Regulation
Ripple Whales Move 430M XRP As Brad Garlinghouse Confirms Crypto Policy Shift
Large XRP transactions have sparked discussions in the crypto community as Ripple whales moved 430 million XRP within hours. Meanwhile, Ripple CEO Brad Garlinghouse has expressed optimism about a shift in U.S. crypto regulations, hinting at a new crypto policy approach.
Ripple Whales Transfer Over 430 Million XRP
Blockchain tracking service Whale Alert has reported a series of large XRP transfers, totaling over 430 million XRP. The transactions included 300 million XRP transferred from Ripple to an unknown wallet, followed by another 90 million XRP moved between unidentified wallets. Additionally, 40.8 million XRP were transferred from Coincheck to an unknown address.
These movements have drawn attention, as whale transactions often indicate strategic shifts by major holders.
While the purpose of these Ripple whale transfers remains unclear, large transactions can impact market liquidity and investor sentiment. The timing of these transfers coincides with renewed discussions on regulatory developments surrounding Ripple and XRP.
Brad Garlinghouse Optimistic on Crypto Policy Changes
Ripple CEO Brad Garlinghouse shared his perspective on recent legislative efforts in Washington, D.C. He noted that there is a growing bipartisan push for clearer regulatory frameworks for cryptocurrencies.
“There is finally an incredible opportunity to advance meaningful bipartisan legislation,” Garlinghouse stated, highlighting meetings with lawmakers including Senator Tim Scott and Representatives Ritchie Torres, William Timmons, and French Hill.
Brad Garlinghouse has previously criticized the lack of regulatory clarity in the U.S., arguing that it has driven crypto innovation overseas. His latest remarks suggest that policymakers may be shifting towards a more constructive stance on digital assets. This follows the Securities and Exchange Commission’s (SEC) acknowledgment of a 19b-4 filing related to a potential XRP exchange-traded fund (ETF).
Ripple SEC Lawsuit Settlement Speculation Grows
A U.S. federal judge has paused the SEC’s lawsuit against Binance for 60 days after both parties requested time to assess regulatory developments. This move has fueled speculation about the possibility of a Ripple-SEC settlement, as per ETF store president Nate Geraci as crypto regulatory agencies appear to be re-evaluating their approach to crypto-related lawsuits.
The pause in the Binance case comes as the SEC faces increasing pressure over its stance on digital assets.
The decision to acknowledge XRP-related ETF filings further suggests a potential shift in how the agency handles crypto-related regulations. Market analysts believe this could lead to a resolution in the ongoing legal battle between Ripple and the SEC.
XRP Price Targets $8 Amid Market Optimism
Amid Ripple whale moves, XRP’s price has remained relatively stable despite the large transactions, with traders closely watching developments.
Analysts suggest that if regulatory clarity improves and an XRP ETF is approved, the asset could enter a new price discovery phase.
Some market watchers predict a potential XRP price rally to $8, which would mark a new all-time high for XRP. Community sentiment remains optimistic, with many XRP holders expressing confidence in the cryptocurrency’s long-term potential.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto Czar David Sacks has confirmed that some big announcements are coming in the US crypto policy ahead. President Donald Trump signed an executive order last month asking Sacks and his team to review the possibility of Bitcoin reserve. Since then, the inter-agency Working Group has become active in working on different regulatory requirements with the US SEC and CFTC, coordinating joint efforts.
US Crypto Policy Under Coordinated Efforts, Says David Sacks
With crypto regulations taking center stage in Wahington, concerns about potential overlap among key policymaking groups are surfacing. The SEC’s crypto task force, the CFTC’s pilot program, the Presidential Working Group, and Congress’s Bicameral Working Group for Digital Assets, etc have all been in action. However, this has led to a question of whether too many cooks will spoil the show for crypto regulations.
But crypto policy experts said that there’s nothing much to worry about adding that these groups are actively coordinating efforts and working collaboratively. For e.g crypto czar David Sacks associate Bo Hines met with Hester Peirce, head of the SEC’s crypto task force, and Acting CFTC Chair Caroline Pham.
At the same time, industry representatives from the Blockchain Association and Digital Chamber of Commerce have also engaged with the task force on topics ranging from ETF staking to stablecoin regulations. Some of these representatives will also participate in a CFTC-hosted CEO forum while addressing the issue of using tokenized assets and stablecoins as collateral in the futures market. David Sacks confirmed this development stating:
“The inter-agency Working Group on Digital Assets is working well together to implement the President’s agenda. Bo Hines is doing a fantastic job as Executive Director keeping everyone coordinated. Some important announcements are coming soon”.
Additionally, as former agency staffers move into Congressional roles, they are forming closer ties. Representatives French Hill and Bryan Steil affirmed that the House’s Bicameral Working Group for Digital Assets is aligned with Senate counterparts and the Presidential Working Group in drafting legislation.
Key Decision Undertaken By Trump Administration
Following Donald Trump taking charge of the White House, his administration has been quick in introducing pro-crypto measures and reversing some of the wrongs of the previous administration.
Soon after Gary Gensler’s exit following the Trump oath-taking, the U.S. Securities and Exchange Commission (SEC) decided to repeal the controversial SAB 121 accounting rule which prevented banks from working with digital asset firms.
The Federal Deposit Insurance Corporation (FDIC) plans to update its guidelines, enabling U.S. banks to handle crypto assets and provide tokenized deposits without requiring prior regulatory approval.
In the latest development, a U.S. judge has paused the SEC’s lawsuit against Binance for 60 days to allow a new task force to review crypto regulations. A status report is expected by April 14.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Coinbase Vs SEC Lawsuit: The U.S. Securities and Exchange Commission (SEC) has requested a 30-day extension in its legal case against Coinbase. The request was made in a court filing on Friday, where the SEC mentioned that its newly formed crypto task force could help resolve the case.
This move has raised speculation about a possible settlement between the regulator and the cryptocurrency exchange.
US SEC Seeks 30-Day Delay in Coinbase Lawsuit
The US SEC’s request for an extension in the Coinbase Vs SEC Lawsuit was filed in a federal appeals court, where Coinbase had earlier appealed a district court ruling.
Judge Katherine Polk Failla previously ruled that the SEC had a valid case against Coinbase for allegedly offering unregistered securities. Coinbase then sought the appeals court’s opinion on how securities laws apply to digital assets.
The SEC stated that the crypto task force, led by Acting Chair Mark Uyeda and Commissioner Hester Peirce, could influence the case’s outcome.
“The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources,” the SEC said in its filing.
The commission asked for additional time to prepare its response to Coinbase’s appeal.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The U.S. Securities and Exchange Commission (SEC) has officially acknowledged an application for an XRP exchange-traded fund (ETF) filed by 21Shares. This marks another step in the growing interest in XRP-based investment products.
With this development, speculation around XRP’s potential price surge has intensified. Some analysts believe an approved ETF could drive the token’s price to new highs, with projections reaching as much as $59 per XRP.
US SEC Reviews Another XRP ETF Application
The SEC’s acknowledgment of 21Shares’ filing adds to the list of pending XRP ETF applications. The firm submitted its application in early November, joining other asset managers seeking regulatory approval for an ETF tracking the performance of XRP.
On Thursday, the SEC also acknowledged an XRP ETF filing by Grayscale. ETF analyst Nate Geraci commented on the move, calling it an “enormous message” for the crypto investment market. Apart from Grayscale and 21Shares, other firms such as WisdomTree and Bitwise have also applied for spot XRP ETFs.
Earlier this month, Cboe BZX Exchange submitted regulatory filings to list shares of these products. Market analysts are closely watching the SEC’s next steps, as approvals of crypto-based ETFs have been increasing.
Ripple CEO Brad Garlinghouse had previously stated that an XRP ETF approval in the U.S. was “inevitable” despite ongoing legal challenges.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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