In recent developments in the crypto space, a US district court has denied Ripple and the SEC's joint request to reduce a $125 million civil penalty. The court determined that the earlier rulings were aligned with federal securities laws concerning XRP transactions. Meanwhile, Galaxy Digital has successfully raised $175 million for its inaugural venture fund aimed at investing in early-stage crypto startups, surpassing its target of $150 million. This fund is set to focus on high-growth areas like stablecoins and payments. Additionally, Invesco has entered the race to launch a spot Solana ETF, becoming the ninth firm to do so. The proposed fund, in collaboration with Galaxy Digital, would directly hold Solana and aims to track its price if approved by the SEC. Analysts suggest a 90% chance of approval, potentially ahead of an October deadline.

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