Ripple is back in the headlines, reportedly raising its acquisition offer for Circle, the issuer of USDC. Initial reports suggested Ripple offered between $4 billion and $5 billion, but the offer was rejected by Circle. Now, new sources claim Ripple has increased the bid to $20 billion — though no official confirmation has been made.
Pro-XRP lawyer John Deaton weighed in on the situation. He said that Circle filed its S-1 registration with the SEC on April 1, 2025, planning to go public on the New York Stock Exchange (NYSE) under the ticker “CRCL.” JPMorgan Chase and Citigroup are listed as the lead underwriters, with the IPO expected to launch this summer.
Circle filed its S-1 with the SEC on April 1, 2025, planning to list on the NYSE under the ticker “CRCL,” with JPMorgan Chase and Citigroup as lead underwriters. The IPO is expected this summer. Circle is aiming for a valuation between $4 billion and $5 billion for its IPO.… https://t.co/G8WijZzg9g
Circle is reportedly targeting a valuation between $4 billion and $5 billion, which aligns with Ripple’s initial offer. However, this is still significantly lower than the $9 billion valuation Circle had aimed for during a failed SPAC merger back in 2022.
Deaton suggests Circle rejected the $5B offer because it expects its post-IPO value to be higher, possibly close to or above that $9B mark. He also highlighted the regulatory shift in favor of crypto, with pro-crypto policies and the possible passing of the STABLE GENIUS Act, as signs that a $10B+ deal wouldn’t be unrealistic.
Adding another layer of speculation, Deaton questioned Ripple’s relationship with Coinbase, which already owns a minority stake in Circle. This raises the possibility of a bidding war between major crypto players.
As of now, both Ripple and Circle have not confirmed any details of ongoing acquisition talks.
In 2025, Brazil is shaping its regulatory landscape for cryptocurrencies as directed by the Brazilian Virtual Assets Law (BVAL). The law became effective in 2023, and it is currently focusing on ensuring transparency, preventing money laundering, and protecting consumers from fraudsters. Brazil has legalised cryptocurrencies like Bitcoin, but they are not considered legal tender.
The BVAL established taxation on cryptocurrency trading, which must be reported in the annual tax declaration. Brazil has embraced blockchain and cryptocurrency regulations, which have assisted millions of Brazilians in utilizing digital assets. Let’s explore the crypto regulations in Brazil that changed the topical landscape of digital assets in 2025.
June 30, 2025 – Central Bank Temporarily Ceases C&M Software
The Central Bank of Brazil immediately issued a notice to temporarily suspend C&M Software after discovering that hackers had stolen approximately $140 million (R$800 million).
June 17, 2025 – Introduction of Crypto Tracking Software
The National Secretariat of Public Security (SENASP) under Brazil’s Lula Government announced an initiative to track and monitor cryptocurrency transactions. The surveillance tool will be active on major blockchain networks, including Bitcoin, Ethereum, Tron, Binance, Dash, etc.
June 12, 2025 – Brazil’s Strategic Bitcoin Reserve Bill passes First Committee
Brazil’s strategic Bitcoin Reserve Bill 4501/2023 passed the first committee, pushing the country closer to holding $BTC as part of its national reserve. Bill Project No. 4,501 of 2024 “Provides for the formation of a Sovereign Strategic Reserve of Bitcoins by the Federal Government and other measures”, states the proposal of the bill.
June 12, 2025 – Crypto Tax
Under Provisional Measure 1303, a flat 17.5% tax now applies to all cryptocurrency gains, replacing the former progressive regime.
February 17, 2025 – Brazilian Superior Court of Justice (STJ) Subjects Crypto to Seizure in Enforcement Proceedings
The Superior Court of Justice in Brazil affirmed that Brazil’s lower courts subpoena crypto exchanges to trace and seize cryptocurrencies held by the debtor. This law was enacted after failing to identify a debtor’s traditional financial assets. It allows the courts to seize crypto assets potentially held by debtors.
Unfolding Crypto Regulation in Brazil 2025
Brazil has enacted foundational legislation and is moving toward detailed operational rules and licensing requirements for cryptocurrency in 2025. The procedure is to develop recent implementations and finalize them after thorough examinations. Some key developments in crypto regulations are:
The BVAL (Law no. 14,478/22) is the first crypto asset law in Brazil, which was implemented in June 2023. It redefines the crypto space in Brazil by defining ‘virtual asset service providers’ (VASPs) as a legal entity under the permitted conditions.
BVAL had accompanying laws to enhance the framework for cryptocurrency, which were set to be published in 2025 after public consultations to gather feedback, which ended in February 2025. The Central Bank is leading this development, offering detailed guidelines for consumers in crypto trading.
Brazil has enacted the licensing of crypto business, which requires registering as Digital Asset Service Providers (DASP) operating with the Central Bank of Brazil (BCB) authorization. The future regulations in this category are anticipated to be finalized in 2025.
After finalizing the new regulations in DASP, it will enhance consumer rights and mandate strong cybersecurity standards. In addition, it will require clear risk disclosures to prevent consumers from any tricks laid by the fraudsters.
After gaining a boost in stablecoin utility, further regulations involve ensuring transparency, anti-money laundering, and curbing tax evasion. It aims to bring a long-term stable market for crypto with KYC and AML requirements for users.
Binance kicks off the “Blockchain on the Road” tour in Brazil, partnering with Blockchain Rio to educate 2,300 students across 18 universities in 12 cities.
From São Paulo to Iguazu Falls, we’re spreading blockchain knowledge and driving adoption.
Binance has launched the ‘Blockchain on the road’ event, in which Brazil is likely to see a significant growth in blockchain education. The event will be held from 5 to 7 August 2025, focusing on education and networking leaders and entrepreneurs emerging in the technological and tokenization arena.
These are the major developments Brazil has made in cryptocurrency, compiled with global standards set by legal bodies.
Who Guides Crypto in Brazil?
Brazil’s crypto regulations are guided by international standards, particularly the Financial Action Task Force (FATF) recommendations. The FATF standards include the travel rule, which allows obtaining and transmitting information on both the originator and beneficiary in digital trading. It also sets rules for combating money laundering, terrorist financing, and proliferation financing.
The Central Bank of Brazil (BCB) handles the provision of Virtual Digital Assets in Brazil. It oversees the financial aspect, including licensing related to cryptocurrency. But it has not yet published specific rules for provision or compliance rules for crypto trading.
The Securities and Exchange Commission (CVM) plays a crucial role in regulating crypto, which is classified as a security. For example, if a digital token is classified as security, it must comply with CVM rules for issuance and distribution after registration.
These agencies applied taxation to crypto in Brazil, offering an enhanced and safer space for consumers and sellers.
Crypto License in Brazil in 2025
Brazil does not have a specific ‘crypto license’ as of 2025; however, entities providing crypto-related services must register with the Central Bank and comply with the framework established by Law No. 14.478/2022. The law came into effect on June 20, 2023.
Crypto Tax in Brazil
The Federal Revenue Services (RFB) has stated that blockchains like Bitcoin and Ethereum are required to be publicly visible. A Brazilian individual is required to report cryptocurrency profits and capital gains by the last working day of April.
Selling crypto or trading it for another crypto is subject to capital gains tax, while receiving cryptocurrency as payment is subject to income tax. RFB has not yet disclosed a guideline on stolen or lost crypto.
The previous progressive/tiered regime is replaced by this flat rate of 17.5% and the previous exemption for monthly gains under 35,000 reais has also been abolished.
A table is given below to assist calculation of crypto tax.
Category
Tax Rate
Details
All Capital Gains on Crypto
17.5%
Applies to all crypto-related capital gains, no matter the volume or origin.
Tax Exemption
None
All gains (big or small) are subject to tax
Tax Reporting
Must be repotted quarterly
Capital gains must be reported four times per year. All disposals must be declared for each quarter.
Summary of crypto tax in 2025:
Category
Threshold per month
Tax rate
Capital gains (domestic)
R$35,000
15%-22.5%
Capital gains (foreign exchange)
R$6000
0%022.5%
Income from crypto
Any amount
7.5%27.5%
Crypto Adoption Rate in Brazil 2025
Brazil’s crypto adoption rate is constantly growing in 2025, and presently it is projected to reach 31.9 million users. The user penetration rate is also expected to reach around 14.58% with a significant growing interest in cryptocurrency among Brazilians.
Brazil was one of the top 10 countries in the world with leading crypto adoption. It is believed that Brazil will skyrocket the crypto adoption rate with revenue of US$353.5 million by 2030. In addition, the compound annual growth will rise up to 16.5% in the cryptocurrency market from 2025-2030.
With new regulations and an enhanced framework, Brazil is the fastest-growing regional market in Latin America, with growing development in crypto assets. Presently, around 17.5% of the population has adopted crypto, and it is anticipated to rise further in the upcoming days.
Brazil Government Stance on Crypto
As of 2025, the Brazilian government has not disclosed a significant amount of crypto holdings. However, with growing user penetration in crypto among Brazilians, the estimated number seems to be sizable.
The Brazilian government has been highly active in developing crypto regulations, showing a positive attitude towards blockchain and other technological and digital assets. The country is likely to launch a “Real Digital”, Brazil’s central bank digital currency (CBDC).
In March 2025, the government representative and the executive branch held a discussion that involved the strategic value of Bitcoin. However, it does not confirm any actual holdings or reserve policy of cryptocurrency in the Brazilian government’s hands.
Conclusion
Brazil is one of the fastest-growing crypto markets in Latin America. The government plans to improve regulations and expand its crypto holdings. Although exact figures are unknown, recent developments suggest significant accumulation of digital assets. Brazil is expected to set new records and reach new highs in the crypto market.
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In 2025, Brazil is shaping its regulatory landscape for cryptocurrencies as directed by the Brazilian Virtual Assets Law (BVAL). The law became effective in 2023, and it is currently focusing on ensuring transparency, preventing money laundering, and protecting consumers from fraudsters. Brazil has legalised cryptocurrencies like Bitcoin, but they are not considered legal tender. The …
Robinhood Markets reported its first quarter (Q1) earnings on Wednesday, revealing commendable growth over the past several months.
The development adds to Robinhood’s list of bullish developments this year after the US SEC (Securities and Exchange Commission) dropped its probe against the online brokerage platform.
Robinhood Records 100% Q1 Crypto Revenue Growth
Robinhood Markets reported its Q1 earnings on Wednesday, April 30, detailing its financial results for the first quarter of 2025. The platform’s CEO and co-founder, Vlad Tenev, and CFO Jason Warnick led the broadcast, which was shared on X (Twitter) and YouTube.
While Tenev and Warnick had much to say about the brokerage platform’s performance in Q1 2025, the highlight was its crypto revenue between January and April.
Reportedly, crypto revenues doubled to $252 million, marking a 100% increase year-over-year (YoY). In the same tone, crypto trading volumes hit $46 billion, up by 28% YoY.
These are notable feats given fierce competition from centralized exchanges like Binance and Coinbase.
“We began the year strong with 50% YoY revenue growth and 106% EPS growth, alongside disciplined expense management. We’re also returning capital aggressively with expanded share repurchases, signaling confidence in our long-term growth,” said Warnick.
Perhaps the recent move by the US SEC to drop its probe into Robinhood exacerbated the financial traction. Despite its May 2024 Wells Notice against the platform, the securities regulator concluded the investigation without penalties.
Robinhood Shares Strategic and Operational Highlights
Beyond financial traction, Robinhood’s Q1 earnings revealed accelerated product innovation on different paradigms, including Robinhood Strategies, Banking, and Cortex. According to Tenev, customers warmed up to the platform’s offerings, adding credence to the platform’s notable Q1 revenues.
“…customers responded with record-breaking net deposits, Gold subscriptions, and trading volume across all asset classes,” Tenev stated.
Among the innovations presented, comprising strategic and operational highlights, is a Bitstamp acquisition in the pipeline, expected to close mid-2025. BeInCrypto recently reported details of the acquisition, citing a $200 million deal.
The acquisition comes as Robinhood looks to enhance its crypto services. Bitstamp brings over 50 active licenses and registrations worldwide. With this, Robinhood will integrate a reputable institutional business into its ecosystem.
Beyond the Bitstamp acquisition, Robinhood is also working on global expansion into the UK and EU, positioning itself as a fierce competitor in the crypto space.
Robinhood is also innovating with prediction markets like Kalshi and advanced trader tools, tapping into the growing demand for diverse crypto offerings. Its prediction market has reportedly traded over 1 billion event contracts in six months.
With 25.8 million funded customers and $221 billion in platform assets, Robinhood is becoming a go-to financial hub for crypto-savvy users.
Despite the bullish developments, Robinhood’s HOOD token has only increased by a modest 1% in the last 24 hours. As of this writing, it traded for $0.00003370 on the MEXC exchange against the USDT stablecoin.
Hedera (HBAR) has fallen over 6% in the last seven days as key indicators point to shifting momentum. After 10 days of bullish strength, the BBTrend has turned negative at -3.35, suggesting growing downside risk.
Meanwhile, the RSI has rebounded to 49.82 but remains below the critical 50 mark, signaling indecision. With HBAR trading in a tight range between $0.1849 and $0.189, a breakout in either direction could define the next trend.
HBAR BBTrend Turns Negative After 10-Day Run
Hedera’s BBTrend has just flipped negative after holding above zero for 10 consecutive days, suggesting a potential shift in momentum.
Currently, the BBTrend stands at -3.35, a sharp contrast from the bullish tone seen earlier this month. This reversal occurred two days ago and may reflect weakening upward pressure on HBAR’s price.
After showing consistent strength, the recent change raises caution among traders watching for early signs of a downtrend.
BBTrend, or Bollinger Band Trend, is a momentum indicator that measures price distance and direction relative to the Bollinger Bands.
When the BBTrend is above zero, it typically reflects strong bullish momentum, indicating the price is pushing toward or staying near the upper band. When it moves below zero, as it has now for HBAR, it often suggests growing bearish sentiment, with the price leaning toward the lower band.
A reading like -3.35 points to increased volatility and the potential for further downside, especially if other indicators begin aligning with this weakening signal.
Hedera RSI Rebounds but Stays Below Key Bullish Zone
Hedera’s RSI is currently at 49.82, rebounding from 42.45 yesterday after briefly touching 54 earlier in the session. This bounce suggests some recovery in buying interest, but the RSI remains below the key 50 threshold.
The recent movement indicates a tug-of-war between bulls and bears, with no clear dominance yet.
After sliding earlier in the week, this slight uptick could reflect a potential shift toward stabilization.
The Relative Strength Index (RSI) is a momentum oscillator that ranges from 0 to 100, used to assess overbought and oversold conditions.
Readings above 70 typically indicate an asset is overbought and may be due for a correction, while values below 30 suggest oversold conditions and a possible rebound. Levels between 30 and 70 are considered neutral, with 50 as a pivot point.
HBAR’s current RSI of 49.82 places it right on that line, signaling indecision, though the recent rise hints that momentum could tilt bullish if it breaks above 50 and holds.
Hedera Consolidates—Will Bulls or Bears Take Control?
Hedera price is trading in a tight range between resistance at $0.189 and support at $0.1849, with other key levels close by. If the $0.189 resistance breaks, it could open the door for a move toward $0.199 and $0.202.
A sustained uptrend could push HBAR to retest the $0.258 level, marking a significant bullish breakout.
For now, price action remains cautious as the market waits for a decisive move.
On the downside, if the $0.1849 support is broken, HBAR may fall toward $0.175 and $0.16.
A deeper downtrend could drag it as low as $0.124, erasing much of its recent gains. These levels represent critical turning points, and traders will watch closely for volume spikes or momentum shifts.
Until then, Hedera remains in consolidation, with pressure building on both sides.
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