Ripple CEO Predicts XRP ETFs are Inevitable!

Brad Garlinghouse believes it is important to add more commodities to the market.

Author

Danielle du Toit
June 05, 2024

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Here's what we've got for you today:

  • Ripple CEO Predicts Inevitable XRP ETF as Crypto Market Expands

  • BlackRock and Citadel Back New Texas National Stock Exchange

  • DWF Labs Pours Millions into Floki, Signaling Institutional Interest in Meme Coins

  • FTX and the IRS Agree to Settle a $24 Billion Tax Dispute

🔮 Ripple CEO Predicts Inevitable XRP ETF as Crypto Market Expands

Ripple CEO Brad Garlinghouse is very confident of the potential launch of XRP ETFs in 2025.

  • Ripple CEO Brad Garlinghouse is very optimistic about the potential launch of XRP ETFs, and even said that it is "inevitable".

  • Garlinghouse believes it is important to add more commodities to the market to provide more opportunities for investors.

  • The SEC's recent approval of spot Ether ETFs created a positive outlook for the potential launch of other exchange-traded funds, including those for XRP, Solana, and Shiba Inu.

The Texas Stock Exchange (TXSE) secured around $120 million in funding and is prioritizing ETF listings.

  • The Texas Stock Exchange (TXSE) has already secured around $120 million in funding and plans to file registration statements with the SEC by the end of the year.

  • The TXSE will provide a very attractive alternative for crypto companies looking to go public, considering the state’s pro-crypto stance.

  • The 11 approved spot Bitcoin ETFs are listed on Nasdaq and the NYSE, now the TXSE is looking to target ETF listings.

🐾 DWF Labs Pours Millions into Floki, Signaling Institutional Interest in Meme Coins

DWF Labs announced that it has made a $12 million investment in Floki tokens.

  • The relationship between Floki and DWF Labs started in May of 2023, when DWF Labs bought $5 million in FLOKI tokens and made a $10 million investment in Floki's sister project, TokenFi.

  • DWF Labs has played a crucial role in securing key exchange listings and industry partnerships for Floki, leading to a 700+% surge in the price of FLOKI over the past year.

  • DWF Labs is not only focused on FLOKI. In fact, the investment firm bought over $500,000 worth of LADYS tokens just last week.

Former FTX CEO Sam Bankman-Fried has also returned to the Metropolitan Detention Center in Brooklyn after spending a week at the Federal Transfer Center in Oklahoma City.

  • Bankrupt crypto exchange FTX has reached a tentative agreement with the IRS to settle a $24-billion tax dispute.

  • As part of the agreement, the IRS will receive $200 million in priority tax claims within 60 days of the court's approval of FTX's reorganization plan, and $685 million as a subordinated claim to be paid after customers and other creditors.

  • The exchange does not deny owing taxes but disagrees with the amount and specific reasons for the liability.

👀 QUICK NEWS

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