Bitcoin reaches its highest price in 13 months following a major win for the crypto industry. It rose to $31,818 before edging down to trade around $30,935 on Friday. The currency had its best session since March, 2023.
The United States judge ruled about legal sale of crypto on public exchanges. It also increased 73% of the sale of crypto and most of the gains are witnessed on Friday after the ruling of US Judge.
The Chief Investment officer of Crypto Asset said, “The regulatory environment is changing and by what we have seen in the last 24 hours, it could be for the better”.
First win for Cryptocurrency Company
The case was marked as the first win for Cryptocurrency company through a proper lawsuit brought by the US securities and Exchange commission.
Overall, the decision was specific to the individual case, it unleashed a wave of optimism among crypto investors that more cryptocurrencies may also not be deemed securities.
The largest Cryptocurrencies exchange of the world has laid off more than 1,000 people in recent weeks. The lay-offs are ongoing and could result in the exchange losing more than a third of its staff.