|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Ripple CEO Tips Opportunity in Stablecoins, Not Surprised By XRP ETF Applications
Oct 21, 2024 at 05:53 am
Ripple CEO Brad Garlinghouse threw more light on RLUSD stablecoin, related regulations, and its case with the United States Securities and Exchange Commission. The crypto executive also addressed talks of an XRP ETF and lingering concerns about going public. The upcoming U.S. elections remain a big determinant of crypto regulations as candidates roll out plans for the sector.
Ripple Labs CEO Brad Garlinghouse has shared his thoughts on RLUSD stablecoin, related regulations, and their ongoing case with the United States Securities and Exchange Commission. Additionally, he discussed the recent applications for an XRP ETF and addressed concerns regarding going public. Notably, the upcoming U.S. elections will play a significant role in shaping crypto regulations.
During an appearance on the Thinking Crypto Podcast, Garlinghouse explained how Ripple's extensive use of stablecoins, at one point minting 20% of USDC due to high institutional flows, led them to conclude that there is an opportunity in this market.
"I kind of came to the conclusion that there is an opportunity here given that we are driving a lot of liquidity, and the fact frankly that we have a very strong balance sheet, we felt like there’s an opportunity for Ripple to play in this market. There’s lots of competition in crypto, this is for me more about growing the market.”
He went on to say that USDC will continue to do well and Tether will remain despite regulatory concerns in some jurisdictions, but these roadblocks could reduce the asset's total market share as other competitors emerge.
Regarding RLUSD, Garlinghouse mentioned plans to ensure full regulatory compliance and expressed hope that the industry will obtain stablecoin regulation as early as next year.
Moreover, the company emphasized adhering to regulations when offering yields to users. Ripple has been facing a legal battle with the SEC over a long-standing lawsuit that alleges the firm offered unregistered securities.
The lack of crypto regulations has created challenges in the United States market, prompting developer migrations to jurisdictions with clear rules for digital assets.
Recent applications by major institutional firms for an XRP ETF have sparked positive reactions. Garlinghouse stated that he was surprised by the timing but not the outcome.
Since the launch of Bitcoin ETFs in January, the Ripple CEO and other crypto executives have anticipated more fund applications to the SEC.
He explained that it aligns with investor demand, highlighting the Ethereum products and Solana filings, ultimately leading to these XRP ETF applications.
Finally, Garlinghouse noted that these products, as a new investment channel, will bring more capital into the XRP ecosystem.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- The Social – Seminyak
- Oct 21, 2024 at 02:20 pm
- After a hiatus of more than a year occasioned by the COVID-19 pandemic, The Social – Bali’s most innovative, engaging, and fun-filled “watering-hole” has reopened in the heart of Seminyak to warmly welcome old and new friends to its new state-of-the-art sports bar, dining, and entertainment venue.
-
- Crypto firm Ripple launches a stablecoin pegged to the US dollar, looking to disrupt a market dominated by Tether and USD Coin
- Oct 21, 2024 at 02:20 pm
- The venture marks a major milestone for Ripple, coming more than a year after a landmark win in a case against the Securities and Exchange Commission last year
-
- SEC Approves Options Trading for Bitcoin ETFs, Reshaping Market Dynamics and Attracting Institutional Investors
- Oct 21, 2024 at 02:20 pm
- The cryptocurrency landscape is buzzing with excitement following a significant regulatory approval from the U.S. Securities and Exchange Commission (SEC). The SEC has authorized the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to begin trading options on various spot Bitcoin Exchange-Traded Funds (ETFs). This move is poised to reshape the market dynamics for Bitcoin and attract a wave of institutional investors.
-
- EigenLayer Acknowledges Twitter Account Compromise, Denies System or User Data Breaches
- Oct 21, 2024 at 02:20 pm
- EigenLayer, a prominent platform in the crypto community, faced a major security breach when their official Twitter account was compromised. Hackers used the account to post malicious tweets containing phishing links, resulting in significant financial losses for victims who fell prey to the scam.