by | Mar 21, 2025 | Business
Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023.
Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. This growth was primarily driven by rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market, and the successful launch of its Retail Electricity Supply (RES) unit. Furthermore, the company’s performance last year reflects the value of ACR’s strategic initiatives and investments and its continued commitment to expanding its presence in the energy sector while capitalizing on market dynamics.
“In the first quarter of 2024, we faced disruptions caused by the 2023 Mindanao earthquake. Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.
Sagun attributed ACR’s financial growth to the continued performance of the 237-Megawatt Sarangani Energy Corporation, which remains one of the most cost-efficient baseload power sources in Mindanao. Additionally, the implementation of the ancillary services agreements for Western Mindanao Power Corporation in Zamboanga and Mapalad Power Corporation in Iligan played a vital role in bolstering the company’s earnings.
“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio,” Sagun added.
In 2024, ACR achieved key milestones, including the completion and operational launch of its first renewable power plant—the 14.5-MW Siguil Hydropower Plant in Sarangani. The company’s new RES unit has also gained momentum, securing major clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.
“We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development. This year, we are targeting to launch our first large-scale solar power project in Mindanao, marking a significant milestone in our sustainability strategy,” Sagun concluded.
by | Mar 20, 2025 | Business
Ripple secures a major legal victory as the SEC drops its appeal, boosting XRP’s legitimacy and market confidence. Celebrate with Bitrue’s exclusive XRP staking pool, offering up to 20% APY for new users and 5% APY for existing holders. Don’t miss this opportunity to maximize your XRP earnings!
Ripple Labs has emerged victorious in its prolonged legal battle against the U.S. Securities and Exchange Commission (SEC), marking a significant moment for both the company and the broader cryptocurrency industry.
Ripple CEO Brad Garlinghouse confirmed on March 19 that the SEC had officially decided to drop its appeal, bringing an end to the four-year-long dispute.
A Long-Awaited Win for Ripple and Crypto
Garlinghouse announced the news in a video posted on his X account, stating, “I’m finally able to announce that this case has ended. It’s over. Today is a victory and a long-overdue surrender from the SEC.”
The lawsuit, which began in December 2020, accused Ripple of raising $1.3 billion through unregistered XRP sales.
However, after years of litigation, Ripple secured a crucial legal win in August 2024 when a federal New York judge ruled that XRP’s “programmatic sales” on secondary markets did not constitute securities transactions.
While the court upheld a $125 million penalty for institutional sales, this amount was significantly lower than the SEC’s initial demand of nearly $2 billion.
SEC’s Shift in Stance
Although the SEC has yet to make a formal announcement, sources indicate that the decision to drop the appeal is subject to an internal Commission vote and approval.
A Ripple spokesperson noted that the official withdrawal of the case could take “several weeks” and remains under the SEC’s control.
The legal battle had been closely watched, as a victory for the SEC could have had far-reaching consequences for the classification of cryptocurrencies as securities versus commodities.
However, the regulatory landscape shifted significantly following the 2024 U.S. elections and the subsequent departure of former SEC Chair Gary Gensler.
Under the leadership of Acting Chair Mark Uyeda, the agency has taken a less aggressive stance toward the crypto industry, dropping enforcement actions against major exchanges such as Coinbase and Kraken.
Ripple’s Legal Standing Strengthened
Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized the importance of this victory, stating, “With the SEC dropping its appeal, Ripple is now in the driver’s seat, and we’ll evaluate how best to pursue our cross-appeal. Regardless, today is a day to celebrate this victory.”
The ruling also strengthens Ripple’s position within the cryptocurrency space, reinforcing the legitimacy of digital assets and setting a legal precedent that could influence future regulatory frameworks.
Reports suggest that the SEC’s new leadership may even consider classifying XRP as a commodity rather than a security, which could redefine digital asset regulations in the U.S.
XRP Price Surge and Market Reaction
Following the announcement, XRP surged by over 8.37%, reaching a high of $2.5073, according to Bitrue data. The token has already gained more than 200% in recent months, solidifying its status as one of the best-performing digital assets.
The news of the SEC’s withdrawal has also sparked excitement across the crypto community, with industry experts viewing it as a crucial step toward clearer and more favorable regulations for blockchain innovations.
Bitrue’s XRP Staking Pool Offers High Returns
With the renewed optimism surrounding XRP, crypto investors have sought ways to maximize their holdings. One notable opportunity is Bitrue’s XRP staking pool, which offers attractive annual percentage yields (APY) for XRP holders.
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- XRP investment in Power Piggy, providing a baseline rate of 1.2% APR, which can be boosted up to 1.4% for BTR holders, with no lockup period and daily interest payouts.
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XRP can be used as collateral in Bitrue’s Loans service, providing additional flexibility for investors.
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XRP purchases are available through various payment options, including USD, GBP, and Euros.
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Bitrue’s staking pool provides an excellent way for XRP investors to earn passive income while benefiting from the token’s bullish momentum.
Conclusion: A New Era for Crypto Regulation
The conclusion of the Ripple case represents more than just a legal victory—it signifies the end of an era where regulatory uncertainty hindered innovation and investment in the cryptocurrency space.
With Ripple’s victory setting a precedent, the industry has a clearer foundation for growth, increased investment, and broader adoption of blockchain technology worldwide.
As the legal dust settles, Ripple and the XRP community celebrate not just a win for themselves but for the entire crypto industry, paving the way for a more transparent and innovation-friendly regulatory environment.
by | Mar 20, 2025 | Business
XRP surges nearly 10% as the SEC drops its lawsuit against Ripple, marking a major win for crypto. Discover how regulatory shifts and political changes are shaping XRP’s future, potential ETF approvals, and market growth. Stay updated on the latest XRP news!
The cryptocurrency world witnessed a significant development on Wednesday as the U.S. Securities and Exchange Commission (SEC) decided to drop its long-running lawsuit against Ripple, the company closely associated with the digital asset XRP.
The announcement, made by Ripple CEO Brad Garlinghouse, sent XRP’s price soaring by 10%, reaching a high of $2.55 before settling slightly lower at $2.49.
A Long-Awaited Victory for Ripple and the Crypto Industry
In a video posted on X, Garlinghouse expressed relief and triumph over the conclusion of the legal battle. “It’s over,” he declared, emphasizing that the nearly four-year legal dispute had been a painful but necessary journey to establish legal clarity for the crypto industry.
The SEC initially sued Ripple in December 2020, accusing the company of selling XRP as an unregistered security.
This legal battle became one of the most consequential cases for the crypto industry, as it had far-reaching implications on how cryptocurrencies would be classified and regulated in the U.S.
In a partial victory for Ripple, U.S. District Judge Analisa Torres ruled in 2023 that while Ripple had violated securities laws in its institutional sales, its programmatic sales to retail investors did not constitute an unregistered security offering.
The SEC appealed this ruling in 2024, but its decision to drop the appeal marks the final chapter of the case.
Political Shifts and SEC’s Changing Stance on Crypto
The SEC’s decision to abandon its appeal is part of a broader shift in regulatory oversight following President Donald Trump’s return to office in 2025.
Under former SEC Chair Gary Gensler, appointed by President Joe Biden, the agency aggressively pursued lawsuits against major crypto firms such as Coinbase, Kraken, and Gemini.
Gensler asserted that most cryptocurrencies were unregistered securities and required strict regulatory compliance.
However, following Trump’s victory, the SEC has taken a markedly different approach. Mark Uyeda, a conservative SEC commissioner, took over as acting chair and initiated a restructuring of the agency’s crypto enforcement division.
Pro-crypto Commissioner Hester Peirce has since led efforts to establish a more industry-friendly regulatory framework. As part of this shift, the SEC has dropped lawsuits and investigations into major crypto entities, including Binance, Kraken, Yuga Labs, and Ripple.
The Impact on XRP and the Crypto Market
The SEC’s withdrawal of the Ripple case has significantly impacted XRP, which surged 8.63% on Thursday afternoon.
This price spike is part of a broader trend, with CNBC recently naming XRP “the biggest winner” in the post-election economy. Since Trump’s victory, the coin’s value has skyrocketed by 400%.
Despite this rally, the overall crypto market has faced downward pressure in recent months.
Bitcoin briefly rose above $85,000 following the announcement before experiencing a slight dip. Nonetheless, XRP remains a standout performer, reflecting growing investor confidence in Ripple’s future.
Ripple’s Political Contributions and Future Prospects
Ripple and its executives have actively engaged in political lobbying, contributing over $70 million to the pro-crypto Fairshake super PAC and over $5 million to Trump’s inaugural fund.
These strategic donations underscore the increasing intersection of cryptocurrency and politics, with industry leaders pushing for favorable regulations.
With the SEC lawsuit now behind it, Ripple’s future appears promising. Speculation is mounting about the approval of an XRP exchange-traded fund (ETF), which could further legitimize the asset and drive adoption.
Major investment firms like Grayscale, Bitwise, and Franklin Templeton have already filed for such an ETF, with Bloomberg analysts estimating a 65-75% chance of approval by year-end.
A New Era for Crypto Regulation
The SEC’s recent policy shift signals a new era for crypto regulation in the U.S. The agency has abandoned its 2022 proposal requiring certain crypto firms to register as alternative trading systems, a move that would have imposed stricter oversight.
Additionally, it has initiated a crypto task force to work on defining digital asset classifications and establishing clear regulatory guidelines.
“The system just feels broken,” Garlinghouse said at the Digital Assets Summit in New York. “We had to fight this fight for the industry while the SEC attacked us. There were no victims, no investor losses. They were just not acting in good faith.”
As the SEC takes a more collaborative approach under the new administration, crypto firms are optimistic about regulatory clarity and market growth.
The industry now looks ahead to further developments, including potential ETF approvals and expanded use cases for blockchain technology.
Conclusion
Ripple’s legal victory marks a significant turning point for both the company and the broader crypto industry. As regulatory winds shift in favor of digital assets, XRP’s resurgence highlights investor optimism and the potential for increased adoption.
While uncertainties remain, one thing is clear—Ripple has emerged stronger from this battle, setting a precedent for the future of cryptocurrency regulation in the United States.
by | Mar 20, 2025 | Business
Ripple secures a major legal victory as the SEC drops its appeal, reinforcing XRP’s legitimacy and fueling market optimism. Could this lead to an XRP spot ETF and further price gains? Stay updated on Ripple’s next moves and the evolving crypto landscape.
The long-standing legal battle between Ripple vs the U.S. Securities and Exchange Commission (SEC) took a dramatic turn on March 19, 2025, when the SEC announced it was withdrawing its appeal against Ripple.
This development marks a significant victory not only for Ripple but for the broader cryptocurrency industry, signaling a shift in regulatory oversight under the new U.S. administration.
SEC Drops Appeal, Ripple Gains Upper Hand
Ripple CEO Brad Garlinghouse shared the news on X, calling it “the moment we’ve been waiting for,” while Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the company is now in the driver’s seat.
This decision confirms that XRP is not a security and that programmatic sales of XRP do not qualify as investment contracts.
The SEC had initially filed its appeal in January 2025, just before the departure of SEC Chair Gary Gensler.
Many drew parallels between this move and the agency’s 2020 lawsuit against Ripple, which was filed days before former SEC Chair Jay Clayton stepped down.
However, the regulatory landscape has since changed, with President Donald Trump’s pro-crypto stance reshaping the SEC’s approach to digital assets.
XRP Market Reaction and Price Movement
Following the SEC’s reversal, XRP surged to a session high of $2.5073 before stabilizing. Despite the gains, XRP has yet to reclaim its January 2025 peak of $3.3999 or its all-time high of $3.5505.
Nevertheless, the ruling has bolstered market confidence in Ripple and XRP’s long-term potential.
Ripple’s Next Move: Cross-Appeal or Settlement?
While Ripple celebrates the SEC’s withdrawal, the company still faces a decision on whether to proceed with its cross-appeal. In August 2024, Judge Analisa Torres ordered Ripple to pay a $125 million fine for violating U.S. securities laws.
Ripple had responded with a cross-appeal in October 2024, seeking to overturn certain aspects of the judgment.
Legal experts outline four possible scenarios for Ripple:
1. Continue the cross-appeal – This could result in a ruling from an appellate court on whether investment contracts require contracts.
2. Drop the cross-appeal and attempt to amend the judgment – This could potentially reduce the $125 million penalty.
3. Drop the cross-appeal and settle with the SEC privately – This would provide certainty but might not overturn previous rulings.
4. Pay the fine and move forward – This would allow Ripple to focus on business expansion.
While some speculate that a settlement might be the cleanest resolution, others believe that Ripple will push for a complete reversal of the penalties imposed.
Potential for an XRP Spot ETF
The SEC’s decision to drop its appeal also strengthens the case for an XRP spot Exchange-Traded Fund (ETF).
The approval of such an ETF could significantly boost institutional demand for XRP, similar to how Bitcoin’s spot ETF approval in January 2024 contributed to BTC’s surge past $109,000. Analysts predict that an XRP ETF could drive prices toward $5 if approved.
Crypto Regulation Under the Trump Administration
Since Donald Trump’s return to office, the SEC has taken a more lenient approach toward crypto. In addition to ending its case against Ripple, the agency has dismissed or paused legal actions against major exchanges like Coinbase and Kraken.
Trump has also nominated Paul Atkins, a pro-crypto legal expert, to replace Gary Gensler as SEC Chair.
Ripple was a key donor in the last congressional election cycle, and its leadership has maintained close ties with the Trump administration. The company’s strategic positioning could further influence regulatory decisions in favor of crypto adoption.
Conclusion: What’s Next for XRP?
Despite the SEC’s retreat, several factors will continue to shape XRP’s price and market position:
1. Ripple’s Cross-Appeal: A successful appeal could propel XRP beyond its all-time high of $3.55.
2. ETF Approval: Institutional inflows from an XRP spot ETF could push prices toward $5.
3. Global Economic Conditions: Market uncertainties, including trade tensions and recession risks, could impact short-term price action.
The coming months will be crucial for Ripple as it decides its next legal and business moves. While the battle with the SEC may be ending, the future of XRP and its role in the broader financial ecosystem remains an evolving story.
by | Mar 20, 2025 | Business
Global online fashion and lifestyle retailer SHEIN is excited to announce the official launch of its Affiliate Program in Australia, offering content creators, influencers, and digital entrepreneurs an opportunity to collaborate with one of the world’s fastest-growing fashion brands.
“We are thrilled to introduce the SHEIN Affiliate Program in Australia, providing content creators and online entrepreneurs with a seamless way to monetize their influence,” said a SHEIN spokesperson.
“This program is designed to empower affiliates with the tools and incentives needed to drive engagement and revenue while connecting their audiences with affordable, trend-forward fashion.”
The SHEIN Affiliate Program has been successfully implemented in various international markets, including the United States, United Kingdom, Canada, Germany, Italy, Spain, and Mexico. The launch of this program in Australia signifies SHEIN’s dedication to fostering digital entrepreneurship and supporting the local creator economy.
By offering Australian content creators and digital entrepreneurs the opportunity to collaborate through the affiliate program, SHEIN reinforces its commitment to the Australian market, fostering mutually beneficial relationships and enhancing brand engagement within the region.
The program is now open to Australian fashion influencers, bloggers, content creators, and digital marketers, aged 18 and above.
Upon signing up, new affiliates receive a $3 reward. If they successfully refer an order within the first 90 days, they will earn an additional $5, bringing the total reward to $8.
Key Benefits of the SHEIN Affiliate Program:
Competitive Commission Structure – Commissions earned on sales generated through unique affiliate links.Exclusive Promotions – Firsthand access to new collections, seasonal campaigns, and special discount codes.Advanced Tracking & Insights – Utilize robust analytics to track performance and optimize earnings.Global Brand Association – Partner with a leading e-commerce fashion platform with millions of customers worldwide.
How to Join:Australian creators interested in partnering with SHEIN can sign up via the SHEIN Affiliate Program portal: https://onelink.shein.com/4/4316m01tv2pm and start earning commissions by promoting their favourite SHEIN style.
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