ETFs
Five things to know about crypto this week: BTC-Spot ETFs benefit from 4-week entry streak
ETH Weekly Chart 010624
Rippled contributions highlight importance of US presidential election
Wednesday May 29, Brad Garlinghouse, CEO of Ripple announcement a $25 million contribution to Fairshake. Fairshake supports U.S. candidates committed to making the country home to the innovators who will build the next generation of the Internet.
Republican Party frontrunner Donald Trump has implemented crypto in the race for the US presidential election. saying,
“If you like crypto in any form…and it comes in many forms…if you are pro-crypto, you better vote Trump.”
Before the launch of US BTC spot ETFs, 52 million Americans owned cryptocurrencies. Trump’s take could also prompt the Biden administration to reconsider its stance on crypto and innovation.
On Thursday, May 30, Donald Trump became the first former president to be convicted of crimes. Despite the guilty verdicts, Trump remains the favorite of the Republican Party, carrying the hopes of the crypto market.
There was also SEC case against Ripple-investor-related updates to consider. On Wednesday, May 29, Ripple filed its response letter, supporting the Motion to seal. Ripple has strengthened its argument for sealing non-public inflation, including its financial statements.
After a court ruling on the sealing petition, US courts will decide the penalty Ripple must pay for violating US securities laws.
Additionally, investors expect the SEC to appeal programmatic sales of XRP decision after the affair. The SEC plan remains an obstacle to XRP. However, a shift in sentiment toward crypto on Capitol Hill could end plans for an SEC appeal and fuel speculation about an XRP spot ETF market.
From Monday, May 27 to Saturday, June 1, XRP fell by 1.86% to $0.5184. Despite the weekly loss, XRP recorded gains of 3.30% in May.