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Ripple CEO hints at potential XRP ETFs following Ethereum ETF approvals by SEC. Brad Garlinghouse’s endorsement aligns with his optimistic outlook for XRP in 2024. Regulatory challenges and Ripple’s SEC lawsuit impact the timing of potential XRP ETFs. Ripple CEO Brad Garlinghouse has indirectly hinted that XRP could be the next cryptocurrency to see the launch of exchange-traded funds (ETFs). This follows the recent approval of eight spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC). Spot XRP ETF prospects post Ethereum ETFs approval Garlinghouse’s subtle nod to the possibility of XRP ETFs came via his reaction on X (formerly Twitter) to a comment on his post celebrating the US SEC’s approval of all Ethereum ETF applications. Among the approved ether ETF applications were those from prominent financial entities such as BlackRock, Grayscale, VanEck, and Fidelity. Describing the week’s events as “mo...

Standard Chartered Bank anticipates a substantial influx of $50 to $100 billion into Bitcoin after approving spot ETFs, with industry experts speculating a decision by this week. Standard Chartered Bank recently made a noteworthy prediction regarding Bitcoin, foreseeing a substantial influx of $50 to $100 billion in spot ETF inflows upon approval of the investment product, expected in 2024. The international banking giant’s forecast is based on the anticipation surrounding more than a dozen spot Bitcoin ETF applications currently under consideration by the U.S. Securities and Exchange Commission (SEC). You might also like: Analyst: Bitcoin to see significant surge on ETF approval JUST IN: Standard Charter Bank says #Bitcoin could reach $200,000 by end of 2025 if Spot ETFs are approved. — Watcher.Guru (@WatcherGuru) January 8, 2024 Industry experts are heightening their expectations for the imminent approval , with many speculating a decision by Wednesday. S...

This week, Orbit Bridge suffered an $82 million exploit, while Bitcoin ( BTC ) slump ed upon escalating FUD following a retest of $45,000. Meanwhile, the approval window of a spot BTC ETF draws closer. Orbit loses $82M in hack On Dec. 31, 2023, a crypto community figure called the public’s attention to a possible exploit of the bridge protocol native to the Orbit blockchain network, with multiple assets drained from the bridge’s contract. Shortly after this initial alarm, the Orbit chain team confirmed reports that the bridge had suffered an exploit. Data confirms that the protocol lost a whopping $81.5 million in several cryptocurrencies due to the hack. In its disclosure, the Orbit team emphasized that they were assessing the cause of the hack as well as engaging with law enforcement on the matter. Reports suggested that the mode of operation was similar to the trend observed with North Korean hackers. CoinsPaid hacked, North Korea takes the spotlight A few days after...

In a Nov. 24 announcement, the Hong Kong-based securities firm Victory Securities has shared the news that it has secured official approval from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading and consulting services to retail investors.  According to the firm’s executive director, Chen Peiquan, this makes it the first licensed corporation in Hong Kong to be given permission to offer such services to retail investors. Peiquan says these developments highlight growing interest in virtual assets, noting in the announcement that “the amount of virtual asset transactions and the number of new customers in the third quarter of this year more than tripled from the previous quarter.” You might also like: Crypto VC firm CoinFund enters Hong Kong as capital moves to Asia As part of the announcement, the company expressed its commitment to providing investment advice on virtual assets, publishing relevant research reports, and focusing on i...

As the cryptocurrency industry awaits a massive step toward the mainstream in the form of the United States Securities and Exchange Commission (SEC) approving a spot Bitcoin (BTC) exchange-traded fund (ETF), data shows that it could unlock over $70 billion in potential new capital influx .  Specifically, the recent analysis by Glassnode has shown that the potential infusion of capital from different sources into this new product in the US’s $7 trillion ETF products market could total around $70.5 billion, according to its report published on November 20. Indeed, the analysts at the cryptocurrency onchain and financial metrics platform said that these capital inflows into a spot Bitcoin ETF could stem from two key sources – stock and bond markets and the gold market – possibly receiving approximately $60.6 billion from the former and about $9.9 billion from the latter. Furthermore, as Glassnode’s B2B contributor Marcin Miłosierny explained, “the impa...

XREX, a crypto exchange in Asia focusing on cross-border payment s, has secured in-principle approval for a Major Payment Institution (MPI) license in Singapore. On Nov. 17, XREX announced on X (formerly Twitter) that it had received initial approval from the Monetary Authority of Singapore for a license that would eventually allow the firm to offer digital payment token services and products in the city-state. XREX has received the in-principle approval for the Major Payment Institution license in #Singapore, issued by the Monetary Authority of Singapore. This means that XREX Singapore can operate the following services: (1/3) pic.twitter.com/VT0pJUvpxZ — XREX Inc. (@xrexinc) November 17, 2023 Once fully acquired, the license will enable the company to expand BitCheck, a payment tool that facilitates transactions with fiat currencies, stablecoins, and other cryptocurrencies. “Hard-fought, the approval from the MAS has taken years to come to fruition, and rightly s...

In a Nov. 9 court filing, Genesis, the cryptocurrency trading lender heavily impacted by the collapse of Three Arrows Capital (3AC) and FTX last year, is now seeking out court approval for a settlement agreement. The agreement is said to give 3AC an allowed general unsecured claim of $33 million against Genesis instead of the $1 billion claim. Another step Genesis states that 3AC’s $1 billion claims were the largest in Chapter 11 cases associated with the FTX exchange, stressing that 3AC Debtor was one of the biggest borrowers from 2020 to 2022 when it collapsed. Now, under the agreement, Genesis will have to waive all its assertions and rights to an undisclosed quantity of AVAX tokens from Avalanche and NEAR tokens from Near Protocol. In addition, the bankrupt entities will engage in a mutual release, absolving each other of any outstanding liabilities. You might also like: Singapore police tipped of to detain 3AC founder Su Zhu by liquidators The document also s...

The cryptocurrency custody firm, co-created by the crypto investment firm CoinShares, has recently received regulatory approval in the United Kingdom. In an Oct. 6 announcement, the company can now register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds regulations. Crypto custody services available Following this announcement, Komainu can now offer its crypto custody services, which encompasses institutional staking and collateral management, through its Komainu Connect platform. The platform, initially unveiled in Apr. 2023, removes the necessity of storing collateral with trading partners, replacing it with a secure custody solution that bolsters the safety and integrity of assets. Alongside the UK, Komainu has also since extended its custody services to institutional clients in Italy, following the inclusion of its European entity in the relevant registry, alongside expansion into Singapore. You might also like: Gl...