The U.S. Federal Reserve kept interest rates steady at 4.50%, fueling market speculation.

Ripple secured a win as the SEC officially dropped its lawsuit against XRP.

The U.S. Federal Reserve kept interest rates steady at 4.50%, fueling market speculation as the macroeconomic outlook remains clouded by inflation and employment data.

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple came to an end, with the SEC dropping its lawsuit against the crypto firm and its token, XRP.

Canary Capital filed for a SUI ETF, showcasing increased institutional interest in crypto assets during this period.

The crypto market is heating up as we approach the mid-year mark, with several major happenings unfolding this week. From the Federal Reserve's decision on interest rates to Ripple's legal victory over the SEC and the launch of a spot SUI ETF, the market saw activity in regulatory measures, ETF filings, and institutional activity.

Highlighting the impact of government policies and the anticipation of new products and services, this analysis delves into the implications of these events on investor sentiment and market trends.

The U.S. Federal Reserve opted to keep interest rates at the current range of 4.25% to 4.5%, continuing its dovish stance against macroeconomic uncertainty.

The Fed is closely monitoring inflation and employment data to guide its future monetary policy decisions.

"We estimate that a rate cut by April 1 would spur BTC to rally toward $150K," BitMex CEO Arthur Hayes stated in a blog post, offering his analysis of the Bitcoin price movements in relation to interest rates and macroeconomic trends.

The Bank of Japan also kept its rates at 0.50%, while the European Central Bank's Francois Villeroy expressed concerns that the U.S.'s growing crypto-friendly stance might ultimately lead to a financial crisis.

Highlighting the global macroeconomic landscape and its potential impact on the crypto market, Villeroy stated that the U.S. is setting a course for a "controlled implosion" of the financial system with its handling of the banking crisis and crypto regulations.

In a move that signals the culmination of a protracted legal dispute and has broad implications for the crypto industry, the SEC officially dropped its lawsuit against Ripple and its token, XRP.

After a two-year battle in court, which began in December 2020 with the SEC’s suit claiming that Ripple had sold unregistered securities, the legal case has finally come to an end.

Confirming the development, Ripple CEO Brad Garlinghouse stated that the U.S. SEC has dropped its lawsuit against Ripple and they are pleased with the outcome.

The development was met with enthusiasm by the Ripple community, viewing it as a sign of easing regulatory pressure and a positive step during the Trump administration.

Despite a 7% weekly decline, XRP closed above the $2 mark, showcasing that market confidence in the token remains strong.

Highlighting the next steps in this legal saga, Ripple’s Chief Legal Officer Stuart Alderoty explained that the SEC has withdrawn its appeal of the court’s decision to strike its third-party complaint.

Canary Capital applied for a SUI ETF, showcasing increased institutional interest in crypto assets during this period.

North Carolina passed a bill allowing the state treasurer to invest up to 10% of the state’s treasury assets in Bitcoin.

The state senate passed the bill, which now heads to the governor's desk for final approval.

Optimism brews as the U.S. moves closer to approving a spot Bitcoin ETF, with Blockchained Capital also filing for a BTC ETF.

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple came to an end, with the SEC dropping its lawsuit against the crypto firm and its token, XRP.

The saga began in December 2020 when the SEC sued Ripple, alleging that the company had sold unregistered securities to raise $7.8 billion through a token offering.

The SEC's case rested on its claim that XRP should be classified as a security, a determination that carries significant implications for the broader crypto sector. A loss for the SEC could hinder its efforts to regulate the rapidly evolving digital asset market.

The development comes as the U.S. moves closer to approving a spot Bitcoin ETF, with Blockchained Capital also filing for a BTC ETF.

Optimism is brewing as the legal battle between the U.S.