Schlagwort: crypto business

Veröffentlicht am

Ripple postpones IPO plans despite $11.3B valuation and SEC win

  • Ripple has raised $318.5 million in total, backed by Andreessen Horowitz and others.
  • Acquires Hidden Road for $1.25 billion to expand in digital finance.
  • Launch of RLUSD stablecoin positions Ripple for broader market role.

Ripple has confirmed it will not pursue an initial public offering in 2025, marking a notable shift from years of market speculation.

Despite resolving a high-profile legal dispute with the US Securities and Exchange Commission, the company behind XRP says it has no intention of going public.

Instead, Ripple is focusing on alternative growth strategies, including major acquisitions, as it leans into becoming a global player in both traditional and digital finance.

The announcement has surprised analysts and long-time investors, who had viewed an IPO as a logical next step following Ripple’s legal clarity and strong financial position.

Ripple holds back IPO plans despite financial stability

Ripple’s decision to delay its IPO comes at a time when the company is arguably better positioned than ever.

President Monica Long told CNBC that Ripple holds billions of dollars in reserves and does not require external capital to fund operations or raise its profile.

Typically, IPOs are pursued to secure funding or increase visibility—but Ripple claims neither goal is currently necessary.

The company has previously entertained the possibility of going public, especially after gaining partial legal clarity from its battle with the SEC.

CEO Brad Garlinghouse stated as recently as 2023 that an IPO was not off the table, but has since confirmed that the listing is not a near-term priority.

Ripple’s share buyback in early 2024 valued the company at $11.3 billion, down from a $15 billion peak in 2022, indicating a cooling of previous investor hype.

Share buybacks and funding reshape Ripple’s capital base

In January 2024, Ripple repurchased shares worth $285 million at a reduced valuation, taking total funding to $318.5 million to date.

While that figure may appear modest compared to public tech giants, Ripple’s list of backers remains notable.

Investors include Andreessen Horowitz, Founders Fund, and Google Ventures—an indication that venture capital support for Ripple remains strong even in the absence of a public listing.

The buyback also offered early shareholders a partial exit, hinting that Ripple may be realigning its investor base in preparation for a longer-term strategy that does not hinge on an IPO.

Strategic focus turns to acquisitions and stablecoins

Rather than entering public markets, Ripple is doubling down on strategic acquisitions to fuel growth. The company recently acquired Hidden Road for $1.25 billion.

Hidden Road is a digital asset prime brokerage that processes over $3 trillion in annual transactions. Ripple expects the deal to significantly bolster its footprint across the global financial ecosystem.

This acquisition aligns with Ripple’s efforts to enter the stablecoin market.

The firm is preparing to launch RLUSD, a dollar-backed token that could compete with existing stablecoins like USDC and Tether.

By merging traditional finance infrastructure with crypto-native tools, Ripple is targeting a broader role in cross-border payments and liquidity solutions.

Ripple’s shift raises questions about crypto IPO trends

Ripple’s change in direction may also reflect broader market conditions.

The IPO market has remained tepid since 2022, with tech firms increasingly cautious about going public amid macroeconomic volatility and regulatory headwinds.

Ripple’s hesitation could be a sign that crypto firms are reassessing the utility and risks of public listings.

Despite no immediate IPO plans, Ripple remains a dominant player in the digital asset space.

Its legal clarity in the US, expansive partnerships abroad, and renewed focus on tokenised finance suggest that the company is betting on long-term infrastructure over short-term market attention.

 

 

 

The post Ripple postpones IPO plans despite $11.3B valuation and SEC win appeared first on CoinJournal.

Veröffentlicht am

SUI token jumps 26% on Pokémon-Sui blockchain buzz and rising NFT hype

  • Policy mentions Parasol, owned by Sui’s Mysten Labs.
  • SUI token up over 26%, breaks $3.58 resistance.
  • Market cap now $11.66 billion, driven by whale buying.

The Pokémon franchise may be edging closer to the Web3 world, sparking a wave of investor activity around the Sui blockchain and its native token, SUI.

On 23 April, a minor update to Pokémon HOME’s privacy policy drew sharp attention from the crypto community.

It mentioned that Parasol Technologies, a developer now owned by Mysten Labs—the company behind the Sui blockchain—could receive user data in select regions.

This prompted speculation that The Pokémon Company could be preparing for a deeper integration with blockchain-based technologies.

While there’s been no official confirmation from Nintendo or The Pokémon Company, the update coincided with a separate Sui Foundation announcement.

The foundation stated that Parasol would be launching blockchain-powered trading card games on the Sui network.

An early version of the blog post even included a reference to Pokémon NFTs, which was quickly deleted—adding further fuel to the speculation that a collaboration might be underway.

Sui Foundation, Parasol, and the NFT angle

The newly intensified interest in Sui isn’t only about speculative data mentions.

Parasol, the blockchain gaming studio involved, was acquired by Mysten Labs in 2023.

Its presence in the Pokémon HOME policy suggests a potential partnership that could bring recognisable intellectual properties like Pokémon into the world of NFTs and digital collectibles.

Shortly after the policy update, a crypto influencer known as Shotgun flagged the change on X (formerly Twitter), interpreting the new medals introduced in Pokémon HOME as tradable digital items.

Although no code has confirmed this assumption, the idea that Pokémon’s digital assets could eventually become NFTs or tokenised cards has resonated strongly in both the gaming and crypto communities.

The Sui Foundation’s quick removal of Pokémon-related references from its blog post has only deepened intrigue.

While this may indicate premature disclosure, it also gives weight to the idea that negotiations or development work might already be in progress, albeit behind the scenes.

Market reacts with SUI price breakout

The timing of these developments coincided with a strong upward movement in the SUI token’s market price. SUI rose over 26% in 24 hours, climbing above $3.5 for the first time since its launch.

Source: CoinMarketCap

Trading volumes surged past $128 million, and whale accumulation showed a marked increase. Analysts have pointed to $3.80–$4.00 as the next short-term target, provided market sentiment remains positive.

Crypto analyst Ted Pillows noted that the SUI price had broken through key resistance zones, with the momentum boosted by broader investor excitement over a potential Pokémon integration.

The token now ranks 13th by market capitalisation at $11.66 billion, with SUI accounting for over 90% of the total Sui ecosystem valuation of $15.79 billion.

Web3 gaming narrative gains traction

The convergence of gaming and blockchain technology has been a rising theme over the past two years, but the potential involvement of a franchise as globally significant as Pokémon would mark a turning point.

The Sui blockchain, known for its high throughput and object-based data model, is positioning itself as a preferred platform for gaming dApps.

Even though speculation around Pokémon NFTs remains unverified, the strategic alignment of updates, corporate acquisitions, and rapidly deleted blog references point towards meaningful developments.

For now, the market has clearly taken notice—reflected not just in price movement but also in renewed interest across social media and trading platforms.

Whether or not Pokémon makes the full leap into Web3 through Sui, the latest chain of events has already proven the ecosystem’s influence on market sentiment and the growing appetite for tokenised digital assets among retail and institutional investors alike.

The post SUI token jumps 26% on Pokémon-Sui blockchain buzz and rising NFT hype appeared first on CoinJournal.

Veröffentlicht am

Crypto news today: Bitcoin holds firm above $93K, fueled by record ETF inflows and bullish forecast

  • Bitcoin holds steady above $93,000, showing resilience after earlier correction.
  • US Spot Bitcoin ETFs saw massive $1.2B+ weekly inflow (“Pac-Man mode”), signaling strong institutional demand.
  • US Federal Reserve joined OCC/FDIC in withdrawing previous restrictive crypto guidance for banks.

Bitcoin continues to demonstrate significant resilience, maintaining levels above the crucial $93,000 mark after weathering a notable correction earlier this year.

This stability is underpinned by a confluence of factors, including surging institutional interest evidenced by record ETF inflows, increasingly bullish long-term price predictions, and a potentially easing regulatory landscape.

A primary driver of the recent strength has been the remarkable influx of capital into US-listed spot Bitcoin exchange-traded funds (ETFs).

These investment vehicles experienced substantial demand this week, attracting nearly $1.3 billion in net inflows, according to data from SoSoValue.

Tuesday alone saw inflows nearing the $1 billion mark, representing the strongest single day since mid-January.

This brings the total assets under management across these spot Bitcoin ETFs to an impressive $103 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) continues to lead the pack, accumulating $2.7 billion year-to-date, including $346 million just last week.

Observing the broad participation across ten of the eleven available funds, Bloomberg senior ETF analyst Eric Balchunas described the activity vividly, stating the ETFs had entered “Pac-Man mode.”

This widespread buying across multiple providers, rather than concentration in just one or two, suggests a broadening base of institutional conviction.

The total value traded across all spot Bitcoin ETFs reached $496 million, reflecting significant market activity.

Lofty projections: ARK Invest eyes $2.4 million bitcoin

Fueling longer-term optimism, prominent investment firm ARK Invest recently made headlines by significantly raising its 2030 price targets for Bitcoin.

Citing institutional investment as a primary catalyst, ARK lifted its “bull case” scenario from $1.5 million to a striking $2.4 million per Bitcoin by the decade’s end.

The firm also increased its “base” case to $1.2 million and its “bear” case to $500,000.

ARK research analyst David Puell explained the rationale, estimating Bitcoin could achieve a 6.5% penetration rate within the massive $200 trillion global financial system in their most optimistic scenario.

Furthermore, the firm’s model incorporates Bitcoin’s growing acceptance as “digital gold,” projecting it could capture up to 60% of gold’s approximately $18 trillion market capitalization.

Technical picture: holding support, eyeing breakout

From a technical analysis perspective, maintaining current levels is seen as critical.

Analysts emphasize the importance of Bitcoin holding support above the $93,500 zone to avoid potential downward pressure.

Crypto analyst Rekt Capital suggested BTC needs to consolidate above this level, ideally securing a weekly close above it, to “resynchronize with the former Reaccumulation range.”

Bitcoin has demonstrated its ability to trade above this mark this week, potentially reflecting its appeal as a safe haven amid ongoing geopolitical and trade uncertainties.

Sustaining this support could pave the way for a retest of the $100,000 barrier and potentially new all-time highs, according to expert consensus.

Further technical indicators point towards underlying market strength.

The amount of Bitcoin supply held in profit has reportedly surpassed the 16.7 million BTC “threshold of optimism.”

Historical analysis suggests that when Bitcoin consistently holds above this zone (as seen in 2016, 2020, and 2024), significant price appreciation often follows within months.

Traders like CrediBULL Crypto are looking for “one more leg on the lower timeframes” to confirm the breakout, suggesting momentum could potentially carry prices towards the $150,000 region if sustained.

Regulatory winds shifting? Fed withdraws guidance

Adding a potential tailwind, US banking regulators, including the Federal Reserve, recently took steps to withdraw previous crypto-specific guidance issued to banks in 2022 and 2023.

These earlier notices had often required pre-approvals for banks engaging in crypto activities and highlighted perceived risks.

By joining the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) in rescinding this guidance, the Fed stated the move aims to ensure its “expectations remain aligned with evolving risks and further support innovation in the banking system.”

While not creating new rules, this withdrawal effectively places decisions on crypto engagement more firmly in the hands of bank managers and compliance teams, pending potential future legislation from Congress.

Fed officials noted they “will instead monitor banks’ crypto-asset activities through the normal supervisory process,” potentially signaling a less prescriptive regulatory posture from these key agencies.

The combination of strong institutional inflows, ambitious long-term outlooks, supportive technicals, and a potentially less restrictive regulatory environment paints a compelling picture for Bitcoin as it holds key levels and eyes its next potential move higher.

The post Crypto news today: Bitcoin holds firm above $93K, fueled by record ETF inflows and bullish forecast appeared first on CoinJournal.

Veröffentlicht am

SEC postpones decisions on Polkadot and Hedera ETFs, over 70 filings await clarity

  • The agency would extend the deadline to June 11 to rule on Grayscale’s bid to convert its Polkadot Trust and Canary’s proposal to list a Hedera (HBAR) ETF.
  • A separate delay was also announced for the Bitwise Bitcoin and Ethereum ETF, now pushed to June 10.
  • The delays come as the SEC, under new Chair Paul Atkins, faces a backlog of more than 70 crypto ETF filings.

The US Securities and Exchange Commission has pushed back its decisions on crypto ETF proposals tied to Polkadot and Hedera, amid a broader wave of applications awaiting regulatory clarity.

The agency said Thursday it would extend the deadline to June 11 to rule on Grayscale’s bid to convert its Polkadot Trust and Canary’s proposal to list a Hedera (HBAR) ETF.

It was previously expected to be decided by the end of this week. A separate delay was also announced for the Bitwise Bitcoin and Ethereum ETF, now pushed to June 10.

In its filing, the SEC cited the need for “sufficient time to consider the proposed rule change and the issues raised therein.”

Over 70 ETFs await approval

The delays come as the SEC, under new Chair Paul Atkins, faces a backlog of more than 70 crypto ETF filings.

Applications range from major altcoins like XRP, Solana, and Litecoin to meme coin-themed and leveraged products.

Analyst Eric Balchunas called the ETF queue “wild,” noting the inclusion of everything from “Penguins, Doge, and 2x Melania.”

Atkins, a former commissioner with strong ties to Wall Street, was confirmed on April 21 after a contentious Senate vote.

Acting Chair Mark Uyeda had held off on major rulings, with insiders saying a lack of permanent leadership froze progress.

Under Gary Gensler, the SEC approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July, following a court decision favoring Grayscale.

Since President Donald Trump began his second term in January, the SEC has signaled a more crypto-friendly stance, hosting industry roundtables and dropping several lawsuits against crypto firms.

Another roundtable, focused on crypto custody, is set for Friday.

BTC ETFs show strong demand

Spot Bitcoin ETFs in the US have staged a remarkable comeback, pulling in $936.43 million in net inflows on Tuesday, April 22—marking their strongest single-day performance since mid-January, according to SoSoValue data.

That momentum held into the next day, with another $916.91 million in inflows logged on April 23.

BlackRock’s iShares Bitcoin Trust (IBIT) was the clear frontrunner, drawing $643.16 million, followed by Ark & 21Shares’ ARKB, which brought in $129.5 million.

The surge extends a four-day streak of inflows topping $100 million—a pattern last seen in late January, during a previous wave of institutional enthusiasm.

The sharp uptick follows a lull in ETF activity that had raised doubts about the durability of institutional interest.

However, the recent rebound has proven consequential, coinciding with Bitcoin’s surge past the $90,000 level.

The post SEC postpones decisions on Polkadot and Hedera ETFs, over 70 filings await clarity appeared first on CoinJournal.

Veröffentlicht am

Will XRP price explode ahead of CME Group’s futures launch in May?

  • XRP price currently faces downward pressure at a key level.
  • CME Group’s XRP futures launch on May 19, 2025, joining BTC, ETH, and SOL.
  • What does this mean for the XRP price?

CME Group’s addition of XRP futures to its existing lineup—alongside Bitcoin, Ether, and Solana—underscores rising institutional interest in the digital asset and cements its role in the evolving crypto derivatives market.

However, with XRP currently facing bearish pressure at a key level and neutral market sentiment, will this development ignite a price surge, or will caution prevail?

CME Group’s XRP futures and Ripple price

Ripple’s XRP is one of the top cryptocurrencies in terms of overall gains in the past year.

Multiple catalysts, including the conclusion of the legal tussle with the US Securities and Exchange Commission (SEC), have helped the XRP price.

Now, the announcement of CME Group’s XRP futures launch on May 19, 2025, has sparked excitement.

CME Group’s introduction of cash-settled XRP futures, based on the CME CF XRP-Dollar Reference Rate, offers institutional investors a regulated avenue to gain exposure to XRP.

Available in micro (2,500 XRP) and standard (50,000 XRP) contract sizes, these futures cater to diverse trading strategies, potentially boosting liquidity and price stability.

Ripple CEO Brad Garlinghouse says it’s a major milestone.

Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, highlighted growing institutional and retail adoption of XRP and its underlying ledger (XRPL), suggesting the futures launch responds to rising demand for risk management tools.

Historically, CME’s futures for Bitcoin and Ether have drawn significant institutional interest, often stabilizing prices over time while occasionally sparking short-term volatility.

For XRP, the futures could attract new capital, but the bearish technicals and neutral RSI suggest a breakout may hinge on broader market strength or positive developments in XRP’s ecosystem.

While the launch is a bullish signal, immediate price explosions are uncertain, with sideways consolidation likely unless momentum shifts.

Investors should monitor support levels and market trends closely, maintaining a neutral bias with a slight bearish tilt for now.

XRP price analysis

XRP’s current price action paints a cautious picture.

XRP chart by TradingView

At $2.21, down 1% in the last 24 hours, XRP currently hugs the upper Bollinger Band.

Meanwhile, price has bounced off the midline, indicating resilience under pressure.

The Relative Strength Index (RSI) at 55 and the Moving Average Convergence Divergence (MACD) show a bullish crossover.

However, the lack of robust momentum tempers expectations for an immediate rally.

Short-term sentiment leans bullish, though, with key support levels at $2.00 and $1.85 and major resistance at $2.5 and $3.

The post Will XRP price explode ahead of CME Group’s futures launch in May? appeared first on CoinJournal.