Coinbase News: Kentucky Drops Lawsuit Over Staking Services

In a recent development in the cryptocurrency world, Kentucky has officially dismissed its lawsuit against Coinbase, bringing an end to a legal battle regarding the exchange’s staking services.

Kentucky Drops Crypto Staking Lawsuit Against Coinbase

Kentucky has officially dismissed its lawsuit against Coinbase over the exchange’s staking services. The Kentucky Department of Financial Institutions filed a joint stipulation of dismissal on March 31, ending its case against Coinbase for offering unregistered securities through its staking program. This follows Vermont and South Carolina, who withdrew their lawsuits against Coinbase citing the U.S. Securities and Exchange Commission’s (SEC) decision to drop its federal case.

Bitcoin’s Major Sell-Off Might Be Ending: Will BTC Recover Now?

Bitcoin presented a buying opportunity, but the downtrend was not yet over. The sell-off might be at an end, as BTC token transfer volumes resembled their 2023 levels. Bitcoin [BTC] has shed nearly 5% since Friday, dragging the Fear and Greed Index lower. Short-term holders faced losses, while longer-term holders preferred to accumulate. This might not spark an immediate recovery, but a recovery could be brewing. The stablecoin ratio channel signaled a buying opportunity for BTC and altcoins. The increase in stablecoin supply indicates increased liquidity and tends to occur during bearish market phases. Markets are cyclical, and the market will swing bullishly — the question is when.