Bloomberg: Ripple ruling boosts market sentiment, cryptocurrencies rise slightly again

BlockBeats news, August 8, Bloomberg reported that major cryptocurrencies rose slightly on Thursday after Ripple Labs Inc. was ordered to pay a $125 million fine - a result that the company viewed as a victory over the U.S. Securities and Exchange Commission (SEC).

Bitcoin rose as much as 4.5% to over $57,600, while Ethereum, the second-largest market capitalization token, rose nearly 5% at one point. Despite this, both tokens are still well below their levels a week ago.

At the same time, the sell-off in global stock markets intensified, reflecting concerns about the economic outlook and tensions in the Middle East, as well as fears that heavy bets on artificial intelligence may fail to deliver expected returns.