Search results for Piper Sandler
Crypto
Fed raises policy rate by 25 bps; what does it mean for bitcoin?
The U.S. Federal Reserve raised its benchmark interest rate by 0.25 percentage point, the first hike since 2023, lifting the target range for the federal funds rate to 3.75 to 4.00 percent. The move largely matched expectations and won unanimous support from all 12 FOMC members. Crypto markets fell about 2.18 percent on the day. Bitcoin briefly rose near $75,900 before slipping back toward $75,100, while holding a closely watched support zone.
Crypto
Ripple Prime raises $275 million; XRP reserves key credit factor
Ripple’s institutional finance unit Ripple Prime raised $275 million by issuing senior unsecured notes to fund U.S. business expansion. The notes’ credit quality is seen as still relying heavily on parent Ripple’s ability to provide financial support and its XRP holdings. KBRA assigned a BBB rating with a stable outlook and cited Ripple’s potential support if cash movement from the operating unit is constrained. Public materials do not confirm a parent guarantee or XRP collateral.
Crypto
XRP whales accumulate 642 million near $1 on hopes for U.S. SEC easing
Large XRP holders accumulated more than 642 million XRP near the psychological support level of $1 as the U.S. Securities and Exchange Commission proposed measures to ease token fundraising rules. XRP traded around $1.0052 as broader crypto markets stabilised after last week’s drop. Big wallets increased holdings through additional purchases in early and mid-August, while large-value XRPL transactions surged. Ripple also raised funds via a private bond sale and reported diverging RLUSD burn trends across chains.
