U.S. Court Rejects SEC and Ripple’s Joint Motion
U.S. District Judge Analisa Torres of the Southern District of New York rejected the “decisive ruling” motion filed by the SEC and Ripple. The SEC had previously claimed that Ripple violated securities laws and sought a permanent ban and large fines. The court rejected this motion, and the lawsuit will continue.
Senate Banking Committee Chairman: Crypto Market Structure Act to Be Completed by Settembre 30
U.S. Senate Banking Committee Chairman Tim Scott announced that a comprehensive bill regulating the crypto market will be completed by Settembre 30. While this date falls after President Trump’s target of Agosto, it will still be before Senator Lummis’ year-end estimate.
Ripple CTO: XRP Ledger to Become More Programmable, Multiple Companies to Be Acquired
Ripple CTO David Schwartz said that technical upgrades are planned to increase the “programmability” of the XRP Ledger blockchain and that a credit protocol will be developed. The company is also pursuing multiple acquisitions in the early and late stages. The process began in Aprile with the $1.25 billion acquisition of Hidden Road and continued with the acquisitions of Metaco and Standard Custody.
Bakkt Files $1 Billion Fund Offering with SEC
Bakkt Holdings has filed an application with the SEC for approval of a $1 billion shelf offering. The company plans to use the funds raised for working capital and potentially for the acquisition of Bitcoin and other digital assets.
Butan’s Bitcoin Reserves Reach $1.3 Billion, Accounting for 40% of GDP
Bhutan holds $1.3 billion in Bitcoin reserves, accounting for 40% of its GDP. The country, which began mining using hydroelectric power in 2020, now holds the third-largest government-backed Bitcoin reserve in the world.
Galaxy Completes First External Funding Round at $175 Million
Galaxy has completed its first external investment funding round for investments at the intersection of traditional finance and blockchain, raising $175 million. The funds have already invested $50 million in projects such as Monad and Ethena.
Russian Central Bank: Digital Ruble to Be Available in Settembre 2026
The Central Bank of Russia has announced that the digital ruble, its central bank digital currency, will be available nationwide on Settembre 1, 2026. Regional banks will follow suit in 2027.
Brazilian Central Bank Opens Discussion on Accounting Standards for Virtual Assets
The Central Bank of Brazil has submitted new accounting regulations on how financial institutions should define and disclose virtual assets and utility tokens for public comment. Comments will be accepted until Agosto 24.
China Renaissance Capital Launches $100 Million Investment in Web3.0 and Crypto
Hong Kong-based China Renaissance Capital has approved a $100 million investment budget for the next two years to enter the Web3.0 and crypto asset space. The company aims to increase its investments in stablecoins, RWA, and the crypto ecosystem.
BTC Options Worth $15 Billion in Nominal Value Expire Today
Today, 15 billion dollars worth of BTC and 2.3 billion dollars worth of ETH option contracts are expiring on Deribit. The maximum pain point is calculated at 102,000 dollars for BTC and 2,200 dollars for ETH. This marks the largest option expiration day of 2025 to date.
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