Italy’s Largest Bank Buys Bitcoin, Ripple Teams with Cardano for DeFi

Crypto markets buzz as Italy’s top bank dives into Bitcoin, Ripple donates generously, and JPMorgan forecasts XRP and Solana ETF windfalls.

By Tylt Editorial Team

Jan 17, 2025

Jan 17, 2025

Italy’s Largest Bank Buys Bitcoin, Ripple Teams with Cardano for DeFi
Italy’s Largest Bank Buys Bitcoin, Ripple Teams with Cardano for DeFi
Italy’s Largest Bank Buys Bitcoin, Ripple Teams with Cardano for DeFi

Italy's largest bank invests $1M in Bitcoin, marking its crypto debut.

Ripple collaborates with Cardano, donating $100K XRP to fire victims.

JPMorgan predicts $14B potential influx into XRP and Solana ETFs.

This week saw major developments across the crypto landscape, starting with Italy’s largest bank stepping into the cryptocurrency world by purchasing $1 million worth of Bitcoin. This marks a pivotal moment for the European financial sector, showcasing a growing institutional interest in crypto assets. The bank’s investment of 11 BTC signals a shift in traditional banking attitudes toward digital assets.

Meanwhile, Ripple continues to make waves with its XRP token. The company recently donated $100,000 in XRP to aid California fire victims, facilitated through The Giving Block. Additionally, Ripple and Moonpay made another donation, this time using Ripple’s new stablecoin, RLUSD. The partnership highlights Ripple’s growing focus on charitable initiatives via blockchain technology.

In another headline-grabbing event, Republican Congressman Guy Reschenthaler became the first U.S. politician to disclose an investment in XRP, alongside Bitcoin and Solana. This underscores the increasing acceptance of cryptocurrencies among political figures and policy influencers.

JPMorgan's latest predictions about ETFs for XRP and Solana have also stirred excitement. If approved, these ETFs could bring in $14 billion within a year, representing 3-6% of their current market caps. Such an influx would significantly bolster the market potential of these assets, with Solana’s market cap standing at $90.5 billion and XRP’s at $146.5 billion.

On the DeFi front, Ripple is exploring a potential partnership with Cardano. Cardano founder Charles Hoskinson confirmed discussions to integrate RLUSD into Cardano’s DeFi ecosystem. This move would enhance Cardano’s DeFi capabilities and Ripple’s quest for broader adoption.

Veteran trader Peter Brandt softened his critique of XRP, signaling a more positive sentiment toward the token while cautioning investors against panicking over market volatility.

Elsewhere, Robinhood faced a $45 million SEC settlement over trading violations and cybersecurity issues, despite a substantial Q3 trading volume of $14.4 billion.

Globally, the TON blockchain announced plans for U.S. expansion, aligning with anticipated crypto-friendly policies under President-elect Donald Trump. His administration is expected to prioritize executive orders to address crypto-related challenges, including de-banking and strategic Bitcoin reserves, potentially heralding a “crypto golden age” for the U.S.

As these stories unfold, the crypto market remains dynamic, offering significant opportunities for investors and developers alike.

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