Why this AI firm aims to hoard $300M XRP

May 30, 2025

Reading time: 5 minutes

$300M XRP reserve? Chinese AI firm bets big to power global chauffeur network

Key points:

  • Webus International plans a $300M XRP reserve to support cross-border payments, blockchain loyalty systems, and real-time driver settlements.

  • Despite rising institutional interest, XRP’s price remains subdued amid ETF delays and legal pressure.

News - Nasdaq-listed Chinese AI mobility firm Webus International has announced plans to raise up to $300 million via non-equity financing to build a strategic XRP reserve. The funds would support Webus’s blockchain-driven infrastructure for global chauffeur services, including on-chain booking records, a Web3 loyalty program, and instant driver payouts.

Webus CEO Nan Zheng emphasized that XRP could help reduce payment friction for Chinese firms facing cross-border banking hurdles. The reserve will be funded through a mix of bank loans, shareholder guarantees, existing cash, and third-party credit lines, deliberately avoiding equity dilution.

The firm is also renewing its partnership with Tongcheng Travel Holdings, aiming to use the XRP Ledger for settling international chauffeur payments via their “Wetour x Tongcheng” service lines. This follows VivoPower International’s announcement of a $121 million XRP treasury, reinforcing XRP’s positioning as a corporate blockchain asset beyond speculation.

Muted price despite corporate demand - Despite bullish developments, XRP remains stuck below key resistance, currently trading around $2.19, down over 6% this week. Technical indicators from multiple sources show the Relative Strength Index (RSI) hovering near 40, with XRP now testing lower Bollinger Band support at $2.18. A breakout would require the token to surpass $2.37, but short-term sentiment remains cautious.

Legal overhang looms large - The subdued price action comes as regulatory headwinds persist. A recent court setback in the Ripple vs. SEC case, combined with a two-month delay in the SEC’s decision on spot XRP ETFs, has dampened momentum. While XRP has achieved recent wins, including a futures ETF listing by Volatility Shares and a CME futures debut, clarity on its security status remains elusive. Ripple has renewed calls for formal asset classification guidelines to resolve long-standing legal ambiguity.

SEC clears the air on staking: ETH, SOL ETFs back in focus

Key points:

  • The SEC has clarified that most protocol staking activities on PoS blockchains are not securities.

  • This may open the door for staking-enabled Ethereum ETFs and reshape U.S. crypto regulation.

News - In a major policy shift, the U.S. Securities and Exchange Commission (SEC) has released staff guidance stating that most common crypto staking activities, particularly on proof-of-stake (PoS) networks, do not constitute securities transactions. This clarification is seen as a landmark moment for staking platforms, institutional investors, and ETF issuers alike.

According to the SEC’s Division of Corporation Finance, “Protocol Staking Activities”, including solo staking, self-custodial models, and custodial arrangements where users retain control, fall outside the Howey Test definition of an investment contract. Rewards, they emphasized, are generated by protocol rules, not managerial efforts, making staking legally distinct from investment products.

The update comes just as the SEC faces looming deadlines on Ethereum ETF applications. With this shift, staking, long treated as a gray area, now appears to be aligned with how crypto mining is evaluated under federal law.

A boost for Ethereum and Solana ETF ambitions - Asset managers like Grayscale and Fidelity have sought to incorporate staking rewards into Ethereum ETFs, but progress has been stalled by legal uncertainty. The new guidance, while non-binding, could remove a major regulatory roadblock. Solana, which runs on a comparable PoS model, may also benefit as the SEC softens its stance.

SEC division split on staking rules - The statement has drawn mixed reactions inside the Commission. Commissioner Hester Peirce welcomed the clarity, calling it long overdue for U.S. stakers and service providers. But Commissioner Caroline Crenshaw pushed back sharply, accusing the agency of bypassing court precedent and painting an “incomplete picture” of staking’s legal risks. She labeled the guidance a “fake it till we make it” tactic that could mislead investors.

SEC drops Binance lawsuit amid pro-crypto pivot under Trump

Key points:

  • The SEC and Binance filed a joint motion to dismiss the agency’s 2023 lawsuit with prejudice.

  • The case marks the latest in a wave of enforcement rollbacks under the Trump administration’s crypto-friendly policy shift.

News - In a significant reversal, the U.S. Securities and Exchange Commission has officially dropped its lawsuit against Binance, Binance.US, and former CEO Changpeng Zhao. The decision, revealed in a joint court filing, effectively ends one of the most high-profile crypto enforcement actions of the past two years.

Originally filed in June 2023 under former Chair Gary Gensler, the lawsuit accused Binance of offering unregistered securities, commingling customer funds, and misleading investors. But in the filing this week, the SEC noted it was dismissing the case “in the exercise of its discretion and as a policy matter,” requesting that it be dropped with prejudice, meaning it cannot be refiled.

The move follows Binance’s November 2023 settlement with the Department of Justice, which included a $4.3 billion fine and Zhao’s resignation. It also aligns with the broader policy realignment under President Trump, who recently installed Paul Atkins as SEC Chair and emphasized creating a crypto regulatory framework instead of regulation-by-enforcement.

Political winds shift SEC’s strategy - The dismissal follows a string of dropped lawsuits and investigations, including those against Coinbase, ConsenSys, and Kraken. SEC critics say this signals a strategic retreat under Trump’s administration, which has prioritized digital asset innovation. Binance itself called the outcome a “landmark moment,” thanking the administration for ending “regulation by enforcement.”

Some critics, however, warn of potential political favoritism, particularly as Binance recently listed USD1, a stablecoin tied to Trump’s blockchain venture World Liberty Financial.

Binance still faces lingering scrutiny - Despite the legal win, Binance’s reputation remains under a microscope. While the SEC case has been closed, the exchange continues to face skepticism due to past compliance violations and Zhao’s recent prison sentence. Additionally, Congress is still probing communications between Zhao and the Trump administration amid pardon speculation.

For now, the dismissal grants Binance a clean legal slate in the U.S., but not a full reputational reset.

Thailand cracks down: Bybit, OKX among 5 exchanges to be blocked

Key points:

  • Thailand’s SEC will block access to five unlicensed crypto exchanges, including Bybit, OKX, and CoinEx, starting June 28 to combat fraud and money laundering.

  • Legal action has been taken under the country’s updated tech crime decree, with criminal complaints filed against platforms and promoters.

News - Thailand’s Securities and Exchange Commission (SEC) has announced it will block local access to five major crypto exchanges, Bybit, OKX, CoinEx, 1000X, and XT.com, effective June 28. These platforms were found to be operating without authorization under the country’s Digital Asset Business Act.

In collaboration with the Economic Crime Suppression Division, the SEC has filed charges and submitted a formal request to the Ministry of Digital Economy and Society to restrict access to these platforms. The regulator emphasized that unlicensed exchanges expose users to heightened risks of scams, fraud, and money laundering.

Users have been urged to relocate their funds before the ban takes effect, as these platforms will no longer be accessible domestically.

Crackdown backed by tech crime decree - This enforcement action follows the implementation of Thailand’s Royal Decree on the Prevention and Suppression of Technological Crime, which became law in April 2025. The updated legislation gives authorities expanded powers to prosecute digital platforms and promoters operating without regulatory clearance.

In a notable move, the SEC also filed criminal complaints against OKX’s parent firm and nine local promoters accused of marketing the exchange on Thai-language platforms such as Telegram and Line without proper registration.

OKX responds, SEC encourages vigilance - OKX issued a statement expressing its commitment to regulatory compliance, stating: “We work proactively with regulators around the world and are fully committed to preventing illicit activities such as money laundering.”

Meanwhile, the SEC directed investors to its “Check First” app and alert platforms to confirm if an exchange is licensed. Any suspicious activity can be reported via hotline 1207 or the SEC’s website.

Crypto scams uncovered

  • The FBI's Internet Crime Complaint Center reported that Americans lost a record $9.3 billion to cryptocurrency fraud in 2024, a 66% increase from the previous year. Individuals over 60 were the most affected, accounting for approximately $2.8 billion in losses.

  • In February 2025, Argentine President Javier Milei promoted the $LIBRA cryptocurrency, causing its value to surge before crashing by 85% within hours. The incident, dubbed "Cryptogate," resulted in approximately $250 million in investor losses and sparked political controversy over potential misconduct.

  • On May 29, 2025, the U.S. Treasury's Office of Foreign Assets Control sanctioned Philippines-based Funnull Technology Inc. and its administrator, Liu Lizhi, for providing infrastructure to "pig butchering" scams. These scams defrauded U.S. victims of over $200 million by hosting fraudulent investment platforms.

Top 3 coins of the day

Zebec Network (ZBCN)

Key points:

  • At press time, ZBCN was trading at $0.0061, down 7.07% over the last 24 hours.

  • Despite the dip, it maintained strong bullish momentum above key supports, with volume and AO still favoring buyers.

What you should know:

ZBCN witnessed a sharp retracement after rallying over 160% in the last 14 days. At the time of analysis, the token was still trading significantly above its early May range, with the Parabolic SAR maintaining a bullish stance below the candles. The Awesome Oscillator remained strongly positive, confirming buyer dominance, even as short-term holders booked profits.The token’s surge was underpinned by strong accumulation and increased trading volume, especially after flipping the $0.0030 resistance into support. Bullish momentum was further fueled by news that Uphold holds over $35 million in ZBCN and may conduct an airdrop campaign for holders. Zebec Network’s acquisition of the UK-based fintech platform Science Card also bolstered sentiment, while speculation around a potential Ripple collaboration added more fire to the rally. If the $0.0055–$0.0058 region holds as support, ZBCN could attempt a retest of the $0.0072 zone. However, losing this level may expose the $0.0042 handle next. Overall, trend strength appears intact unless volume and oscillator strength diminish further.

DeXe (DEXE)

Key points:

  • At press time, DEXE was trading at $14.06, down 0.21% over the last 24 hours.

  • It saw a strong bounce from the $12.00 mark, triggering a sharp uptick in volume and MACD crossover.

What you should know:

DEXE recorded a strong price rebound after consolidating near the $12.00 zone, marking a high-volume bullish engulfing candle that sent the token briefly above $14.00. The Parabolic SAR dots flipped below the candlesticks, indicating a short-term trend reversal in favor of buyers. The MACD crossed above the signal line for the first time since mid-May, backed by widening histogram bars that reflect renewed momentum. Volume surged significantly on the breakout, hinting at strong market participation. If the rally sustains, the next key resistance lies near $15.20–$15.50. However, a failure to hold above $13.80 could attract renewed selling pressure, dragging the price back toward $12.70.

Arbitrum (ARB)

Key points:

  • At press time, ARB was trading at $0.37, down 4.92% over the last 24 hours.

  • It slipped below the midline of the Bollinger Bands, signaling weakening momentum and growing downside risk.

What you should know:

ARB lost its bullish grip after failing to sustain above the $0.42 resistance, with sellers forcing a drop below the 20-day SMA and the midline of the Bollinger Bands. The rejection came on the back of consistent lower highs since mid-May, and the recent red candles were supported by moderate volume, adding credibility to the move. The Relative Strength Index (RSI) hovered just above the neutral 50 level but pointed downwards, hinting at weakening buyer strength. If the downtrend extends, ARB may retest the $0.35 support zone, which aligns with the lower Bollinger Band. On the flip side, recovery above $0.39 is needed to reestablish bullish intent and retarget the $0.42–$0.44 range.

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