Ripple CEO Brad Garlinghouse says the firm’s dollar-pegged crypto asset will become a top stablecoin by the end of the year after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the payments platform. In a new interview, Garlinghouse says that RLUSD – which launched in December 2024 – will grow into a […]
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The U.S. Securities and Exchange Commission (SEC) is officially dropping its lawsuit against Ripple Labs, according to CEO Brad Garlinghouse. In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency is dropping its appeal in its lawsuit against the firm, which it originally filed in December 2020 […]
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"This is even more personal after Gensler's SEC effectively froze our business opportunities here at home for years," the CEO wrote.
Ripple CEO Brad Garlinghouse announced that 75% of Ripple Labs' job openings are now based in the United States, and the company has closed more deals and partnerships in the US following the November 2024 election than in the previous six months.
Garlinghouse attributed the changes to the incoming Trump administration and Donald Trump's pro-crypto rhetoric. The CEO wrote in a Jan. 5 X post:
Industry executives, investors, and developers have all expressed optimism about the potential for crypto to flourish under the incoming Trump administration, with the expectation of a friendlier regulatory climate.
Bitcoin’s 2024 returns were doubled by the XRP token, following a significant legal victory for Ripple Labs and expectations of the SEC potentially dropping the lawsuit.
Bitcoin’s historic rally to the $100,000 milestone occurred among many significant crypto redemption stories in a year that further legitimized the industry’s status.
The year’s events brought a resurgence for many notable crypto projects that had faced hardships, including Ripple Labs, which scored a significant legal victory against the United States securities regulator, while the memecoin and asset tokenization sectors were also revived, driven by growing retail interest and robust growth predictions.
Beyond new all-time highs, 2024 brought renewed institutional interest in blockchain from some of the world’s largest institutions, such as BlackRock, which launched multiple crypto-based products.
RLUSD, a stablecoin by Ripple Labs, is pegged to the US dollar, ensuring a 1:1 value backed by cash or equivalents.
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to offer a stable digital currency for use in transactions and trading.
As a stablecoin pegged to the US dollar, 1 RLUSD is worth $1. The 1:1 peg is maintained with backing for every RLUSD coin. These collateral assets are either US dollar deposits or cash equivalents.
One trader has set a $1,200 bid for one RLUSD, an early warning sign there could be massive volatility when Ripple’s RLUSD stablecoin launches.
Ripple’s chief technology officer, David Schwartz, says there could be potential “supply shortages” in the early days of Ripple’s US Dollar-pegged stablecoin but is warning investors not to “FOMO.”
In a Dec. 15 post to X, Schwartz said he expects outsized volatility for RippleUSD (RLUSD) stablecoin immediately following its launch, with several large orders for the token despite being designed to maintain a 1:1 parity with the US dollar.
He noted that some small initial pre-market bids for the currently unreleased stablecoin were artificially inflating its value before its launch — responding to a post on X, which showed 1 RLUSD being valued at roughly 511 XRP (XRP) — worth $1,244 at current prices — on a Ripple wallet called Xaman.
Ripple Labs’ newest stablecoin product has received final approval from a prominent New York regulator. In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS). “This […]
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The chief technology officer of Ripple Labs says that the government needs to address the alleged unconstitutional unbanking of many crypto and tech founders. In a new thread on the social media platform X, Ripple CTO David Schwartz accuses the government of pressuring banks to cancel unfavored individuals and businesses with no evidence that they […]
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A prominent New York regulator is reportedly mulling over approving payments platform Ripple Labs’ RLUSD stablecoin as soon as next week. According to a new report by Fox Business, anonymous people familiar with the matter say the state’s top regulator – the New York Department of Financial Services (NYDFS) – has signaled to Ripple that […]
The post Powerful New York Regulator May Greenlight Ripple RLUSD Stablecoin As Soon as This Week: Report appeared first on The Daily Hodl.
In a recent Joe Rogan interview, Mark Andreesen revealed that the debanking of tech firms caused the Silicon Valley shift toward Trump.
Ripple chief technical officer David Schwartz recently joined the list of tech founders speaking out against Operation Chokepoint 2.0 — a government-run debanking operation against the crypto industry. Schwartz said the government is "addicted to indirect regulation" and laid out four reasons why de-banking undermines the rule of law.
Schwartz argued that debanked entities switch service providers or take their funds underground — thereby evading surveillance and sanctions control altogether. The CTO also said de-banking undermines due process, freedom of speech, and the right against unlawful search and seizure. Schwartz wrote:
"It is easier to pressure banks to cut off disfavored businesses than to make that business illegal," The CTO continued before imploring the government to use lawful and above-board processes to regulate businesses.
