Schlagwort: crypto business

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SEC drops investigation into Robinhood Crypto

  • Robinhood says the SEC has ended the regulator’s probe into Robinhood Crypto.
  • SEC issued a Wells Notice to Robinhood Crypto in May 2024.
  • SEC’s closing of the Robinhood Crypto investigation comes days after the agency closed a similar probe against Opensea.

The US Securities and Exchange Commission has dropped its investigation into Robinhood’s digital assets arm.

Robinhood announced via blog post on Monday, Feb. 24 that the SEC has closed its enforcement action probe against the company.

“We applaud the staff’s decision to close this investigation with no action,” said Dan Gallagher, chief legal officer of Robinhood Markets.

The SEC’s decision to end its investigation into Robinhood comes just days after another platform, Opensea, said the regulator was ending its probe.

Both Robinhood and Opensea received ‘Wells Notices’ from the SEC in 2024.

Last week, crypto exchange Coinbase also announced the regulator had agreed to dismiss the lawsuit it had filed against the US-based company in 2023.

SEC closes Robinhood probe

In the blog post on Monday, Robinhood said it received communication from the SEC’s Enforcement Division on Friday, Feb. 21.

The letter detailed the agency’s decision to end the investigation into Robinhood Crypto, with no further action. SEC’s Wells Notice alleged potential securities laws violations by the trading platform.

However, Robinhood maintained it had not violated any securities laws and did not offer securities to users.

“This investigation never should have been opened,” Gallagher added. “Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities. As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC.”

The SEChas taken a more pro-crypto innovation stance since the exit of former chair Gary Gensler. President Donald Trump’s appointment of pro-crypto individuals into positions at the agency has helped this shift, including the establishment of a crypto task force by acting chair Mark Uyeda.

 

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The SEC mulls over XRP ETF applications as interest rises

  • The SEC has received six XRP ETF applications over the last several weeks as interest in traditional crypto investment vehicles continues rising
  • Coinshares sent a proposal for XRP and Litecoin ETFs while Grayscale sent one for XRP amid several proposals for Solana ETFs

The SEC has received no less than six applications for XRP exchange-traded funds (ETFs) from major issuers like Canary Capital, Grayscale, Bitwise, WisdomTree, 21Shares, and Coinshares.

The latest application, Grayscale, began the 21-day comment period on Friday where members of the public can submit feedback on the proposed ETF.

While this happens, five Solana ETF applications from 21Shares, Bitwise, Grayscale, VanEck, and Canary await a decision.

The rise of interest in ETFs

The recent swarm of ETF applications is emblematic of a shift in the regulatory landscape to a more friendly environment. This shift began at the twilight of former Securities and Exchange Commission (SEC) chair Gary Gensler’s tenure with the approval of the Bitcoin and Ethereum ETFs in 2024.

Now that Mark Uyeda, a pro-crypto official, is in office, combined with the most pro-crypto Congress the US has ever seen, the regulatory landscape is expected to be friendlier. Furthermore, Ripple Labs’ win against Gensler’s SEC has also placed it in a favourable growth position.

President Donald Trump signed an executive order to create a sovereign wealth fund that will include cryptocurrencies. While Bitcoin is expected to be on the list, recent developments may place XRP in the fund as well.

In January, Trump met with Brad Garlinghouse, CEO of Ripple, who is pushing for the sovereign wealth fund to contain more than one cryptocurrency, ideally XRP as well.

An XRP ETF approval could cement the crypto as a candidate for the reserve.

Ripple is the third largest crypto by market cap and trades at $2.48 as of publishing.

Litecoin ETF approval

Despite this, Bloomberg ETF analysts James Seyffart and Eric Balchunas believe that a Litecoin ETF has a 90% chance of being approved in 2025.

In a post on X, the pair mainly focused on Dogecoin, Litecoin, Solana, and XRP. In their view, Dogecoin ETF has a 75% chance of approval, a Solana ETF has a 70% chance, and an XRP ETF has a 65% approval rating.

Seyffart added that it’s unlikely the market will see an XRP ETF until the whole Ripple/XRP/SEC case is settled, finished, or has some sort of outcome.

“The SEC needs to untangle that mess,” he said.

The post The SEC mulls over XRP ETF applications as interest rises appeared first on CoinJournal.

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Coinbase scores major win as SEC set to drop lawsuit

  • Coinbase says the SEC has agreed to dismiss its lawsuit against the US-based crypto exchange.
  • The SEC sued Coinbase in 2023 but with Gary Gensler’s exit, the regulator is eyeing better regulatory approach.

US-based crypto exchange Coinbase is set for a landmark development after the Securities and Exchange Commission reportedly agreed to dismiss its own lawsuit against the exchange.

Coinbase announced the huge news in a blog post on Friday, Feb. 21. Coinbase CEO Brian Armstrong also shared the development in an interview with CNBC’s Squawk Box.

“SEC staff has agreed in principle to dismiss its unlawful enforcement case against Coinbase, subject to Commissioner approval – righting a major wrong,” Coinbase chief legal officer Paul Grewal wrote.

Coinbase CEO Brian Armstrong also shared the news via X.

SEC vs. Coinbase ending

According to the exchange, the regulator’s decision to withdraw the case follows a settlement that does not involve any financial penalty against Coinbase. The next move is for the SEC commissioners to ratify the agreement and end a major legal hurdle that set the US crypto market back.

“While dismissal will be a major win for the rule of law – and a clear vindication of our position – most of all it will be a win for the entire industry and the 52 million Americans who have owned a digital asset,” Grewal added.

The SEC filed its lawsuit against Coinbase in 2023, accusing the exchange of operating an unregistered securities exchange. The lawsuit also included allegations of offering unregistered securities.

Coinbase contested the charges and sought a dismissal, with industry players criticizing then SEC Chair Gary Gensler of overreach amid regulation by enforcement approach.Notably, the SEC had also sued Binance, the world’s largest crypto exchange by trading volume. Other exchanges to come into the “rogue” agency’s cross-hairs is Kraken.

However, things at the securities watchdog have taken a crypto-friendly turn since Donald Trump’s election and the exit of Gensler and other Commissioners.

Acting chair Mark Uyeda has formed a crypto task force and renamed an enforcement unit amid the quest to balance compliance and the need to protect investors.

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Mawari and Nankai Electric Railway partner for the Digital Entertainment City Namba project

  • The “Digital Entertainment City Namba” will be the world’s first smart city integrating AI, XR and DePIN.
  • Mawari will deploy edge computing and rendering devices across Nankai’s properties for decentralized streaming.
  • Nankai Electric Railway rail network spans over 100 stations across multiple lines in Japan.

In a groundbreaking collaboration, Mawari, a leader in spatial computing and decentralized physical infrastructure networks (DePIN), has partnered with Nankai Electric Railway Co., Ltd., Meta Osaka Co., Ltd., and e-stadium Co., Ltd. to create the “Digital Entertainment City Namba.”

This ambitious urban development project, set to unfold in Osaka, Japan, promises to be the world’s first fully integrated ecosystem combining artificial intelligence (AI), extended reality (XR), and DePIN technologies at a city-wide scale.

The partnership brings together complementary strengths. Meta Osaka contributes strategic innovation and localized expertise, ensuring the project aligns with the region’s unique cultural and economic fabric.

On the other hand, e-stadium, a Nankai Group company, leverages its focus on e-sports and community engagement to address social challenges and foster a thriving digital culture. Together, these organizations are laying the groundwork for a smart city that integrates advanced technology with everyday life.

Mawari’s role is pivotal, deploying edge computing and rendering devices across Nankai’s properties to deliver decentralized streaming infrastructure. This setup brings computation closer to users, minimizing delays and enabling real-time interactions with 3D AI agents that possess both “body and soul,” as described by the company. The result is a scalable, efficient system capable of supporting a wide range of applications, from entertainment to practical services.

For Mawari, the project represents a milestone in its mission to democratize AI-driven immersive experiences. According to the CEO Luis Oscar Ramirez, “Uniting AI, XR, and DePIN in ‘Digital Entertainment City Namba’ is a landmark moment for the entire industry, demonstrating a clear path to mass adoption with tangible social impact.”

A visionary fusion of technology and urban life

At the heart of the “Digital Entertainment City Namba” project is Mawari’s pioneering technology, which powers real-time 3D streaming of lifelike AI-driven avatars. These avatars, rendered with minimal latency, offer a new level of immersion and interactivity, capable of performing tasks such as guiding tourists, assisting customers, and facilitating human-like communication across language barriers.

Notably, the project builds on Mawari’s extensive experience, having successfully executed over 50 XR projects worldwide since 2019.

By integrating AI, XR, and a decentralized network of edge computing devices, the Digital Entertainment City Namba will transform Nankai’s railway stations and properties into vibrant digital hubs that seamlessly merge virtual and physical experiences.

Founded in 1885, Nankai Electric Railway is one of Japan’s oldest private rail operators, with a network spanning over 100 stations across multiple lines, including connections to Kansai International Airport and the Koyasan World Heritage Site.

Traditionally a transportation powerhouse, Nankai is now embracing a bold vision to evolve its infrastructure beyond mere transit points. Under the leadership of President and COO Nobuyuki Okajima, the company has been working since 2023 to reimagine the Namba area as an “ENTAME-DIVER-CITY” — a dynamic hub of entertainment and co-creation.

This vision gained momentum with the opening of the e-Stadium Namba Main Branch, an e-sports facility, in August 2024 at Namba Parks, a commercial complex operated by Nankai. The addition of Tsutenkaku, a historic Osaka landmark, to the Nankai Group in December 2024 further expands the scope of this digital transformation.

Through the Digital Entertainment City initiative, Nankai aims to weave immersive experiences such as virtual idols, anime characters, and interactive storytelling into these physical spaces, creating a next-generation entertainment ecosystem.

Projected impact of the Digital Entertainment City Namba

The Digital Entertainment City Namba is poised to make a significant impact across multiple sectors.

For tourism, the project taps into Japan’s growing inbound travel market, which saw 23 million foreign visitors in 2023. Multilingual 3D guides and XR content will offer tourists intuitive navigation and immersive cultural experiences, boosting local businesses and elevating Osaka’s global appeal.

Beyond tourism, the initiative addresses Japan’s looming labour shortage, projected to reach 11 million workers by 2040, by creating flexible, remote work opportunities. AI-driven avatars will enable diverse groups, including caregivers, seniors, parents, and people with disabilities, to participate in industries like customer service and tourism through immersive interfaces.

This inclusive approach not only enhances accessibility but also aligns with Japan’s need for innovative workforce solutions.

The post Mawari and Nankai Electric Railway partner for the Digital Entertainment City Namba project appeared first on CoinJournal.

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Tether leads $10m round for cross-border payments firm Mansa

  • Tether has backed the $10 million round for cross-border payments firm Mansa.
  • Venture capital firm Polymorphic co-led the round, which saw investors raise $7 million to add to $3 million raised earlier.

Tether, issuer of the world’s largest stablecoin USDT, led the $10 million funding round of MANSA, a cross-border payments provider.

MANSA announced the close of the $10 million financing round on Thursday, Feb. 20, noting that the capital injection would be key to the fintech company’s plans to bolster cross-border payments by addressing liquidity challenges facing providers.

Venture capital firm Polymorphic Capital co-led the round, which also attracted the participation of top VC platforms Octerra Capital, Faculty Group and Trive Digital. Mansa had previously raised $3 million in a pre-seed round, with the $7 million secured from investors in the latest raise bringing the total to $10 million.

Per details in a blog post, the company plans to use these funds on its Latin America and Southeast Asia expansion effort. The funding will also go into fresh bespoke liquidity as well as ancillary solutions set to bring payments on-chain.

“By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions—making payments faster, cheaper, and more reliable worldwide,” Mouloukou Sanoh, chief executive officer & co-founder of MANSA, said.

Payments firm eyes global expansion

MANSA launched in August 2024 and has grown rapidly amid major partnerships in the payment space.

Its footprint includes integrations with payment providers in Africa, Asia, and South America.

The company’s growth saw it notch $11 million in on-chain transactions in January 2025, a figure that represents a 574% year-over-year increase. Growth comes amid increased stablecoin adoption. USDT is a major player in this effort.

“By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets. We are proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure.” Tether CEO Paolo Ardoino, added.

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