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 ...

  The debate over the formation of a U.S. national digital asset reserve has intensified, with Ripple CEO Brad Garlinghouse advocating for the inclusion of multiple cryptocurrencies instead of limiting the reserve to Bitcoin alone. His stance has sparked controversy within the crypto community, particularly among Bitcoin maximalists who argue that BTC should be the only asset in the reserve. Garlinghouse Calls for Collaboration Over Competition Brad Garlinghouse has been vocal about the need for a diversified government-backed digital asset reserve, emphasizing that the cryptocurrency industry should not be a "zero-sum game." In a recent discussion, he argued that instead of competing, different digital assets should coexist and contribute to the sector’s overall growth. “If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other,” Garlinghouse stated. As Ripple continue...

  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...

    Massive SHIB Token Burns Ignite Excitement Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has experienced an explosive surge in its burn rate, increasing by 1,014% in just 24 hours . This surge has resulted in the destruction of millions of SHIB tokens , a mechanism designed to reduce the circulating supply and potentially boost the token’s value over time. The increase in burn activity has reignited community excitement, particularly as SHIB continues its mission to transform from a meme token into a more utility-driven digital asset. According to Shibburn , a leading tracker of SHIB burns, 6,607,094 SHIB tokens were removed from circulation in the past day alone. Over the last week, a staggering 43,925,619 SHIB tokens have been permanently destroyed. These aggressive burns align with ongoing efforts to support the Shiba Inu ecosystem , which has been expanding its use cases and blockchain capabilities. SHIB Price Action: Will Burns Trigger a Rally? Despite th...

The cryptocurrency market has once again been impacted by Donald Trump and Melania Trump-themed memecoins, which have surged in popularity and trading volume. This unexpected wave has had a significant effect on blockchain infrastructure, exchange platforms, and even liquidity providers. The memecoins, $TRUMP and $MELANIA, have triggered congestion on the Solana network, led to new CFD offerings, and pushed Bitcoin to new highs amid speculation surrounding Trump’s pro-crypto stance. Solana Faces Congestion Amid Trump Memecoin Hype The launch of $TRUMP and $MELANIA coins caused an unprecedented surge in activity on the Solana blockchain, leading to network congestion, transaction failures, and delays. Popular Solana-based services such as Phantom, Jito, and Jupiter faced severe strain, with Phantom handling over 8 million requests per minute. Even centralized exchanges like Binance, Robinhood, and Coinbase experienced infrastructure overload due to high trading volume. Coinbase CEO Bria...

  The Solana blockchain recently experienced significant congestion as interest in Donald Trump and Melania Trump-themed memecoins skyrocketed. The unexpected surge in transactions overwhelmed the network, causing delays, failed transactions, and increased pressure on both decentralized (DEX) and centralized (CEX) platforms , including Coinbase, Binance, and Phantom Wallet . Solana’s Network Struggles Amid Record Activity 🔹 Massive transaction load – Phantom, a leading Solana wallet provider, reported 8 million requests per minute , exceeding capacity and causing transaction failures. 🔹 Solana’s 24-hour DEX trading volume hit $23.7 billion , a record high, surpassing Ethereum and its Layer-2 networks combined . 🔹 Solana’s native token, SOL, surged to $294 , marking an all-time high , before correcting to $260. 🔹 Coinbase CEO Brian Armstrong acknowledged the surge , stating that Coinbase's Solana infrastructure was under strain and efforts were underway to scale operations. T...

  Binance Gains Regulatory Approval in Uzbekistan Binance has successfully secured regulatory authorization to operate in Uzbekistan through a strategic partnership with COINPAY LLC . This agreement enables Binance to provide its services via coinpay.uz , allowing local users to deposit and withdraw funds in Uzbekistani som through bank cards and national payment systems. Kyrylo Khomyakov, Binance’s Regional Head for Central and Eastern Europe, Central Asia, and Africa, emphasized the significance of this move: "This milestone underscores Binance’s commitment to working closely with local authorities to foster a regulated, innovative environment for cryptocurrencies." The National Agency of Perspective Projects (NAPP) , which oversees Uzbekistan’s crypto regulations, played a crucial role in this collaboration. NAPP also regulates capital markets, insurance, and e-commerce sectors, working towards a competitive and investor-friendly financial ecosystem . What This Means for U...

  Bitcoin has reclaimed the $102,000 mark, sparking debates about whether the rally will continue toward $106,888 or face a pullback. Analysts suggest that BTC must flip $102K into support for sustained growth, while some caution that resistance at this level could lead to weeks of sideways movement . Bitcoin’s Short-Term Outlook $102K Resistance Zone: Analysts from Stockmoney Lizards warn that $102K is a key resistance level , making it the “hardest nut to crack.” If BTC cannot establish this as support, it may trade sideways between $90K and $100K in the coming weeks. Bullish Momentum: Bitcoin has maintained seven consecutive days of gains , forming a bullish engulfing pattern that pushed prices beyond the $100K milestone. However, overhead resistance has led to minor pullbacks. Strategic Bitcoin Reserve Speculation: There is growing market speculation about a U.S. strategic Bitcoin reserve , which, if confirmed, could send BTC soaring. However, analysts at Polymarket e...

  Introduction Circle's latest State of the USDC Economy Report highlights groundbreaking achievements for the USD Coin (USDC) stablecoin in 2024. With $20 trillion in cumulative transaction volume and a 78% growth in circulation, USDC has emerged as the fastest-growing stablecoin, reshaping the digital financial ecosystem. Key Highlights from 2024 Transaction Volume : USDC reached a staggering $20 trillion in cumulative transactions, including $1 trillion in November alone, a testament to its increasing adoption. Market Position : With a market capitalization exceeding $45 billion, USDC is now the second-largest USD-pegged stablecoin and the seventh-largest cryptocurrency overall. Global Reach : Integrated across 16 blockchains, USDC is accessible in 180+ countries, serving over 500 million end users through platforms like Coinbase, Stripe, and MoneyGram. Driving Factors Regulatory Compliance : Circle became the first global stablecoin issuer to align with the EU's MiCA frame...

  Jamie Dimon, the long-serving CEO of JPMorgan Chase, has once again voiced his skepticism about Bitcoin, despite the cryptocurrency's increasing institutional acceptance and a record-breaking surge in 2024. During an interview with CBS, Dimon referred to Bitcoin as a "decentralized Ponzi scheme," asserting that the cryptocurrency lacks intrinsic value and is heavily used for illicit activities like money laundering and ransomware. Dimon’s Long-Standing Bitcoin Skepticism Dimon’s disdain for Bitcoin is not new. In 2017, he publicly declared that he would fire any JPMorgan trader dealing in Bitcoin, calling it "a fraud." He has since compared investing in Bitcoin to smoking: acknowledging personal freedom but warning of potential harm. Despite these comments, JPMorgan launched a Bitcoin fund in 2021 and disclosed minor exposure to Bitcoin ETFs, signaling a more nuanced approach by the bank compared to its CEO’s personal opinions. Bitcoin’s Record-Breaking Rally ...

    Ripple CEO Brad Garlinghouse has announced that the company now owns over $100 billion worth of XRP , marking a significant milestone for the blockchain-based payments firm. The revelation highlights Ripple’s dominant position in the cryptocurrency ecosystem, especially as the company navigates shifting regulatory landscapes and rising demand for its solutions. Ripple’s $100 Billion XRP Holdings In a recent interview, Garlinghouse confirmed Ripple's ownership of over 72% of the total issued XRP tokens, translating to a valuation exceeding $100 billion. This far surpasses earlier estimates of Ripple’s worth, including a 2024 valuation of $11 billion . Garlinghouse pointed out that such figures no longer reflect the true value of Ripple when its substantial XRP holdings are taken into account. This positions Ripple ahead of major players like MicroStrategy in terms of digital asset holdings, reinforcing its importance in the cryptocurrency market. While MicroStrategy holds a...

  Bybit, a leading cryptocurrency exchange, has officially ceased its operations in Malaysia following directives from the Securities Commission Malaysia (SC) . This development highlights the ongoing regulatory challenges faced by global cryptocurrency platforms in adhering to local compliance standards. Regulatory Actions Against Bybit The SC flagged Bybit and its CEO, Ben Zhou, for operating a Digital Asset Exchange (DAX) in Malaysia without proper registration as a Recognized Market Operator (RMO) under the Capital Markets and Services Act 2007. Key Actions Directed by the SC: Disable Access: Bybit was ordered to shut down its website, mobile applications, and any other digital platforms within Malaysia by December 26, 2024 . Cease Advertising: The exchange had to halt all advertisements, both online and offline, targeting Malaysian investors. Terminate Support Groups: Bybit was instructed to close its Malaysian Telegram support group immediately. The SC emphasized that un...

  Bitget Token (BGB), the native cryptocurrency of Bitget Exchange and Wallet, has hit an all-time high of $8.5 following a strategic merger with Bitget Wallet Token (BWB). This milestone underscores the platform's robust growth and innovative approach to expanding its ecosystem. Merger of BGB and BWB: A Unified Ecosystem The recent merger of BGB and BWB aims to unify Bitget’s exchange and wallet platforms under a single token. The merger simplifies the ecosystem while enhancing the utility and value of BGB. Conversion Ratio : BWB holders will receive BGB at a 0.08563 ratio. All BWB tokens will be burned, and users will receive BGB via airdrop. Purpose : The merger aligns on-chain and off-chain applications, creating a robust ecosystem. CEO Perspective : Gracy Chen, CEO of Bitget, highlighted the move as "a major step toward building a unified and resilient ecosystem for BGB holders." BGB’s Exceptional Performance The merger has driven unprecedented demand for BGB, with ...

  Hut 8, a leading Bitcoin mining and energy infrastructure company in North America, has solidified its position as a major player in the cryptocurrency market. The firm recently announced the purchase of 990 Bitcoin at an average price of $101,710 per coin , bringing its total reserves to 10,096 BTC , valued at over $1 billion . Strategic Reserve to Drive Growth and Innovation Hut 8’s Bitcoin reserve, built through a combination of low-cost mining and strategic market purchases, serves as a cornerstone of its treasury strategy. The company has achieved an average acquisition cost of $24,484 per Bitcoin , leveraging its reserve as a flexible asset for financing growth initiatives, optimizing its balance sheet, and driving shareholder returns. CEO Asher Genoot emphasized the strategic importance of the reserve: “Our Bitcoin reserve supports a flywheel effect that aligns our capital and operating strategies, enabling us to accelerate value creation across the business.” Key Growth...