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Ripple CEO Comments On Brian Quintenz’s Nomination For CFTC Role
Ripple CEO Brad Garlinghouse has acknowledged the nomination of Brian Quintenz for the role of Chairman of the Commodity Futures Trading Commission (CFTC). In a social media post, Garlinghouse emphasized the importance of the CFTC in maintaining the strength of U.S. capital markets and congratulated Quintenz on his nomination.
Ripple CEO Reacts to Brian Quintenz’s Nomination for CFTC Chairman Role
In a post on the X platform, Ripple CEO Brad Garlinghouse replied to a tweet from Brian Quintenz, congratulating him on his nomination as the next Chairman of the Commodity Futures Trading Commission (CFTC). Garlinghouse emphasized the role of the CFTC in ensuring the strength of U.S. capital markets and expressed support for Quintenz’s appointment. His acknowledgment comes amid increasing discussions about regulatory oversight in the cryptocurrency industry.
Brian Quintenz has been nominated by former President Donald Trump to lead the CFTC. His prior experience in the CFTC gives him an understanding of market structures and crypto regulations.
Garlinghouse’s comments reflect Ripple’s ongoing engagement with regulatory matters. The company has been involved in legal disputes with the U.S. Securities and Exchange Commission (SEC) over whether its XRP token qualifies as a security.
Given that the CFTC oversees commodity and derivatives markets, Quintenz’s leadership will bring discussions on the classification of digital assets.
A recent CoinGape report highlighted that Quintenz’s appointment as CFTC Chair could benefit the crypto industry due to his extensive experience in digital asset policy. His background at a16z and past advocacy for crypto derivatives suggest a regulatory approach that supports innovation
Experience in Financial Regulation
Brian Quintenz, a former CFTC Commissioner, helped shape policies on derivatives and emerging financial technologies. His work at the agency focused on promoting innovation while ensuring compliance with regulatory requirements. His experience in financial markets and digital asset regulations positions him as a knowledgeable figure in the evolving crypto regulatory landscape.
After his tenure at the CFTC, Quintenz joined Andreessen Horowitz (a16z) as the head of crypto policy. At a16z, he worked on regulatory frameworks to support blockchain and digital asset development. His work in finance and crypto has influenced discussions on balancing growth with regulation.
Impact On The Crypto Industry
Brian Quintenz’s experience in traditional finance and crypto will help shape clear digital asset policies. His previous statements suggest he supports regulatory clarity and frameworks that encourage market development.
The cryptocurrency industry has been advocating for well-defined regulations, particularly in distinguishing between securities and commodities. The CFTC has been seen as a more favorable regulator for digital assets compared to the SEC.
If confirmed, Quintenz’s leadership will provide further direction on how digital assets are regulated under the agency’s jurisdiction.
Meanwhile, there have been rumors that Ripple CEO Brad Garlinghouse could be appointed to Donald Trump’s crypto advisory board, sparking speculation about his future at Ripple. As discussions grew, the crypto community speculated whether he must resign as Ripple CEO if he accepted the role.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Despite the recent attempt by the bulls, Ethereum price has struggled to regain past $2,000 levels recently. Market analysts believe that there’s enough possibility that ETH could see another 50% drop to $1,000 as some early ETH whales resolve to heavy profit booking.
Ethereum Price Struggles to Regain $2,000
Amid the overall market uncertainty, Ethereum continues to face some selling pressure as bulls fail to regain control over $2,000 levels. Crypto analyst Ali Martinez has stated that investors should maintain caution before building fresh positions in ETH.
“Ethereum hits $2,000. Cool, but zoom out! The big picture is brewing something bigger,” Martinez stated. As per the below chart shared by Martinez, if bulls fail to hold the Ethereum price above $2,050, it risks further falling to the next support at $1,500, and even below all the way to $1,095 levels, per his recent ETH price prediction.
As of press time, the ETH price is trading 2.26% down at $1,973 with its daily trading volume dropping over 40% to $12.21 billion. Furthermore, the ETH futures open interest has also dropped 4% under $20 billion. A recent ETH price prediction also hints that the crypto will hover near $2K for some time ahead.
Early ETH Whale Sells 34,125 Coins
Blockchain analytics platform SpotonChain reported that a major ETH whale appears to have secured a massive profit of $65.66 million, marking a staggering 4,156% return on investment. The whale’s holdings date back to March 2017 when they acquired the ETH from platforms like Changelly, Bitfinex, ShapeShift, and Binance at an average cost of just $46.3 per token.
The whale, identified as “0x086,” deposited its entire ETH holdings of 34,125 ETH to crypto exchange Coinbase a few hours ago. This transaction happened at an average Ethereum price of $1,970.
Currently, the ETH whale activity remains mixed as some big players are moving it from exchange and moving it to staking to earn the extra yield. These are specifically the long-term ETH holders holding with diamond hands.
BlackRock Explains Why Ethereum ETFs Are Struggling
Despite Ethereum price eyeing a relief rally past $2,000, there’s no major relief for spot Ethereum ETFs. The outflows have continued through March 2025 so far, highlighting a major drop in institutional sentiment.
While speaking at the Digital Asset Summit (DAS) in New York City, BlackRock’s head of digital assets Robbie Mitchnick explained the real reason behind this fall. Mitchnick suggested that the ETFs could have performed better if they had included staking, noting that the absence of this feature made the launch “less perfect.”
“A staking yield is a meaningful part of how you can generate investment return in this space. And all the [Ether] ETFs, of course, at launch did not have staking,” he said.
On Thursday, crypto asset manager Bitwise filed a proposal to introduce staking on Ethereum ETFs. The New York Stock Exchange (NYSE) has proposed amendments to allow the listing and trading of shares for the Bitwise Ethereum ETF, incorporating staking capabilities.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, the analyst alluded to a previous analysis, in which he predicted that XRP could reach $130, a move which confirms that the altcoin is still on the path to this ambitious target.
XRP Price Set To Rally To $130
In an X post, Egrag Crypto confirmed that the XRP price could rally to $130. He alluded to a previous analysis in which he predicted that the altcoin could rally to this target while stating that only a few understand what is coming for the altcoin. Back then, the analyst had highlighted $130 as one of the massive macro targets as XRP eyes a parabolic breakout.
He also raised the possibility of XRP entering its most explosive phase yet and added that the “eruption is near.” Indeed, XRP might be about to enter its most explosive phase, considering that the US SEC has agreed to drop the Ripple lawsuit. This development is very bullish for the XRP price, as the long-running legal battle had negatively impacted the altcoin during the 2021 bull run.
In another X post, Egrag Crypto revealed how XRP could rally to as high as $8 in the midterm. He stated that a close above $2.66 would be a good sign, followed by another close above $2.97, which would be a second bullish confirmation.
The analyst asserted that the ultimate confirmation for a bullish trend would be a close at $3.40. Egrag Crypto stated that the next targets are between $5 to $8 if XRP hits $3.40, which is the current all-time high (ATH).
What Next For The Altcoin As Key Structure Holds
Crypto analyst CasiTrades revealed that the XRP price has held its structure. She noted that the altcoin took a strong dip to a local 0.5 retracement level but held structure right where it needed to. She added that even with the break below $2.40, XRP respected the channel structure and closed at the 1.236 extension for Wave C.
The analyst remarked that this price action is textbook Wave 4 behavior and, as long as XRP doesn’t witness further breakdowns, new highs could be loading. She warned that this is still a critical moment. If the channel continues to hold, CasiTrades predicts that the altcoin should make a push toward $2.65 to $2.70 with the breakout.
She again affirmed that $2.70 is the next major level to flip to support to continue the macro trend up towards ATH. The analyst revealed that the $2.45 price level is the resistance that will help confirm this push. Coincidentally, XRP is currently testing this level. CasiTrades warned that if the altcoin can’t break it, it could record another dip to the deeper 0.618 retracement level at $2.36.
Regardless of any dip, the crypto analyst asserted that the XRP price remains bullish on the macro degree, sitting above its major 0.382 retracement level at $2.25. She remarked that new highs above $3.40 should be printing soon.
Besides the SEC’s decision to drop the Ripple lawsuit, fundamentals such as Bitnomial’s launch of XRP Futures contracts also provide a bullish outlook for the altcoin and could spark a significant price surge.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Solana price has gained by a strong 6% in the last 24 hours moving to $135 amid the optimism surrounding the launch of futures Solana ETF by Volatility Shares on Thursday. As a result, traders have charged in with daily trading volumes for SOL surging by 61% to more than $3.57 billion.
Solana Price Action Draws Trader Interest, Is Bottom In?
Today’s Solana price action happens along with significant trader interest in the altcoin. Popular crypto analyst Ali Martinez pointed out that the Solana futures open interest has shot up to $2.7 billion, the levels last seen in October 2024. This shows a renewed interest in the Solana derivatives market while signaling growing participation from investors and traders alike.
After hitting the highs of around $270 in November 2024, the Solana price corrected more than 50% from the top in just the last four months. However, market analysts believe that SOL is showing signs of a bottom formation, and could reverse its trajectory from here onwards.
As shown in the below image, the Solana price has broken out of the converging triangle pattern. As a result, the immediate target on the upside could be in the range of $150-$180. Once the bulls successfully cross this range, we can see another leg of the rally to %260 and beyond.
Tuesday’s FOMC meeting saw the Federal Reserve keeping interest rates unchanged at 4.5%, which is the expected line. Bitcoin and the broader crypto market took this as a positive indicator with investors showing strength. The current SOL price prediction by analysts suggests that the bullish sentiment is once again picking up with the hope of an altcoin market revival.
Solana ETFs Go Live Today
In a major development for the crypto community, Florida-based investment giant Volatility Shares will bring the first-ever futures Solana ETFs to the US market. This marks the stepping stone for getting the spot ETF products into the market in the future. This is the same trajectory that was followed to bring spot Bitcoin ETF and spot Solana ETF to the market.
Volatility Shares LLC will introduce two Solana Futures ETFs with tickers – SOLZ and SOLT. Here, the standard Solana ETF (SOLZ) will directly track Solana futures, while the leveraged Solana ETF (SOLT) will provide investors with double the exposure to Solana price movements.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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