View moreIn This Week’s Recap:
- Texas Senate Holds Crypto Hearing
- Brazilian XRP ETF
- Argentina Meme Flops
- BankSocial Corner
- Hot Topics
The Big Idea
Texas Senate Holds Crypto Hearing
The Texas Senate recently held a public hearing to discuss the establishment of a Bitcoin reserve, marking a significant move toward broader crypto adoption. While some analysts see the hearing as symbolic unless a concrete investment plan is announced, it reflects Texas’ growing support for digital assets. Lee Bratcher, President of the Texas Blockchain Council and BankSocial partner, spoke at the hearing. This initiative isn’t just about Bitcoin — it’s part of a larger effort to increase adoption of all cryptocurrencies. Other U.S. states are considering similar measures, and even the federal government is exploring ideas that extend beyond just Bitcoin, signaling a broader embrace of digital assets.
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Adoption News
XRP Brazilian ETF To Launch
XRP is seeing attention ahead of the potential launch of the world’s first spot exchange-traded fund (ETF) tracking the cryptocurrency, with speculation that Brazil’s securities regulator has approved the move. The Hashdex Nasdaq XRP Fund is listed on the regulator’s website and is in the pre-operational phase, with confirmation from fund manager Hashdex. This approval marks a significant step for XRP’s institutional adoption, potentially shaping global regulatory attitudes toward crypto investment vehicles. Additionally, the U.S. Securities and Exchange Commission has acknowledged ETF applications for XRP from several firms, with speculation growing that other cryptocurrencies like Solana (SOL) and Hedera (HBAR) may also see similar filings.
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CEX, Rugs, Block and Roll
Argentina Meme Flops
An Argentine judge is investigating President Javier Milei’s involvement in promoting a cryptocurrency called $LIBRA, which crashed shortly after he recommended it on social media. While Milei denied any connection to the coin and deleted his post, opposition lawmakers and critics argue that the incident could be part of a scam, potentially costing investors billions. The case has sparked over 100 complaints, with some accusing Milei of fraud and misconduct. The scandal has created a major reputational crisis for Milei’s government, and some are calling for an impeachment trial. Others are debating the value of meme coins, many of which launch on Solana.
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BankSocial Corner
BankSocial Partners With Google
BankSocial is excited to announce our partnership with Google to transform every aspect of credit union technology. In collaboration with Google Cloud, we are paving the way for game-changing innovations in the financial sector. Join us from April 9–11 in Las Vegas at Google Cloud Next, where we’ll discuss how our solutions are revolutionizing credit unions, with a focus on international payments, money movement, and infrastructure. Additionally, this weekend, BankSocial CEO, John Wingate, will kick off Converge Accelerator at Harvard, delivering a keynote to launch the first-ever hackathon aimed at developing the best technology products for credit unions.
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While anyone can access the BankSocial ecosystem, certain features including the exchange require Verifiied®- our simple KYC solution. Login to My.BankSocial.io and start the process now.
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Hot Topics
What’s on everyone’s mind?
Boeing has concluded its tenure on the Hedera Governing Council. Hedera governing body members each serve 4 year terms, in order to keep the governing council fresh and democratic.
The SEC has created the Cyber and Emerging Technologies Unit (CETU), led by Laura D’Allaird, to combat cyber-related misconduct and protect investors from fraud in emerging technologies, focusing on areas like AI, blockchain, and cybersecurity compliance.
Open interest has dropped across major digital assets, as leveraged positions got wiped out in major market woves the last couple of weeks. Open interest in crypto refers to the total number of outstanding derivative contracts, such as futures or options, that have not yet been settled or closed.
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All The Love and All The Power!
was originally published in BankSocial News on Medium, where people are continuing the conversation by highlighting and responding to this story.
