Crypto Weekly Digest, Mar17: Ripple-SEC Case to Close as XRP ETF Filings Rise
The past week in the cryptocurrency landscape has been marked by significant developments spanning regulatory changes, institutional moves, market shifts, and political endorsements. Bitcoin continued to dominate headlines, with its price surging above $84,000 following U.S. Consumer Price Index (CPI) data, signaling a relief rally. However, prominent figures such as Peter Schiff remained critical, arguing that Bitcoin is unsuitable for strategic reserves. Meanwhile, Arthur Hayes predicted a market correction, expecting Bitcoin to bottom out at $70,000 before rebounding.
Regulatory discussions took center stage as the U.S. Securities and Exchange Commission (SEC) continued its review of multiple ETF applications, including VanEck’s Avalanche ETF and XRP ETF filings from Franklin Templeton. Furthermore, Fidelity and Franklin’s spot Ethereum ETF applications, particularly those incorporating staking, remained under scrutiny. The SEC also outlined the roles of cryptocurrencies like XRP, Solana, and Cardano in shaping U.S. strategy, while separately considering Coinbase’s application for Cardano natural gas futures trading.
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The legal battle between Ripple and the SEC appeared to be nearing a settlement, a potential turning point for XRP. In a related move, Ripple expanded its footprint in the UAE by securing a DFSA license for crypto services. Other jurisdictions also embraced digital assets, with Bolivia adopting crypto for fuel imports amid a dollar shortage and Russia exploring crypto trading for qualified businesses. Brazil showed interest in leveraging blockchain technology for BRICS trade advancements.
Institutional adoption continued its upward trajectory. Kraken announced plans for an IPO in 2026 as it navigates shifting regulatory landscapes. Spain’s financial authority BBVA gained approval to offer Bitcoin and Ethereum services in Spain, while Rumble expanded its Bitcoin holdings with a $17.1 million purchase. Meanwhile, MGX acquired a minority stake in Binance through a $2 billion crypto deal, signaling confidence in the exchange’s future despite ongoing regulatory challenges. BlackRock’s BUIDL fund reached the $1 billion milestone after a significant $200 million investment from Ethena, reinforcing the growing institutional appetite for digital assets.
On the governance front, Solana’s SIMD-0228 proposal faced rejection, yet the process strengthened community-driven decision-making mechanisms. Similarly, the Cardano Foundation encountered internal tensions over proposed budget cuts, highlighting the ongoing challenges of decentralized governance. Chainlink facilitated further interoperability within the crypto ecosystem as HashKey Chain adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
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The altcoin sector saw mixed movements, with AI tokens rallying after a tweet from Sam Altman sparked a buying frenzy. Meme coins also made waves—PEPE surged 14.2% amid rising demand, and the Doginme token saw a staggering 150% increase following a whale purchase. Meanwhile, Shiba Inu enthusiasts speculated on a potential 12x surge, fueled by broader market optimism. Despite these gains, some altcoins faced setbacks as market activity signaled a potential shift, with analysts debating whether the ongoing bull run was nearing exhaustion.
Ethereum faced bearish pressures, with analysts warning of a possible drop to $1,000. However, bullish sentiment remained as BlackRock CEO Larry Fink warned that nationalist policies could exacerbate inflation, indirectly reinforcing the value proposition of decentralized assets. A high-risk Ethereum whale demonstrated the lucrative nature of crypto trading, securing a $2.15 million profit in just 50 minutes.
Politics also played a growing role in crypto’s narrative. Reports surfaced that the Trump administration advocated for the U.S. to accumulate as much Bitcoin as possible, aligning with a broader push for mainstream financial integration. In line with this, the Department of Housing and Urban Development (HUD) explored blockchain applications as Trump called for greater crypto adoption. Additionally, a Trump-backed WLFI token sale raised a remarkable $550 million, reflecting increasing political and financial alignment within the space.
Related: Dogecoin Hits Sentiment Lows: Could a $2 Breakout Be Next?
Elsewhere, traditional finance and digital assets continued to converge. Robinhood settled FINRA compliance probes with a $29.75 million payment, reflecting the industry’s ongoing regulatory evolution. Three Arrows Capital secured a significant $1.53 billion claim against FTX, further unraveling the aftermath of the exchange’s collapse.
As the crypto sector navigates regulatory hurdles, institutional adoption, and market volatility, the coming weeks will be crucial in determining the long-term trajectory of digital assets. With growing interest from political figures, institutional investors, and global regulators, the cryptocurrency landscape remains as dynamic as ever.
