Author: NBTC
A former Ripple employee has provided detailed insights on how Ripple’s upcoming RLUSD stablecoin will benefit XRP rather than harm it. This insight was shared in a conversation with Tony Edward, the host of the Thinking Crypto podcast. Notably, this Ripple alum was part of the team that developed Ripple’s On-Demand Liquidity (ODL) product, now known as Ripple Payments. RLUSD Will Be Paired with XRP for Greater Liquidity The former employee revealed they have long advocated for Ripple to launch a stablecoin. When asked whether RLUSD could negatively impact XRP, they suggested quite the opposite. According to their insights, the…
Ripple Labs will file a cross-appeal in its ongoing case against the U.S. Securities and Exchange Commission, the company announced Thursday, as part of an effort to maintain its legal defenses as the SEC’s own appeal in the case winds its way through an appeals court. The SEC filed a notice of appeal earlier this month in its long-running case against Ripple, which the regulator first sued in December 2020. Ripple’s cross-appeal is intended to ensure that the company preserves its points and arguments in the case, Chief Legal Officer Stuart Alderoty told CoinDesk, though he did not go into…
A report from August highlights oversold conditions for Bitcoin and potential upside as it trades near cycle bottom. The report outlined key factors influencing Bitcoin’s current market position and future price trajectory. The report resurfaced as Bitcoin recently surged to $62,000, spurred by yesterday’s rate cut. This latest movement has generated renewed discussions about Bitcoin’s long-term price potential, particularly the possibility of reaching $1 million within the next decade. Current Market Position Per the report, Bitcoin trades near the lower end of the Power Law’s logarithmic band, a historical indicator of consolidation or a potential market bottom. This position signals…
Uniswap has cemented its position as the top decentralized application (DApp) on the Polygon network, processing $539.55 million in trading volume over the past week. This substantial activity places the popular decentralized exchange well ahead of other DApps regarding weekly volume, indicating its strong user base and liquidity on the Polygon blockchain. Following Uniswap, Polymarket emerged as the second most active DApp, with a $370.92 million weekly volume and the highest number of unique active wallets (UAW) at 64.13K. QuickSwap, another decentralized exchange, held the third position, achieving $301.73 million weekly volume with 14.74K UAW, showcasing its ongoing relevance in…
The Federal Reserve released the minutes of its September meeting, providing information on the central bank’s ongoing evaluation of the economy and monetary policy. The minutes suggest that while a majority of Fed officials believe the risk of high inflation has receded, concerns remain about the potential impact of tapering policy restrictions too quickly. Many participants warned that premature or excessive easing of monetary policy could stall or reverse progress in fighting inflation. The minutes noted that the U.S. economy remained “solid,” but growth forecasts for the second half of 2024 were revised downward due to weaker-than-expected labor force indicators.…
Circle has signaled plans to bring its USDC stablecoin into Australia and beyond. The stablecoin giant has partnered with venture capitalist Mark Carnegie. Circle has signaled its plans to bring its stablecoin USDC to Australia and beyond with the unveiling of a partnership with venture capitalist Mark Carnegie’s MHC Digital Group, the companies announced on Tuesday. The partnership appears set to cover the Asia Pacific region since Carnegie’s company has offices in Australia and Singapore aiming to increase the distribution of USDC in the region and “exploring institutional use cases.” “With its young, mobile-first and digital wallet ready population, the…
An investment firm is facing charges by the SEC for misrepresenting AI capabilities in automating trades for clients. The Securities and Exchange Commission (SEC) charged Rimar Capital USA, Inc., its owner and a board member, with deceiving investors about the firm’s purported AI-driven trading platform. Falsely Misrepresenting AI According to the SEC, Rimar Capital raised nearly $4 million from 45 investors under the false pretense of having an advanced AI platform for automated trading. The allegations include misrepresentations regarding the company’s assets under management and investment returns. Speaking about the enforcement action, Andrew Dean, the Co-Chief of the SEC’s Asset…
The Federal Reserve instituted a 50-point rate cut, with promising liquidity conditions for a Bitcoin price spike. However, risks abound with cuts this severe, and crypto profits are far from guaranteed. Global liquidity is very likely to increase, but this might not equal Bitcoin inflows. Rate Cuts, Liquidity and Bitcoin The Federal Reserve has decided on a 50-point rate cut, and Bitcoin’s price has been soaring. Given these and broader market trends, many in the community expect a Bitcoin bull market. However, rate cuts alone cannot guarantee such favorable market conditions; other factors are also crucial. The key to understanding…
Aptos launches VibrantX, a platform simplifying DeFi portfolio management and rewarding users with a dynamic points system. Aptos Labs expands its blockchain services globally by acquiring HashPalette and becoming the exclusive blockchain provider for EXPO 2025. With the launch of VibrantX, a platform meant to streamline and standardize decentralized finance (DeFi) operations inside its ecosystem, Aptos has taken a risk. Positioned as a hub for DeFi portfolio management, VibrantX offers users dashboards for portfolio management and yield optimizers. By means of a points system that honors participation in events including lending, staking, and liquidity provision, the platform aims to draw…
The European Central Bank (ECB) has challenged the idea that stablecoins are a “safe haven” for investors in times of market turmoil, finding they are actually highly impacted by U.S. monetary policy. The working paper examined the link between U.S. monetary policy, money market funds (MMFs), and stablecoins. “Monetary policy, in particular for the U.S. dollar, is the linchpin that connects crypto and traditional financial markets,” the authors concluded. The paper argued that stablecoins—which have a fixed price and are typically pegged to a fiat currency, often the U.S. dollar—were vulnerable to shocks coming from within traditional financial markets, such…