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Binomial Introduces First U.S. XRP Futures Post SEC Dismissal of Ripple Lawsuit
Date: 2025-03-19 17:06:56 | By Percy Gladstone
Bitnomial Debuts XRP Futures Contract Amid Ripple Case Progress
Cryptocurrency derivatives platform Bitnomial has introduced its XRP futures contract following recent advancements in the Ripple case.
Ripple's CEO, Brad Garlinghouse, declared on March 19, 2025, that the U.S. Securities and Exchange Commission (SEC) had abandoned its appeal in the lawsuit against Ripple.
In response, Bitnomial announced it was also abandoning its lawsuit against the SEC.
Furthermore, the cryptocurrency derivatives exchange announced the launch of its XRP (XRP) futures contract, the same product that sparked the lawsuit against the SEC under Gary Gensler's leadership.
With new management at the SEC and a pro-cryptocurrency stance under President Donald Trump, Bitnomial is proceeding with its product launch.
In its statement, Bitnomial revealed that it had "voluntarily withdrawn" its lawsuit against the regulator. This initial lawsuit was filed in October 2024 after the SEC asserted jurisdiction over the proposed XRP futures product.
According to Bitnomial, the XRP futures contract will be available this Thursday, with approval from the Commodity Futures Trading Commission (CFTC).
"Bitnomial is debuting the first-ever CFTC-regulated $XRP futures in the U.S. — physically settled for real market impact. Plus, we’ve voluntarily dismissed our case against the SEC as regulatory clarity improves," the exchange stated in an X post.
According to Bitnomial, current clients will have access to the XRP futures contracts starting March 20, 2025. Meanwhile, prospective clients will have the chance to join forces with one of the crypto derivatives exchange's futures commission merchant partners.
Futures commission merchant (FCM) partners are entities that aid investors in buying and selling futures contracts. For Bitnomial, they include Bitnomial Clearing, an affiliated futures commission merchant of the exchange.
Following Ripple's announcement, the XRP price saw a significant increase and may continue to rise with further optimistic forecasts.
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