Appold Market Watch - Week ending 21 March 2025
Market Update & Industry News - Week ending 21 March 2025
🔷 The creator of the XRP token, Ripple Labs, announced that the U.S. Securities and Exchange Commission (SEC) has officially dropped its appeal against the company, marking the conclusion of a long-standing legal battle over the classification of XRP tokens. The case stemmed from a 2020 lawsuit, with a 2023 court ruling determining that XRP sales on public exchanges did not constitute securities.
Appold view: It’s been a long journey. What a difference a new government makes. This move brings much-needed regulatory clarity for XRP and signals a more measured approach to crypto enforcement ahead.
🔷 Digital asset exchange Kraken Digital Asset Exchange announced its acquisition of retail futures trading platform NinjaTrader in a $1.5bn deal. The move assists Kraken in diversifying its offering beyond digital assets, expanding into traditional asset classes and retail trading. NinjaTrader, which serves around 2 million traders globally, will continue to operate as a standalone brand under Kraken’s ownership. The acquisition is expected to close in the first half of 2025.
Appold view: The deal not only creates synergies with Kraken’s existing business but also reflects a broader push into traditional finance, echoing previous moves by peers Coinbase and Bitpanda. It also signals a growing convergence between digital assets and legacy markets.
🔷 The U.S. SEC convened its “Crypto Task Force” for a public roundtable to discuss the application of securities laws to digital assets. This initiative aligns with President Donald Trump’s agenda to overhaul digital asset regulations. In the first public meeting, the roundtable featured experts, including former SEC official John Reed Stark and a16z’s general counsel Miles Jennings.
Appold view: This high-profile participation at the roundtable with the SEC’s Crypto Task Force underscores a renewed momentum toward regulatory clarity and the growing importance of shaping coherent digital asset policy.
🔷 Gibraltar-based private bank Xapo Bank introduced Bitcoin-backed USD loans targeting long-term holders. Pre-approved clients can now access loans up to $1 million without the bank rehypothecating their Bitcoin collateral, which is securely stored using institutional multiparty computation custody.
Appold view: By avoiding rehypothecation and on-lending, Xapo targets sophisticated long-term Bitcoin holders seeking stronger assurances over the safety of their collateral. Whether this makes the debt more expensive is unclear at present.
#Marketwatch #Blockchain #Investments
