Ripple begins testing RLUSD stablecoin on mainnet

August 9, 2024 Coin Telegraph

Ripple believes the total stablecoin market will have swollen to $2 trillion by 2028 as demand for the low-volatility fiat-pegged tokens grows.

On Aug. 9, Ripple Labs announced the first tests of its United States dollar-pegged stablecoin, Ripple Labs’ Ripple USD (RLUSD), on the XRP ledger (XRPL) and Ethereum mainnets, with plans to deploy the fiat-backed token on additional blockchain networks in the future.

According to Ripple Labs, the upcoming stablecoin will be overcollateralized, meaning that each unit of RLUSD is backed by USD reserves or short-term cash equivalents in a bank, at a ratio of 1:1 with the US dollar. To guarantee transparency and accountability, Ripple also promised third-party audits of the underlying cash assets and monthly reports published on the reserves.

The crypto firm also reiterated its commitment to using both XRP (XRP) and RLUSD to serve markets, quelling rumors that the firm would abandon XRP to focus on its new stablecoin.

Blackrock Amasses Billion in Bitcoin, Approaches 2% of Total Supply

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

XRP Skyrockets by 27% in 24 Hours After Judge Orders Ripple To Pay $125,000,000 in SEC Lawsuit

August 9, 2024 The Daily Hodl

XRP Skyrockets by 27% in 24 Hours After Judge Orders Ripple To Pay 5,000,000 in SEC Lawsuit

crypto

XRP surged by more than 27% in the 24 hours after a judge issued a long-awaited order in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs. In an order filed on Wednesday, District Judge Analisa Torres imposed a $125 million civil penalty against the San Francisco-based payments company. In March, the SEC […]

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Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

SEC vs. Ripple lawsuit nears conclusion after $125 million fine imposition

August 8, 2024 The Crypto Briefing

SEC vs. Ripple lawsuit nears conclusion after 5 million fine imposition

Crypto Briefing

The resolution of the SEC vs. Ripple case could set a precedent for future regulatory actions in the cryptocurrency industry.

The post SEC vs. Ripple lawsuit nears conclusion after $125 million fine imposition appeared first on Crypto Briefing.

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Ripple and DIFC Partner to Drive Blockchain and Crypto Adoption in UAE

August 8, 2024 Bitcoin.com

bitcoin.com

Ripple has unveiled its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to promote blockchain and crypto adoption in the UAE. The collaboration seeks to encourage innovation among early-stage companies and large institutions. Ripple has dedicated one billion XRP to provide financial, technical, and business support to developers on the XRP […]

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Ripple Hails Victory as Judge Cuts SEC’s Penalty Request by 94% in Final Judgment of XRP Case

August 7, 2024 Bitcoin.com

bitcoin.com

District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple, imposing a $125 million civil penalty. “This is a victory for Ripple, the industry, and the rule […]

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Ripple Gears Up for Rollout of RLUSD Stablecoin With Launch of New Webpage

August 6, 2024 The Daily Hodl

Daily Hodl

San Francisco-based payments company Ripple has rolled out a new webpage for its upcoming dollar-pegged stablecoin. The firm says on the new page that Ripple USD (RLUSD) will be issued on the XRP Ledger and the Ethereum (ETH) blockchain. Ripple notes the stablecoin will be fully backed by cash and cash equivalents and redeemable on […]

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Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Demand for XRP on Crypto Exchanges Rebounds to Pre-Lawsuit Levels: Kaiko Analytics

August 5, 2024 The Daily Hodl

crypto exchange

Demand for XRP is bouncing back on digital asset exchanges, according to crypto analytics firm Kaiko. After a long, drawn-out lawsuit with the U.S. Securities and Exchange Commission (SEC) that ultimately ended in the ruling that XRP sold on exchanges does not constitute a security, Kaiko says demand for XRP is back. “Since last year’s […]

The post Demand for XRP on Crypto Exchanges Rebounds to Pre-Lawsuit Levels: Kaiko Analytics appeared first on The Daily Hodl.

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Ex-Ripple board member, Biden adviser joins Harris campaign: Report

August 5, 2024 Coin Telegraph

Coin Telegraph

Economics adviser Gene Sperling joined Ripple’s board in 2015 after serving under Presidents Bill Clinton and Barack Obama.

One of United States President Joe Biden’s senior economic advisers and a former member of Ripple Labs’ board of directors will be leaving the White House to join Kamala Harris’ 2024 presidential campaign.

In an Aug. 5 notice, President Biden said Gene Sperling would leave his administration, where he had worked as a senior adviser since 2021. Reports suggested that Sperling will join Vice President Kamala Harris’ campaign with roughly three months until the presidential election, with leading candidates including herself and Republican nominee Donald Trump.

Sperling joined Ripple’s board in 2015 after serving as an economic adviser under Presidents Bill Clinton and Barack Obama. He served in the Biden administration starting in 2021. At the time of publication, Ripple’s website did not list the economic adviser as one of its nine-member board of directors.

Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Presidential Candidate Kamala Harris Adds Ex-Binance Adviser to Campaign Team: Report

August 4, 2024 The Daily Hodl

Binance

Democratic presidential candidate Kamala Harris is reportedly adding an ex-Binance adviser to her campaign team. According to a new report by Politico, the Harris campaign has hired David Plouffe – an ex-political advisor to former President Barack Obama who once served on Binance’s Global Advisory Board. An anonymous source familiar with the matter tells Politico […]

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Blackrock Amasses $24 Billion in Bitcoin, Approaches 2% of Total Supply

Ripple CEO Slams SEC Hypocrisy and Haphazard Crypto Regulation

July 31, 2024 Bitcoin.com

Binance

Brad Garlinghouse, CEO of Ripple, criticized the U.S. Securities and Exchange Commission’s inconsistent regulatory practices after the regulator revealed its intention to amend its complaint against Binance concerning the security status of certain crypto tokens. He highlighted the contradiction between SEC Chair Gary Gensler’s statements and the agency’s actions, emphasizing the need for clear, consistent […]

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