Top 5 Crypto News of the Week! (17

Dear PointPay Family,

News, events, changes and more have whizzed past us this week. To make sure you don't miss any key events, we've compiled the Top 5 news stories of the last 7 days in our article!

SEC May Drop Case Against Ripple as April Deadline Approaches

The long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) could reach a turning point in April. With deadlines looming, some experts believe the SEC might withdraw its claims, especially given its recent shift in priorities under new leadership. The agency has already removed references to the lawsuit from its website, fueling speculation about a potential resolution. However, no formal action has been taken yet, and the outcome could have significant implications for crypto regulation in the U.S.

Abu Dhabi’s Mubadala Invests $436M in Bitcoin ETF

Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, has made a bold move into crypto by investing $436.9 million in the iShares Bitcoin Trust ETF. The fund, which manages over $280 billion in assets, acquired 8.2 million IBIT shares in Q1 2024, marking one of the first significant crypto allocations by a sovereign wealth fund. The investment reflects growing institutional interest in digital assets, particularly in the Middle East, where governments and financial institutions are increasingly embracing blockchain technology.

Brazil Approves First Spot XRP ETF Amid Rising Institutional Interest

Brazil’s securities regulator has approved the country’s first spot XRP ETF, opening new opportunities for institutional investors. Managed by Hashdex, the fund will trade on Brazil’s B3 exchange, though an official launch date has yet to be announced. This approval comes as the U.S. SEC reviews similar filings for XRP ETFs, indicating broader acceptance of crypto investment products. Following the news, XRP saw an 8% price surge, bringing it closer to its all-time high.

Texas Moves Closer to Becoming First U.S. State with Bitcoin Reserves

Texas is on track to make history by establishing a state-held Bitcoin reserve. A proposed bill, which recently passed its first hearing, is expected to clear committee approval, paving the way for Texas to become the first U.S. state to hold BTC as part of its financial strategy. If enacted, this move could set a precedent for other states exploring crypto as a treasury asset.

Ethereum User Burns 600 ETH in Protest Against Brain Control Technology

A mysterious Ethereum user has burned over 600 ETH in a series of transactions allegedly protesting the use of brain-machine interface technology in China. The transactions, which also included a 591 ETH donation to WikiLeaks, carried on-chain messages in Chinese, raising concerns about potential misuse of emerging neurotechnology. The symbolic act of burning funds and redirecting assets to whistleblowing organizations has drawn significant attention within the crypto community.

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