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XRP NEWS: BRAZIL APPROVES WORLD’S FIRST SPOT ETF, LEAVING U.S. BEHIND
▪️Brazil becomes first country to approve spot XRP ETF, surpassing the U.S.
▪️Brazil’s CVM approves Hashdex Nasdaq XRP Index Fund, awaiting B3 stock exchange listing.
▪️Meanwhile, U.S. SEC delays XRP ETF decisions, awaiting Ripple lawsuit resolution.
Brazil has made history by approving the first spot XRP exchange-traded fund (ETF), taking the lead ahead of the U.S. and other major markets. The country’s Securities and Exchange Commission (CVM) has given Hashdex the go-ahead for its XRP ETF. Meanwhile, the ETF is set to debut on the B3 stock exchange, offering investors direct exposure to XRP.
XRP ETF Finally Gets Approval
According to recent reports, Brazil’s CVM has approved the Hashdex Nasdaq XRP Index Fund, making it the first spot XRP ETF to receive official regulatory backing.
However, established on December 10, 2024, the fund is now in its pre-operational phase, awaiting final clearance from the B3 stock exchange before trading can begin. Hashdex, the asset manager behind the fund, has yet to announce the official listing date.
This approval is a big step forward as more people worldwide show interest in crypto ETFs. Meanwhile, investors want safe and regulated ways to invest in digital assets, and Brazil’s quick action puts it ahead of many other countries in meeting this need.
XRP ETF Interest Grows Worldwide
Several major firms, including Bitwise, 21Shares, CoinShares, and Grayscale, have recently filed applications for spot XRP ETFs. However, the U.S. Securities and Exchange Commission (SEC) has yet to approve any of these applications.
Meanwhile, Bloomberg senior ETF analysts James Seyffart and Eric Balchunas both estimate a 65% chance of approval but suggest that the SEC may delay any decision until its lawsuit against Ripple is fully resolved.
XRP Price Recorded 7% Gain
After Brazil approved the XRP ETF, the price of XRP jumped by 7%, reaching around $2.67 in the last 24 hours. This rise made XRP the best-performing asset among the top ten cryptocurrencies, with a 10% gain over the week.
Although recent data from Coinglass shows that XRP saw $8.20 million in future liquidations during this time. Out of this, $2.31 million came from long positions, while $5.69 million came from short positions.
Meanwhile, Key Market indicators like the Relative Strength Index (RSI), Stochastic Oscillator (Stoch), and Moving Average Convergence Divergence (MACD) suggest strong buying momentum, hinting at more possible gains for XRP.
@ Newshounds News™
Source: Coinpedia
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TRUMP’S RADICAL GOVERNMENT SHAKE-UP TARGETS NASA, IRS, FDIC, AND DHS
President Donald Trump’s administration is executing a sweeping overhaul of the U.S. civil service, with tech billionaire Elon Musk spearheading the Department of Government Efficiency (DOGE). Thousands of federal employees have been dismissed as part of this controversial restructuring.
Trump claims the initiative will save “hundreds of billions,” though Musk’s team reports $55 billion in savings so far—less than 1% of the federal budget. Republicans praise the effort to cut what they see as bloated bureaucracy, while Democrats argue it threatens essential government services and middle-class jobs.
NASA faces 1,000 layoffs, while the IRS has identified at least 7,500 employees for termination. The Federal Deposit Insurance Corporation (FDIC) and the Federal Emergency Management Agency (FEMA) have also begun dismissals. Meanwhile, the Department of Homeland Security (DHS) is preparing to fire hundreds of senior employees deemed not aligned with Trump.
Critics question Musk’s authority as his companies, including Neuralink, remain under federal investigation. Lawsuits challenging his role have produced mixed rulings, with a judge recently allowing the campaign to proceed while raising concerns about oversight.
Trump further asserted executive power by ordering greater presidential control over independent agencies. Meanwhile, lawmakers claim transparency is lacking, with oversight requests going unanswered.
Defending Musk, Trump called him a “patriot” but clarified that he would not have decision-making authority over space-related matters. As mass layoffs continue across federal agencies, uncertainty looms over the future of government operations and thousands of public-sector employees.
@ Newshounds News™
Source: Economic Times
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