SEC Asks Court to Dismiss Kraken's Defenses in Unlawful Activity Lawsuit

Kraken, a crypto exchange, is facing a lawsuit brought against them by the SEC in November 2023. The SEC has asked for the dismissal of three of Kraken's defenses, which they deemed "legally unsupportable." Despite this, the crypto market cap has reached $2.5 trillion following Donald Trump's victory, with Bitcoin hitting a record high. Coinbase's Paul Grewal shares his regulatory outlook for crypto under a new administration, while DOGE surges on U.S. Election Day and Bitcoin ETFs shed $541 million. Additionally, Mt. Gox moves $2.2 billion worth of BTC.