1 month ago
It was different engaged week astatine CoinDesk arsenic the caller Trump Administration continued to rotation retired a pro-crypto docket and the manufacture laid the groundwork for maturation successful the caller cycle.
Ripple was astatine the halfway of the news. Ondo Finance announced it would connection tokenized treasuries connected Ripple’s XRP Ledger, Kris Sandor reported. The San Francisco institution besides said XRP Ledger would offer clawback features, enhancing liquidity for Ripple’s dollar-pegged stablecoin RLUSD, Shaurya Malwa reported. Meanwhile, CEO Brad Garlinghouse lobbied for XRP to beryllium included successful immoderate nationalist crypto reserve, riling Bitcoiners who accidental the reserve should beryllium bitcoin-only. Omkar Godbole had that news, on with respective incisive marketplace analyses (his Daybook regular update is simply a must-read).
In different protocol news, Cardano rolled retired a hard fork (“Plomin”), enabling decentralized governance. And Avalanche said its December upgrade resulted successful a 75% driblet successful transaction costs for users, a large triumph for that project. Meanwhile, Movement Labs unveiled a developer mainnet up of a much-anticipated L1 motorboat successful February. Stablecoins, the astir traded signifier of crypto, surged past a $200 cardinal marketplace cap. And Tether, issuer of the starring stablecoin, USDT, announced that it made $13 cardinal successful nett for 2024, a steadfast stockpile for further investments, Sandor besides reported. At the aforesaid time, Howard Lutnick, the administration’s prime for Commerce Secretary, defended Cantor Fitzgerald’s custodial narration with Tether during a Senate hearing.
MicroStrategy, which pioneered the thought of firm bitcoin treasuries, added further to its bags and outlined plans to rise much capital, James Van Straten reported. In ETFs, Bitwise won SEC support for a combined bitcoin-ether ETF, and filed an exertion for a dogecoin ETF, Helene Braun reported. Grayscale opened a caller closed-end money spot offering vulnerability to dogecoin, saying the memecoin, which was started arsenic a gag successful 2013, had go a instrumentality for planetary fiscal inclusion.
There was besides plentifulness of regulatory and argumentation news. Solana’s memecoin powerhouse, Pump.fun, was deed with a class-action suit alleging securities violations. Cheyenne Ligon reported that story, arsenic good arsenic quality that French authorities are expanding a money laundering and taxation probe against Binance. Robinhood CEO Vlad Tenev joined BlackRock’s Larry Fink successful calling for tokenized equity. And Jesse Hamilton, lawman managing exertion for regulatory, reported connected the continuing occurrence of Fairshake, an manufacture SuperPAC.
Meanwhile, Friday saw the parents of disgraced FTX laminitis Sam Bankman-Fried explore seeking a statesmanlike pardon for their son. They are taking inspiration from the caller pardon Trump handed to Silk Road laminitis Ross Ulbricht. But, arsenic Shaurya Malwa noted, the cases are precise antithetic and Joseph Bankman and Barbara Fried apt look an uphill task.
It’s been an absorbing fewer days successful crypto and we’ll person plentifulness much for CoinDesk readers adjacent week. As they say, enactment tuned.
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