Today in crypto: FTX repayments start, XRP fund hopes grow

FTX begins repayments but Bitcoin holders lose out

Collapsed crypto exchange FTX has started repaying customers, marking the first step in a long-awaited process. On Tuesday, the bankruptcy estate released $1.2 billion to customers owed less than $50,000, with most payments expected within one to three business days. More payments are planned for the second quarter.

However, many customers will only recover part of their losses. Bitcoin holders are particularly affected because repayments are based on Bitcoin’s value in November 2022—about $20,000—rather than its current price of about $96,000.

Meanwhile, Solana (SOL), another cryptocurrency linked to FTX, could face price pressure. On March 1, 11.2 million SOL tokens—worth about $1.9 billion—are set to become available. If these tokens enter the market at once, the increased supply could push prices down.

XRP ETF could make crypto investing easier

The U.S. Securities and Exchange Commission (SEC) is reviewing a proposal for a spot XRP exchange-traded fund (ETF). If approved, the ETF would let investors buy XRP through regular stock markets, making it easier to invest without needing a crypto wallet.

The SEC will open a 21-day public comment period before making a final decision within 240 days. Analysts estimate a 65% chance of approval, though experts warn that XRP’s volatility could pose risks for investors.

Robinhood expands crypto services to Asia

Robinhood is expanding its cryptocurrency services to Singapore, a key financial hub in Asia. The move follows the company’s $200 million purchase of European crypto exchange Bitstamp in 2024.

Robinhood plans to launch its services in Singapore by 2025, using Bitstamp’s existing licenses. The expansion reflects growing confidence in Asia’s crypto market and could help connect investors from the U.S. and Asia.

Calls grow for U.S. gold audit at Fort Knox

Public interest in U.S. gold reserves is rising, with calls for an audit at Fort Knox. Senator Rand Paul requested the audit on February 16, while commentator Glenn Beck wants permission to film the process. Fort Knox reportedly holds 4,600 tons of gold worth about $430 billion, but the last official audit was in 1974.

Gold prices have hit record highs above $2,940, with Goldman Sachs predicting they could reach $3,100 by the end of the year.

Crypto markets see mixed results

The crypto markets showed mixed performance over the past 24 hours. Among major cryptocurrencies, Aptos led with a 13.3% price surge, while Ethereum Classic gained 3.6%.

In decentralized finance (DeFi), Maker rose 5.9%, but Lido DAO fell 4.3%. Exchange tokens like Bitget dropped 4.5%, reflecting concerns about centralized exchanges.

In the artificial intelligence sector, Bit Sensor gained 9.1%, while Mantle slipped 2.5%. These trends suggest investors are focusing more on cryptocurrencies with real-world uses and long-term growth potential.