Popular cryptocurrency exchange Crypto.com filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in response to a Wells notice it received from the SEC, which Crypto.com argues is part of the agency’s overreach in regulating the crypto industry.

Crypto investment firm Canary Capital filed a registration statement with the SEC for a spot XRP exchange-traded fund (ETF), marking the firm’s first attempt at launching an ETF. This move comes shortly after Bitwise Asset Management took preliminary steps by incorporating its Bitwise XRP ETF trust in Delaware at the end of September.

A new HBO documentary, "Money Electric: The Bitcoin Mystery," explores the origins of the flagship cryptocurrency and suggests that Canadian software developer Peter Todd might be the mysterious Bitcoin creator Satoshi Nakamoto.

Top stories in the Crypto Roundup today:

• Crypto.com Sues SEC Over Agency’s ‘Overreach’
• Canary Capital Files Registration Statement with U.S. SEC for Spot XRP ETF
• HBO Documentary Suggests Bitcoin Creator Satoshi Nakamoto May Be Peter Todd
• SUI Open Interest on Centralized Exchanges Surges

Crypto.com Sues SEC Over Agency’s ‘Overreach’

Popular cryptocurrency exchange Crypto.com filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in response to a Wells notice it received from the SEC, which Crypto.com argues is part of the agency’s overreach in regulating the crypto industry.

Kris Marszalek, co-founder and CEO of Crypto.com, voiced his concerns on the microblogging platform platform X, stating the SEC’s “unauthorized overreach and unlawful rulemaking regarding crypto must stop.”

The exchange contends that the SEC has improperly classified nearly all crypto asset transactions as securities while excluding Bitcoin and Ether from this classification, while also arguing that the SEC’s actions are inconsistent and that similar transactions involving BTC and ETH are treated differently without justification.

The lawsuit further claims that the SEC imposed this rule without following the required notice and comment period under the Administrative Procedure Act, making its actions “arbitrary and capricious.”

Additionally, Crypto.com’s affiliate, Crypto.com | Derivatives North America (CDNA), has filed a petition with the Commodity Futures Trading Commission (CFTC) and the SEC seeking clarification on the regulatory oversight of specific cryptocurrency derivatives, requesting a joint interpretation on whether these products should fall under the jurisdiction of the CFTC, the SEC, or both.

Crypto.com also emphasized its commitment to compliance, highlighting that it holds over 40 state money transmitter licenses and is registered as a money services business with FinCEN.

Canary Capital Files for Spot XRP ETF

Crypto investment firm Canary Capital filed a registration statement with the SEC for a spot XRP exchange-traded fund (ETF), marking the firm’s first attempt at launching an ETF. This move comes shortly after Bitwise Asset Management took preliminary steps by incorporating its Bitwise XRP ETF trust in Delaware at the end of September.

Canary Capital, established in September by Steven McClurg, the former co-founder of Valkyrie Funds, noted that its filing was driven by growing investor demand and a potentially more favorable regulatory environment.

The filings, which didn’t include ticker or fee details, arrived after the successful launch of spot Bitcoin and spot Ether ETFs earlier this year, which have drawn significant investor interest. Bitcoin ETFs have amassed nearly $19 billion in assets, while Ether ETFs have seen roughly $550 million in outflows. Other companies, such as VanEck Asset Management and 21Shares AG, are also seeking approval for ETFs linked to Solana.

Stephane Ouellette, co-founder and CEO of FRNT Financial, commented that ETF providers are closely monitoring the regulatory landscape for any openings that may allow them to introduce new products.

These moves follow the launch of the Grayscale XRP Trust on September 12, which marked a return of the fund manager’s XRP offering after dissolving its previous XRP trust in 2021. Although the trust provides accredited investors direct exposure to XRP, it is not an ETF but could lay the groundwork for future XRP ETFs in the U.S.

HBO Documentary Suggests Bitcoin Creator Satoshi Nakamoto May Be Peter Todd

A new HBO documentary, "Money Electric: The Bitcoin Mystery," explores the origins of the flagship cryptocurrency and suggests that Canadian software developer Peter Todd might be the mysterious Bitcoin creator Satoshi Nakamoto.

Released on Tuesday, October 8, the 100-minute film features interviews with several prominent early Bitcoin figures, including Adam Back, Roger Ver, Samson Mow, and Todd.

The documentary’s creator, Cullen Hoback, relies on circumstantial evidence to propose that Todd could be Nakamoto, including posts from early Bitcoin forums where Todd was active. However, Todd dismissed the idea during the film, calling it “ludicrous” and jokingly claiming, “I am Satoshi Nakamoto.”

The identity of Satoshi Nakamoto has been one of the biggest mysteries in the cryptocurrency world since Bitcoin's inception in 2009. Over the years, various people have been suggested as Nakamoto, including Dorian Nakamoto, who was incorrectly identified by Newsweek in 2014, and Nick Szabo, a computer scientist often linked to Bitcoin’s creation.

The Bitcoin wallets associated with Nakamoto hold approximately 1 million BTC worth over $62 billion, with any movement from these wallets potentially drastically affecting Bitcoin’s value. Furthermore, identifying Nakamoto could influence how governments and corporations approach Bitcoin’s adoption, given the creator's significance in the cryptocurrency’s development.

While Nakamoto has not been heard from since 2011, their legacy and potential influence continue to loom large over the Bitcoin community.

SUI Open Interest on Centralized Exchanges Surges

Sui (SUI) has experienced a notable rise in open interest across major centralized cryptocurrency exchanges, indicating increased investor activity. As of October 7, data shows exchanges including Binance, Bybit, Kraken, and OKX reported over $508 million in open interest for SUI.

The surge in open interest comes as Circle’s USDC stablecoin is set to be launched on the Sui network, boosting market confidence and participation. Since the beginning of the year, SUI’s open interest surged 495%, outpacing that of major assets like BNB and DOGE.

State of the Crypto by Top Tier Exchange Volume

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