency @Inside Wall Street Journal
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Bloomberg reports that Counterpoint Global, a Morgan Stanley (NYSE:MS) investment arm with $150M in AUM, could buy bitcoin. - A Bloomberg report dated Feb. 13 indicates that one of Morgan Stanley's (NYSE:MS) subsidiaries is considering bitcoin among suitable assets for certain investors.
- Counterpoint Global (NASDAQ:GLCIX) would require approval from the parent company and U.S. regulators before adding the volatile digital asset to its portfolio.
- The company's portfolio comprises 19 funds under its supervision, out of which five delivered triple-digit gains in 2020.
- Counterpoint Global's other significant investments include Shopify (NYSE:SHOP), Amazon (NASDAQ:AMZN), and Zoom (NASDAQ:ZM).
Click to tweet the following text (you can edit it before sending): A @MorganStanley investment arm with $150M in AUM considers including #bitcoin $btc, according to @business Read more at https://inside.com/cryptocurrency @Inside Bloomberg
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Cryptocurrency exchange Coinbase has reached a valuation of $77B on NASDAQ Private Market. - The company has filed paperwork with the SEC and is pursuing an IPO.
- Coinbase is currently allowing institutional investors to trade some of its shares during NASDAQ Private Market auctions.
- Coinbase's shares were changing hands at $303 per share during its third-week auction, according to a report published yesterday. This values the company higher than Intercontinental Exchange (NYSE:ICE), owner of New York Stock Exchange.
- NASDAQ Private Market auctions allow employees and investors to trade their shares ahead of the IPO.
Click to tweet the following text (you can edit it before sending): Crypto exchange Coinbase trading at a $77B valuation on NASDAQ Private Market, surpassing @NYSE owner @ICE_Markets $ICE according to @CoinDesk Coindesk
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- Catherine Wood's New York-based asset management company, ARK Invest, disclosed the purchase of 2.14M additional shares of Barry Silbert's Grayscale Bitcoin Trust (OTCQX:GBTC).
- An unidentified attacker stole about $37M from a DeFi liquidity protocol, Alpha Homora, through a complex transaction exploit. According to a tweet dated Feb. 13, Alpha Finance's team already has a prime suspect who used CREAM Finance's Iron Bank services.
- Steve Vallas, CEO of Blockchain Australia, asked for more support from the federal government for Australian crypto companies.
- Former Chair of the U.S. Federal Deposit Insurance Corporation (FDIC), Sheila Bair, advised people not to buy bitcoin, calling it volatile and "at nosebleed levels."
- One of the largest dark web marketplaces, Joker's Stash, ceased operations. Its founder is rumored to be a bitcoin billionaire. Last month, Gemini Advisory announced the closure.
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 |  | Curated by Associated Press fanboy, eye-strained news terminal watcher, and bitcoin follower since $1, Aaron Wise. Temporarily listening to news squawk boxes in Florida while awaiting the construction of cryptopia. |  | | Editor | Charlotte Hayes-Clemens is an editor and writer based in Vancouver. She has dabbled in both the fiction and non-fiction world, having worked at HarperCollins Publishers and more recently as a writing coach for new and self-published authors. Proper semi-colon usage is her hill to die on. | |
