The past week in the financial world was nothing short of eventful. From Ripple’s legal victory to GameStop’s new Bitcoin strategy, there was no shortage of intriguing developments. Let’s dive into the top stories of the week.
XRP’s Legal Win: A Boost Amid Stablecoin Surge
Despite Ripple Labs’ recent legal victory over the SEC, where it agreed to a reduced penalty of $50 million, experts are divided on whether XRP (CRYPTO: XRP) can benefit from the current stablecoin rally. Ripple’s Chief Legal Officer, Stuart Alderoty, announced that the SEC would return $75 million, pending final court and commissioner approval. However, the question remains whether this win will position XRP favorably in the stablecoin market.
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Peter Schiff Questions Bitcoin Demand
Gold advocate Peter Schiff has once again criticized Bitcoin (CRYPTO: BTC), questioning the source of its current demand. Schiff pointed out two major factors driving Bitcoin’s demand: Michael Saylor’s relentless Bitcoin purchases for Strategy and speculators betting on strategic reserves.
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See Also: Elon Musk Says Tesla Doesn't Need Lidar Because ';People Don't Shoot Lasers Out Of Their Eyes' After YouTubers Put His Cars Through Wylie E. Coyote Tests
Robinhood’s ‘Schwab for Everyone’ Vision
Robinhood Markets Inc. (NASDAQ:HOOD) is making strategic moves to capture a portion of the $114 trillion wealth transfer heading toward younger, tech-savvy investors. Bernstein analysts have praised Robinhood’s latest offerings, calling it “Schwab elite banking for everyone,” highlighting the platform’s shift towards higher-end financial services.
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Crypto.com’s SEC Clearance Boosts Native Token
Crypto.com’s native token, Cronos (CRYPTO: CRO), saw a significant surge after the company announced that the SEC would not take any enforcement action against it. The company’s CEO, Kris Marszalek, confirmed the closure of the SEC’s investigation, leading to a 12% increase in the token’s value.
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GameStop’s Bitcoin Strategy Gets Cramer’s Approval
GameStop Corp. (NYSE:GME) received praise from influential market commentator Jim Cramer for its newly announced Bitcoin treasury strategy. Cramer expressed his approval on social media, stating that GameStop is finally implementing the Bitcoin strategy he had previously advocated for.
Read the full article here.
Read Next:
- Elon Musk Says ';Hang On To Your Stock’ In Surprise Late-Evening Tesla All-Hands Meeting -- Touts 7 Million EVs, Optimus Robot, And AI Supercomputer Dojo
Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Ananya Gairola
