Eric Trump Joins Metaplanet Advisory Board
The cryptocurrency market reacted positively to the results of the latest meeting FED, posting a second straight week of gains. In line with earlier expectations, interest rates remained unchanged. Meanwhile, the central bank, despite ongoing uncertainty over tariffs, maintained its forecast of two rate cuts in 2025 and said it would slow the pace of its balance sheet reduction from next month.
Bitcoin's valuation rose to $87, reaching its highest price since March 470 of this year. If the current trend related to the Fed's decisions continues, it could mean that after falling to $7, Bitcoin is once again in an upward phase.
This week, more US inflation data is expected, including Personal Consumption Expenditures (PCE) readings. At the beginning of the month, the Consumer Price Index (CPI) was lower than previously expected. If the PCE is similar, it could further support the price of the Bitcoin, as well as the entire cryptocurrency market.
$XRP was one of the biggest winners this week, rising 26 cents (11%) following Ripple CEO Brad Garlinghouse’s announcement that the SEC case against the company had come to an end.
$ORCA, the native token of the decentralized Orca exchange based on Salting, has seen a massive price increase, rising as much as 280% at its all-time high. The event came after the crypto asset was listed on Upbit, one of South Korea's largest centralized exchanges, on Friday. The price jumped from $1,50 to $6 in the hours following the announcement.
Eric Trump Joins Metaplanet Advisory Board
Japanese public company Metaplanet announced last week that it had appointed Eric Trump to its newly formed Strategic Advisory Board. The appointment is intended to further support Metaplanet’s mission to promote Bitcoin adoption in Japan and solidify the company’s position as a global leader in the “Bitcoin Economy.” The move sent Metaplanet’s stock price up 17% from its previous close. While still 50% off its February peak, it’s up 2400% year-over-year. In 2024, the company acquired Bitcoin for the first time and began an accumulation strategy. The company currently holds about 3200 Bitcoins (about $269 million), which is 0,015% of the total supply of 21 million.
Ripple CEO Brad Garlinghouse predicts XRP ETF approval by year-end
In an interview with Bloomberg last week, Ripple CEO, Brad Garlinghouse, stated that we could see an XRP ETF approved by the end of the year. Garlinghouse also added that XRP will likely be included in the proposed U.S. digital asset reserve, though it’s not yet clear how much will be included or where exactly the assets will come from. Garlinghouse’s optimism about XRP’s future stems from the resolution of Ripple’s long-running legal dispute with the SEC. Speaking to the eToro Digest & Invest podcast in December, Garlinghouse highlighted the SEC’s changing stance from “actively antagonistic” to more supportive, stating that “it’s inevitable that there will be an XRP ETF.” Additionally, Garlinghouse shared his thoughts on the growing openness of U.S. banks and financial institutions to cryptocurrencies. He specifically noted digital asset storage and payments as two areas that will generate the most activity in the short term.