Ripple發布了最終的XRP市場報告，標誌著時代的終結

Ripple的最終版本的XRP市場報告發佈於第1季度2025年，標誌著時代的終結。自2017年以來，該報告一直是加密行業透明度的燈塔。

After four years and sixty final editions, Ripple’s XRP Markets Report is coming to an end.

經過四年零60次的最終版本，Ripple的XRP市場報告即將結束。

The report, which began in 2017, will conclude with its last installment for Q1 2025. The report, published on a quarterly basis, has served as a key source of transparency in an industry often shrouded in secrecy.

該報告始於2017年，將於第1季度2025年的最後一期結束。該報告每季度發表，已成為經常屬於保密的行業的關鍵透明度來源。

However, Ripple announced that it will no longer continue the report in its current form starting Q2 2025. The move follows years of scrutiny, which saw Ripple’s openness being weaponized by former SEC leadership.

但是，Ripple宣布將不再以目前的形式開始報告，從第2225季開始。此舉是在經過多年的審查之後，這使Ripple的開放性被前SEC領導層武器化。

While the formal report concludes, Ripple confirmed that it will continue sharing updates through its corporate and developer communication channels. Additionally, Ripple will maintain the rolling total of its XRP holdings in a readily accessible location online for public viewing.

儘管正式報告得出結論，但Ripple確認它將繼續通過其公司和開發人員溝通渠道共享更新。此外，Ripple將在在線易於訪問的位置進行公眾觀看的位置，將其XRP控股的總滾動總額維護。

This shift in strategy comes at a time of renewed momentum for the XRP ecosystem.

策略的這種轉變是在XRP生態系統新勢頭的時刻發生的。

As the dust settles on Ripple’s decisive victory over the SEC, the first quarter of 2025 marks a turning point in the U.S. crypto landscape.

隨著塵埃落定為Ripple擊敗SEC的決定性勝利時，2025年第一季度標誌著美國加密貨幣景觀的轉折點。

With the SEC now poised to approve or reject the agency’s appeal in the case, both parties have agreed to reduce the financial penalty and vacate earlier injunctions.

由於SEC現在準備批准或拒絕該機構在案件中的上訴，雙方都同意減少罰款並撤消更早的禁令。

However, the broader regulatory shift under the new U.S. administration looms large. After the finalization of the administration’s actions and the SEC Commission’s vote on the appeal become clear, the next stage of this saga will unfold.

但是，新美國政府下的更廣泛的監管轉變隱約可見。在完成政府的行動和SEC委員會對上訴的投票之後，該傳奇的下一個階段將展開。

Key policy actions throughout the quarter saw the complete repeal of the controversial SAB 121 rule, setting the stage for broader accounting changes that institutions have been preparing for.

在整個季度中，關鍵的政策行動完全廢除了有爭議的SAB 121規則，為機構一直在準備的更廣泛的會計變更奠定了基礎。

Furthermore, the Office of the Comptroller of the Currency provided new guidance to national banks and federal savings associations on crypto custody, expanding their capabilities.

此外，該貨幣審計長辦公室為國家銀行和聯邦儲蓄協會提供了新的指導，從而擴大了其能力。

Additionally, the Federal Deposit Insurance Corporation (FDIC) revised its guidance, opening new avenues for greater institutional involvement in crypto.

此外，聯邦存款保險公司（FDIC）修改了其指導，為加密貨幣的機構參與開放了新的途徑。

Bipartisan momentum towards legislation on stablecoins brought forth an updated version of the bipartisan "Stablecoin TEAP Act," aiming to streamline the regulation of stablecoins.

兩黨朝著對Stablecoins立法的勢頭提出了兩黨“ Stablecoin Teap Act”的更新版本，旨在簡化穩定的法規。

This development follows a period of heightened scrutiny on the SEC’s actions in crypto cases.

這一發展是對SEC在加密訴訟案件中對SEC的行為進行了一段時間的審查。

After a series of administrative law judges (ALJs) rulings against the SEC and the agency’s withdrawal from several cases, the agency is now poised to make crucial decisions on several pending cases.

在針對SEC的一系列行政法官（ALJ）裁決以及該機構從幾個案件中撤回的裁決後，該機構現在有望就幾個懸而未決的案件做出重要的決定。

Among them is the case against crypto exchange Gemini, which reportedly reached a settlement in March, paving the way for the SEC to pursue a broader case against crypto exchanges.

其中包括針對加密貨幣交易所雙子座的情況，據報導3月達成和解，為SEC鋪平了對加密交流的更廣泛案件的道路。

The SEC is also expected to decide on the administrative law judge’s ruling in December 2024, which found that Coinbase violated federal securities law.

預計SEC還將決定2024年12月的行政法法官裁決，發現Coinbase違反了聯邦證券法。

Despite macroeconomic headwinds and tariff-driven volatility that impacted global markets in early February, causing both Bitcoin and Ethereum to experience triple-digit percentage losses, XRP managed to rise nearly 50%.

儘管宏觀經濟的逆風和關稅驅動的波動率在2月初影響了全球市場，從而導致比特幣和以太坊遭受三位數損失的損失，但XRP還是設法上漲了近50％。

This resilience enticed institutional investors as Franklin Templeton filed for a U.S.-based spot XRP ETF, converging on the burgeoning market that saw record inflows in 2024.

富蘭克林·鄧普頓（Franklin Templeton）為美國的現場XRP ETF申請，這種韌性吸引了機構投資者，並在迅速發展的市場上匯聚了2024年創紀錄的流入。

In another significant development, CME Group announced the introduction of standard bitcoin futures contracts on its flagship futures exchange.

在另一個重大的發展中，CME集團宣佈在其旗艦期貨交易所引入標準比特幣期貨合約。

Brazil’s securities regulator, CVM, greenlit the registration of a new ETF focused specifically on Ripple (NYSE:RPL).

巴西的證券調節器CVM，GreenLit greenlit是專門針對Ripple（NYSE：RPL）的新ETF的註冊。

Collectively, these coin investment products, which include ETFs, ETNs, and BTC investment trusts, enticed investors with $37.7 million in fresh inflows during the first quarter.

這些硬幣投資產品（包括ETF，ETN和BTC Investment Trusts）總的來說，在第一季度吸引了3770萬美元的新鮮流入。

This contribution brought the yearly total to $214 million by the end of March, positioning it as the second-most popular asset class among European investors in 2024. Only U.S. equities attracted larger sums.

到3月底，這項貢獻使年度總計達到2.14億美元，將其定位為2024年歐洲投資者中的第二大流行資產類別。只有美國股票才吸引了更大的款項。

Moreover, these figures indicate that investors are increasingly turning to cryptocurrencies as a hedge against inflation and macroeconomic uncertainty.

此外，這些數字表明，投資者越來越多地轉向加密貨幣，以此作為抵制通貨膨脹和宏觀經濟不確定性的對沖。