SEC chairman Paul Atkins on 'Project Crypto'
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Yahoo
an hour ago
- Yahoo
1 Reason to Buy Ripple (XRP)
Key Points Investors are expecting SEC approval for XRP ETFs this year. This could attract more institutional investors, like it did for Bitcoin and Ethereum. 10 stocks we like better than XRP › After performing well for most of July, XRP (CRYPTO: XRP) has hit a speed bump. The price is down about 12% over the last seven days at the time of this writing (July 29). This isn't exactly an opportunity to buy the dip, considering XRP is still up 52% on the year and not too far off its recent highs. But you might still want to consider picking up some XRP tokens right now, because there's a big potential growth catalyst on the horizon. The SEC may approve XRP ETFs this year The Securities and Exchange Commission (SEC) approved the first spot-crypto exchange-traded funds (ETFs) last year, starting with Bitcoin (CRYPTO: BTC) ETFs in January. It approved Ethereum (CRYPTO: ETH) ETFs in July 2024. Bitcoin and Ethereum are the two largest cryptocurrencies by market cap. After its recent success, XRP is third, and several asset managers have filed for XRP ETFs with the SEC. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA The applications are currently under review, but the consensus is that it's only a matter of time. Polymarket currently puts the approval odds at 86% for a spot XRP ETF in 2025. ETF approval would make it easier to invest in XRP, increase liquidity, and would also likely attract more institutional investors. That's been the case with Bitcoin and Ethereum. Bitcoin ETFs have seen inflows of $55 billion since approval, and Ethereum ETFs have had inflows of over $9 billion. Despite its recent success, XRP still hasn't topped its all-time high of $3.84 from January 2018. If the SEC approves XRP ETFs this year, it could be just what the cryptocurrency needs to surpass that and potentially break the $4 mark. XRP could be a long-term winner XRP has been one of the best cryptocurrency investments recently, and its use in international payments gives it real-world value. If you've been thinking about investing, consider doing so before a decision is made on XRP ETFs. Should you invest $1,000 in XRP right now? Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Lyle Daly has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool has a disclosure policy. 1 Reason to Buy Ripple (XRP) was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 hours ago
- Business Insider
Nigeria hits panic button as West Africa logs $2.1bn in suspicious crypto transactions
The increase in questionable cryptocurrency-related activities throughout West Africa has deeply alarmed Nigeria's Securities and Exchange Commission (SEC), as highlighted by its Director-General, Dr. Emomotimi Agama. Nigeria SEC raises alarm over increasing cryptocurrency-related fraudulent activities in West Africa. GIABA study shows $2.1 billion suspicious cryptocurrency transactions occurred in 2024 within the region. Dr. Emomotimi Agama highlights the exploitation by criminal actors due to regulatory gaps and lax compliance. The Director-General cited a study from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), which stated that in 2024 alone, the region saw an astounding $2.1 billion in questionable cryptocurrency transactions. Speaking at the West Africa Compliance Summit, which was recently held in Praia, Cape Verde, Dr. Agama emphasized that although the adoption of virtual assets is rapidly increasing throughout the continent, the advantages are being eroded by criminal actors exploiting lax regulatory frameworks and compliance gaps. 'DeFi 'rug pulls' continue to defraud unsuspecting users. GIABA reported $2.1 bn in suspicious crypto-linked transactions in West Africa in 2024, with terror groups exploiting privacy coins to evade detection,' he stated. According to the Director-General, as reported by the Punch, significant losses for investors have been brought about by fake crashes, unregistered exchanges skimming funds, and insufficient monitoring. To plug gaps that criminals take advantage of, Agama indicated the SEC was stepping up its efforts to keep an eye on activity in the digital asset market and emphasized the importance of regional collaboration. 'We must harmonise our regulatory frameworks, share intelligence, and adopt best practices to close loopholes exploited by bad actors. A trader banned in Nigeria simply relocates to Ghana. ECOWAS must adopt a Unified VASP Licensing System,' he stated. Referencing one of the most pronounced fraud cases in recent years, the director-general revealed that the SEC has inaugurated an awareness program across major cities like Lagos and Abuja to mitigate schemes like CBEX, which defrauded Nigerians of billions of dollars. CBEX Ponzi scheme CBEX, a platform claiming to be the China Beijing Equity Exchange, crashed in Nigeria, leaving an estimated 300,000 investors with losses of about ₦1.3 trillion (roughly $840 million). Investigations indicated that this was a Ponzi fraud, and the real amount lost might be substantially less, approximately $6.1 million.
Business Wire
6 hours ago
- Business Wire
Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Company to Announce Major Breakthrough of Its Bridge Strategy on August 16 in Pebble Beach
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or the 'Company'), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Co-CEO of FF. 'This is our 14th weekly update, and also the third monthly edition. This week, we witnessed a turning point in the global economy. Following the U.S. Congress passing its first federal crypto legislation—the 'Genius Act'—the SEC also launched a major new initiative called Project Crypto. In my opinion, this marks a significant acceleration of blockchain integration into the U.S. financial system. It signals that the U.S. is building the next generation of Web3 infrastructure, driving a full-scale convergence between Web2 and Web3. More importantly, it represents a major shift in the global landscape of technology and finance, and the beginning of the next wave of innovation. Today also marks my 100th day as Co-CEO. Before we get into the results of our '100-Day Renewal,' I'd like to give you a preview of something even more important, a major strategic upgrade: On August 16th, at Pebble Beach, we'll officially unveil and kick off the second chapter of our Bridge Strategy. This will not only be a major milestone in the evolution of our Bridge Strategy — and we expect that it will also open up a new growth curve for FF. In addition, our upcoming Q2 earnings call will mark the first time since listing that we present our five-year performance outlook. This reflects our strong confidence in the future and signals that FF has reached a new stage in both governance and operations. Over the past 100 days, we've rolled out an unprecedented 'Ten-Punch Combo' transformations, delivering a full-scale refreshment from S1 to S7. Both our business fundamentals and capital fundamentals have taken a major leap forward. This lays a solid foundation and confidence for our next round of strategic upgrades. When I took office, I set out three main goals — in business, finance, and capital. By now, most of their milestone KPIs for Q3 have not only been met but exceeded. Key results include: First, we fully reshaped the corporate culture, the iron-willed combat strength has returned. The Lion-Wolf culture and fearless execution is emerging across the company. This spirit was powerfully demonstrated in the June 29th and July 17th product launches. Second, we successfully unveiled the FX Super One against the stunning backdrop of the Los Angeles skyline. As a First-Class EAI-MPV, this revolutionary product once again led transformation and ignited the industry, driving dual accumulation of both user equity and brand equity. With over 10,000 pre-orders received, we've fully explored the viability and competitive edge of the Co-Creation Ecosystem Online Direct Sales Model — a three-engine approach driven by user acquisition, user co-creation, and user operations. Today, we also launched the global co-creation campaign 'Design Its Face. Define Its Soul,' inviting you to upload your creative designs for the Super EAI F.A.C.E. avatar, and to join us in co-creating both the product and the technology — to build your very own EAI Avatar. We warmly welcome your participation! Third, FX Super One has officially entered the trial production phase at our Hanford, California factory. We're now deep into process planning and validation — defining manufacturing processes and quality standards, while ramping up training for engineers and production teams. Meanwhile, construction at our Ras Al Khaimah facility in the UAE is picking up speed, positioning us to begin regional deliveries in the Middle East by year-end. Fourth, the FF and FX Bridge Strategy, bridging the U.S. and China automotive industries, has advanced from Girder Erection to Bridge Closure. We've received strong support from top-tier Chinese manufacturers and engaged with influential stakeholders within the U.S. government. This includes closed-door meetings with more than a dozen members of Congress as well as a mention by Donald Trump Jr on a Podcast. We believe the policy climate will continue to shift in our favor. Fifth, our cash flow has improved significantly. Core operating expenses have been meaningfully reduced, while our financial processes and system management have seen major upgrades. These advances will be clearly reflected in our upcoming Q2 earnings report. Sixth, our capital fundamentals have undergone a transformational shift, reigniting market confidence. Our market cap has nearly tripled, we've been added to the Russell 3000 Index, and institutional investors — including BlackRock and Vanguard — have increased their positions substantially. Our 'Battle Against Illegal Short Selling' has delivered initial success. This reflects our firm commitment to putting 'Stockholders First.' In parallel, our strategic partnership with HabitTrade marks the first step in building a forward-looking ecosystem that brings together EAI Mobility, Web3, blockchain technology, crypto, and stablecoins. These first 100 days are not the finish line — they're the launchpad. But they've shown us one undeniable truth: with the right direction, unwavering conviction, and all-out execution, we can rebuild trust and redefine value. To every investor, user, supplier, and partner who has backed FF, FX, and myself throughout this comeback — thank you. Your belief has been the light guiding us through the headwinds. And in every 100 days ahead, we'll move faster, deliver with greater substance, and deepen our co-creation — to honor the trust of our users, shareholders, and every fighter in the FF family.' ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS This press release includes 'forward looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Super One MPV, Super EAI F.A.C.E., and EAI Embodied AI Agent 6x4 architecture, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure necessary agreements to license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to secure necessary permits at its Hanford, CA production facility; the Company's ability to secure regulatory approvals for the proposed Super One front grill; the potential impact of tariff policy; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to cover future warranty claims; the Company's ability to use its 'at-the-market' program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.
