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Summary ⚈ The world’s first spot XRP ETF has dropped 10% in its debut week amid market volatility. ⚈ U.S. SEC has delayed the XRP ETF decision to June 2025, possibly tied to the Ripple case timeline. ⚈ Approval odds sit at 74% as XRP futures ETFs await May launch. The world’s first spot XRP exchange-traded fund (ETF), listed under the ticker XRPH11 on Brazil’s B3 stock exchange, is off to a rocky start, tumbling nearly 10% over the past week. The XRP HASH CI ETF closed the May 5 trading session at R$19.30 ($3.47), ending the day down 3.5%. Over the past five trading sessions, the ETF has dropped by 8.70% amid a broader cryptocurrency market volatility.  XRPH11 all-time price chart. Source: TradingView Despite a promising debut, the ETF has struggled to gain momentum, facing headwinds from the relatively small Brazilian market and mounting selling pressure on XRP.  As of press time, XRP was trading at $2.10, down over 4% in the last 24 hour...

The extradition of Terraform Labs founder Do Kwon was revoked by the Appellate Court of Montenegro today after a successful appeal, sending him back to court where he will undergo a retrial. On December 29 last year, the Podgorica High Court ruled that the legal requirements were fulfilled to extradite Kwon so that he could be prosecuted by either South Korea or the United States. However, a translated press release shows that the appeals court has vetoed the High Court’s ruling due to “significant violations of the provisions of criminal procedure.” As a result, the court has “returned the case to the court for retrial and decision,” pointing out that “the wording of the decision is incomprehensible , the decision has no reason for decisive facts, and the reasons given are unclear.” Do Kwon asks US court to postpone SEC case amid extradition delays Read more: Do Kwon granted extradition, but to US or South Korea? Kwon successfully appealed his extradition on Decemb...

In their filing, the legal practitioners advocated for the Court to steadfastly adhere to the established definition of the term 'investment contract' when interpreting its scope. A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged in the pertinent case. Its typical purpose is to provide supplementary arguments in favor of one side of the lawsuit while underscoring the wider implications that the case may carry beyond the immediate litigants. The group of legal scholars presented their amicus brief to the U.S. District Court situated in the Southern District of New York. Leveraging their understanding of securities laws, they embarked upon the task of shedding light on the intricate historica...

As the deadline approaches for the decision to opt out of the existing $22 million settlement with Block.one (B1), the company responsible for the initial sale of EOS in a $4 billion initial coin offering (ICO) back in 2018, the EOS Network Foundation (ENF) has advised its community members to carefully consider their options. The ENF argues that the current settlement might not adequately compensate community members for their losses due to B1’s alleged “misrepresentations and wrongful actions.” A minuscule portion to pay back On Aug. 8, the ENF pointed out that B1 had only paid $22 million of the $4 billion raised, which included an unrealized commitment of $1 billion for the EOS Network and its community. The EOS Network Foundation Urges $EOS Community to Reject @B1 Settlement The EOS Network Foundation (ENF) has received numerous questions from community members over the last several weeks as to whether community members should join or opt out of the propos...