Skip to main content

Justice Served: $451M Penalty for Firms Behind Binary Options Fraud

Post a Comment

Ripple's RLUSD Reserves Revealed as Talks with Trump on Crypto Strategic Reserve Intensify

 


 

Ripple's RLUSD reserves have been disclosed for the first time, showing a total outstanding supply of 77,208,201 RLUSD with reserves valued at $83,214,671 as of December 31, 2024. The stablecoin maintains a 1:1 peg to the U.S. dollar with a 107.77% coverage ratio, primarily backed by:

  • U.S. Treasury Bills: $30,095,603
  • Other Assets: $30,119,460
  • Cash Deposits: $22,978,696
  • Accrued Interest: $20,912

Ripple's stablecoin reserves are held in FDIC-insured bank accounts and government-backed money market funds, ensuring liquidity and transparency. Independent third-party audits will be published monthly to maintain trust and oversight.

This disclosure reinforces Ripple’s claim that RLUSD is fully backed by dollar reserves, making it a secure and compliant stablecoin for institutional and retail users.

Ripple CEO Brad Garlinghouse has confirmed that he held discussions with U.S. President Donald Trump about integrating XRP into the U.S. strategic digital asset reserve. Garlinghouse believes the reserve should diversify beyond Bitcoin, ensuring it includes multiple cryptocurrencies rather than focusing solely on BTC.

Garlinghouse stressed that the crypto industry should collaborate rather than compete, emphasizing that Bitcoin maximalism hinders innovation. He noted that Ripple remains committed to advocating for fair regulatory policies that enable multiple digital assets to thrive.

Ripple's RLUSD is also gaining significant adoption, with Margex listing RLUSD for trading alongside USDT. The stablecoin is backed by regulated financial institutions and is currently available on Bitstamp, Uphold, Bullish, Independent Reserve, MoonPay, Bitso, and Coinmena. Ripple is actively working to list RLUSD on Binance, Coinbase, and Bybit.

Ripple’s leadership expects RLUSD demand to surge in 2025, further strengthening its position in the stablecoin market.

As Ripple continues its expansion into the stablecoin sector, RLUSD is emerging as a strong competitor in the market. Meanwhile, discussions between Garlinghouse and Trump highlight growing government interest in crypto adoption and diversification.

With RLUSD gaining more exchange listings and Ripple pushing for a multi-crypto U.S. reserve, 2025 could be a game-changing year for Ripple and XRP in the global digital asset ecosystem.

Labels:

Comments

Post a Comment

Popular posts from this blog

Justice Served: $451M Penalty for Firms Behind Binary Options Fraud

  In a major crackdown on financial fraud, the U.S. District Court for the Northern District of Illinois has ordered five offshore trading firms and three individuals to pay over $451 million in restitution and penalties for their involvement in a fraudulent binary options trading scheme. The case, led by the Commodity Futures Trading Commission (CFTC) , targets an international fraud network that misled investors into trading on fake platforms, ultimately causing massive financial losses. The Fraud Scheme: Misrepresentation and Manipulation Between 2014 and 2019 , the fraudsters operated unregulated binary options trading websites under names like BigOption, BinaryBook, and BinaryOnline . They aggressively lured investors, promising risk-free profits while manipulating trading platforms to ensure traders would lose money. The scheme involved: Fake identities and false financial expertise to gain investor trust. Hidden restrictions on bonuses that made withdrawals nearly i...
Post a Comment
Read more

XRP Price Dips Below $3: Key Levels and Recovery Prospects

  XRP has recently slipped below the crucial $3 mark, triggering concerns among investors and traders. This drop signals a potential shift in momentum, with analysts closely watching key support levels to assess whether the asset can rebound or face further declines. As of now, XRP is trading around $2.185, positioning itself at a critical juncture. Key Support and Resistance Levels to Watch The breakdown below $3 has transformed a significant support level into resistance. For XRP to regain its bullish stance, it must reclaim this level with substantial buying volume. Meanwhile, three major price points will likely determine its next move: $2.62 – 50-Day Moving Average This level has historically acted as support during previous corrections. A bounce here could indicate a potential reversal. However, failure to hold above this zone may result in deeper declines. $2.03 – 100-Day Moving Average This is a more substantial support level that could attract buyers looking for a stable e...
Post a Comment
Read more

Changpeng Zhao Reshapes Binance Labs into YZi Labs with a $10 Billion Investment Focus on AI, Web3, and Biotech

  Binance Labs Rebrands to YZi Labs Binance Labs, the venture capital arm of Binance, has officially rebranded as YZi Labs as Changpeng Zhao (CZ) shifts its focus beyond cryptocurrency. This transformation marks a new chapter for the firm as it expands its investment strategy to artificial intelligence (AI), Web3, and biotechnology while maintaining its core involvement in blockchain projects. On January 23, 2025 , YZi Labs was launched with CZ and Ella Zhang at the helm. Zhang, who previously led Binance Labs, played a pivotal role in incubating some of the biggest crypto projects, including Polygon, Injective Protocol, and Dune Analytics . Under the new structure, YZi Labs will continue to support over 250 blockchain startups while diversifying into emerging technologies. A New Vision Beyond Crypto Under its new identity , YZi Labs is no longer a direct subsidiary of Binance but rather a family office , managing an estimated $10 billion in assets for CZ and Binance co-foun...
Post a Comment
Read more