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Is Cardano a ‘wannabe Ethereum?’ What Hayes, Hoskinson have to say
about 5 hours ago
ZyCrypto
ZyCrypto
followers

Charles Hoskinson, the founder of Cardano, has criticized Ripple’s litigation strategy in the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. Hoskinson expressed his frustration in a recent Ask Me Anything (AMA) session, stating that Ripple’s focus on the alleged bias of the SEC towards Ethereum is unproductive and not helpful for the litigation. Hoskinson’s comments come in the wake of the growing controversy surrounding Ethereum, known as “ETHGate,” where investors claim that Ethereum received a “free pass” from regulators. At the same time, XRP and other cryptocurrencies were targeted. The theory further claims that Ethereum’s decentralization was manipulated, and the SEC allowed Ethereum to move ahead while penalizing other cryptocurrencies. Hoskinson acknowledged that the SEC’s treatment of different cryptocurrencies has been inconsistent, but he dismissed the allegations of fraud by the Ethereum Foundation as hard to prove. “It (ETHgate) was a campaign based on a lie. Even the founders of XRP refused to acknowledge is a lie. I would love to see Brad, Shwartz and others come out and physically say that all of this attack on our side is based on a lie.” Said Hoskinson. Addressing the core of Ripple’s argument, Hoskinson questioned the efficacy of their litigation strategy, particularly in light of their accusations against Ethereum. He argued that Ripple’s insistence on Ethereum receiving preferential treatment undermines their case against regulatory scrutiny. “Your litigation strategy, your fighting the US government, is to go and say ‘the only reason Ethereum is not a security is because they bribed the US government,'” Hoskinson remarked, pointing out the inherent contradiction in Ripple’s stance. That said, while the allegations of fraud by the Ethereum Foundation are hard to prove, the theory does have some merit. The SEC has been criticized harshly for its alleged inconsistency in choosing which initial coin offerings to label “unregistered securities offerings.”  Recently, pro-ripple lawyer John Deaton blasted the regulator for not investigating ETHGate, stating that “the truth doesn’t guide them” and “they don’t care about justice and free markets in a level playing field. All they care about is their pockets.” Notably, the SEC has struggled to make a strong case against XRP, particularly given its previous classification of Bitcoin and Ether as “non-securities.”

about 6 hours ago
Van00sa
Van00sa
followers

🤯 WHAT HAPPENED TO STARK?🤯 $STRK tokens from Starknet faced a significant drop in value, losing 53% post launch. The tokens, initially priced around $5 each, experienced a drop preceding substantial token unlocks scheduled in the coming months. Data reveals a 55% decrease in $STRK value in 24 hours, with trading volumes surpassing $1.2 bil. The liquidation of merely $3 mil. worth of $STRK futures indicates that the selling pressure was largely spot-driven. Approximately 728 million STRK were distributed to 1.3 million addresses based on predetermined factors, such as blockchain participation and community involvement. Starknet, an Ethereum rollup platform, employs zero-knowledge proof technology to authenticate data sets without revealing the data itself. Over 100,000 wallets have claimed upward of 220 million STRK as of current. Of the supply, 50.1% has been allocated to the Starknet Foundation for community airdrops, grants, and donations. 24.68% is set aside for early contributors and investors, while 32% is for developer StarkWare’s employees, consultants, and developer partners. These tokens will be unlocked monthly over 31 months, starting from April, potentially increasing selling pressure. However, controversy surrounds the schedule for team and investor unlocks. Market observers discovered that Starknet’s actual token generation event occurred in November 2022, initially carrying a one-year vesting period later extended to April 2024, favouring insiders over new buyers. Token vesting usually begins after going live on exchanges or closer to their trading date. In STRK’s case, issuance happened almost two years prior to a public announcement. This means seed investors will have 13.1% of the supply unlocked in April 2024, with further unlocks each subsequent month. The initial unlock could be worth over $2.6 billion at current prices. Starknet has so far maintained its decision and has not altered the vesting date. #crypto #airdrops #news Sign up to Binance - Vanessa Sierra

about 10 hours ago
CoinFea
CoinFea
followers

In a revealing Ask Me Anything (AMA) session, Cardano founder Charles Hoskinson took a firm stand against what he perceives as a misinformation campaign led by certain XRP community members. The dispute centers around the contentious “ETHGate” conspiracy theory, which accuses Ethereum insiders of unduly influencing the U.S. Securities and Exchange Commission (SEC) to favor Ethereum over Ripple’s XRP. Hoskinson vehemently dismissed these allegations, highlighting the absence of credible evidence to support claims of SEC bribery by Ethereum officials. He also expressed disappointment in Ripple’s leadership for not more aggressively denouncing these unfounded theories. SEC’s legal battles stir crypto community tensions The backdrop to Hoskinson’s comments is the ongoing legal battle between the SEC and Ripple, a lawsuit that has captivated the cryptocurrency world. As the case approaches its critical stages, Hoskinson pointed out the baselessness of the ETHGate theory and its irrelevance to the SEC’s legal actions against Ripple. This controversy unfolds while the SEC has recently targeted Cardano’s ADA token, suggesting it might be considered an unregistered security in actions against leading cryptocurrency exchanges. This move has sparked speculation about potential future legal challenges for Cardano, mirroring the scrutiny Ripple has faced. The AMA session shed light on the growing divide between supporters of Cardano and XRP, with Hoskinson lamenting the failed attempts at reconciliation. He attributed the ongoing discord to the XRP community’s adherence to conspiracy theories and their refusal to engage with factual counterarguments. This standoff underscores the challenges within the cryptocurrency community and reflects the broader issues of regulatory uncertainty and internal conflict that plague the industry. Conclusion: Seeking unity amidst crypto controversies Charles Hoskinson’s candid remarks during the AMA session highlight the need for a more unified approach to addressing the cryptocurrency industry’s challenges. As legal and regulatory pressures mount, the importance of dispelling misinformation and fostering dialogue between different community factions becomes increasingly apparent. The ability of industry leaders and communities to collaborate and navigate these complex issues will be crucial for the future of digital assets. The post Cardano founder calls out XRP misinformation campaign first appeared on Coinfea.

1 day ago
Cryptopolitan
Cryptopolitan
followers

In a recent Ask Me Anything (AMA) session, Charles Hoskinson, the founder of Cardano, addressed the ongoing hostility between himself and members of the XRP community. Hoskinson’s comments come amidst legal scrutiny involving Ripple, the company behind XRP, and allegations against Ethereum officials. The Cardano leader criticized XRP community members for perpetuating what he describes as a campaign of misinformation, particularly concerning the conspiracy theory dubbed “ETHGate.” ETHGate refers to allegations that Ethereum insiders had improperly influenced the U.S. Securities and Exchange Commission (SEC) to declare Ethereum a non-security, while simultaneously targeting Ripple for its sales of XRP. Charles Hoskinson rebuked these claims, emphasizing the lack of evidence to support the notion that Ethereum officials bribed the SEC. He also called out Ripple executives, including Brad Garlinghouse and David Schwartz, for not publicly refuting the conspiracy theory. The ongoing SEC v. Ripple litigation and ADA’s status The discourse around ETHGate and the SEC’s actions against Ripple has intensified as the SEC v. Ripple lawsuit nears its conclusion. Charles Hoskinson pointed out that while he acknowledges the existence of ETHGate as a theory, he believes it has no bearing on the SEC’s case against Ripple. Furthermore, he labeled the idea that the SEC was bribed to favor Ethereum over XRP as baseless, urging those who believe in such theories to present concrete evidence. This controversy unfolds as the SEC has recently labeled Cardano’s native token, ADA, as an unregistered security in its legal actions against major cryptocurrency exchanges such as Binance, Coinbase, and Kraken. These developments have led to speculation within the cryptocurrency community that the SEC might be preparing to take similar legal action against Cardano for allegedly offering ADA as an unregistered security. The rift between Cardano and XRP communities Hoskinson’s remarks underscore a deep-seated rift between the Cardano and XRP communities, with the Cardano founder asserting that attempts at reconciliation have been unsuccessful. According to Charles Hoskinson, the XRP community’s reluctance to disavow the conspiracy theories and acknowledge the factual discrepancies in their arguments against Ethereum and the SEC has hindered any progress toward resolving the hostility. As the legal landscape for cryptocurrencies in the United States continues to evolve, the tension between blockchain project supporters highlights the industry’s broader challenges. Regulatory scrutiny and internal community conflicts pose significant obstacles to the growth and acceptance of digital assets. Charles Hoskinson’s recent statements reflect ongoing tensions within the cryptocurrency community, exacerbated by legal challenges and divisive conspiracy theories. As the industry navigates these turbulent waters, the need for clarity from regulators and unity among blockchain proponents has never been more critical.

1 day ago
WISE CRYPTO NEWS
WISE CRYPTO NEWS
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#Write2Earn Charles Hoskinson, the Cardano founder, sharply criticized the #XRPcommunity for perpetuating what he calls a "relentless overwhelming campaign" of misconceptions and falsehoodsNo evidence  The ETHGate misunderstandingIn a recent AMA session, Charles Hoskinson, the founder of Cardano, vocally criticized the $XRP #community for what he describes as a "relentless overwhelming campaign" based on misconceptions and falsehoods. "There's no desire for peace there," Hoskinson stated. "They don't want peace because they don't want to acknowledge for perhaps a moment that we are talking past each other," he added. The long-standing conspiracy in question alleges that Ethereum backers may have unduly influenced the SEC's decision to pursue legal action against XRP. No evidence  Throughout his AMA, Hoskinson made repeated appeals for a shift toward rational discourse and evidence-based discussions with the XRP community. "You have no evidence, XRP community. Zero evidence that somebody bribed the US government to go after you. You have no evidence of that. It's a conspiracy. If you have it, show it. Years have gone by. No one has shown it," he asserted. He also urged Ripple leaders Brad Garlinghouse and David Schwartz to publicly acknowledge that the accusations are unfounded. "I would love to see Brad and David Schwartz to come out and physically say that all of that attack on our side is based on a lie," Hoskinson stated, addressing the core of the dispute head-on.The ETHGate misunderstandingHoskinson has clarified his stance on the ETHGate controversy. He stressed that his comments have been grossly misinterpreted by the XRP community. "I never once said that ETHGate didn't happen. I said it doesn't matter," he explained, arguing that the focus on this issue is immaterial and unproductive to the litigation XRP faces against the SEC. He dissected the conspiracy theories suggesting that the SEC went after XRP due to illicit influence, labeling such claims as baseless without evidence to support them. "It's entirely possible that someone could have bribed the SEC directly or indirectly, who knows, to give a free pass to Ethereum...To claim that they also went after XRP because someone bribed them is a conspiracy, and there's no evidence," he reiterated. #TrendingTopic #strk

1 day ago
Gold_Fish_Real Time Technical Analysis for Future Trading
Gold_Fish_Real Time Technical Analysis for Future Trading
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$WLD 🌏🌍🌎🌏🌍🌎🗺️🌍🌎🌎🌍🌏🌎 ✨✨Worldcoin: A Digital Identity for All with Cryptocurrency Rewards, But is it Worth It? 👩‍🏫🧑‍🏫Worldcoin (WLD) has generated significant buzz in the crypto space with its ambitious goal: providing everyone on Earth with a free, universally accessible digital identity and a share in its crypto token, WLD. However, the project has also faced controversy due to its data collection practices and privacy concerns. Let's delve into the world of Worldcoin, exploring its key features, potential, and the ethical considerations surrounding it. 🧑🏻‍💻🧑🏻‍💻What is Worldcoin? Imagine a world where anyone, regardless of location or background, can easily establish a digital identity and participate in the global economy. That's the core vision behind Worldcoin. It operates through: ⚡️⚡️Orb: A smartphone app that uses biometrics (iris scans) to verify users' uniqueness and award them WLD tokens. ⚡️⚡️World ID: A verified digital identity linked to users' Orb scans, empowering them to access various online services and financial opportunities. ⚡️⚡️Worldcoin Network: A decentralized network aiming to incentivize participation and ensure fair distribution of WLD tokens. 🔔🔔🔔Key Features: ⚡️⚡️Universal access: Aims to provide everyone with a digital identity, regardless of social, economic, or geographic barriers. ⚡️⚡️Financial inclusion: Integrates cryptocurrency rewards (WLD) for participating, potentially enabling financial opportunities for unbanked populations. ⚡️⚡️Decentralized governance: WLD holders participate in shaping the network's future through the Worldcoin DAO. Potential and Challenges: The potential of Worldcoin is vast. It could empower individuals globally, promote financial inclusion, and foster a more equitable digital economy. However, challenges remain: Privacy concerns: Collecting biometric data raises significant privacy concerns and potential for misuse. #Write2Earn #WLDUSDT

3 days ago
Coinpedia
Coinpedia
followers

The post Ripple vs SEC: Attorney Reveals Key Details On The Next Important Date appeared first on Coinpedia Fintech News The SEC v Ripple Labs are preparing for a crucial judicial battle on February 20, 2024. All the eyes are on the case as this is the only thing that can turn the case upside down. Ripple is confident in its ability to negotiate the SEC’s tactics to extend the legal process for financial advantage, even though the SEC may be celebrating a previous success forcing it to release financial documents. Meanwhile, legal experts reveal some key details.  Filan Update Adds Weight to February 20th Hearing Renowned attorney James K. Filan chimed in on the importance of February 20th in the SEC vs Ripple legal battle. Ripple is expected to respond to the SEC’s inquiries on this date, marking a crucial milestone in the ongoing case.  Right now, the whole controversy revolves around the financial documents. In the remedies phase of the litigation, the court determines sanctions for Ripple’s alleged securities law violations, specifically its sales of XRP to institutional clients. The SEC filed a motion to require Ripple to provide its audited financial statements from 2022 to 2023 and contracts for sales after the lawsuit started to help the court decide. Plus, the SEC also asked for information on how much profit Ripple made from selling XRP to big investors after the lawsuit started. On this Ripple resisted at first, but Magistrate Sarah Netburn sided with the SEC. Now Ripple has to provide the requested records by February 20th. Impact on Ripple’s Future XRP Sale The upcoming release of Ripple’s financial records will greatly affect how the court decides what measures are best. In addition to fines, the threat of an injunction against Ripple’s future sales of XRP to big clients can also be affected. The SEC says these financial records are very important for determining if such an injunction is needed. If it is, Ripple might have to register with the SEC before selling XRP to institutional buyers in the U.S. What Next? Looking ahead, March 13th through April 29th marks the next significant phase in the lawsuit, during which parties will submit their respective briefs about remedies litigation. Following this period, the court will determine the appropriate penalty for Ripple’s alleged violations. Legal experts and Ripple CTO David Schwartz posit that resolution may occur this year, though the specter of appeals could prolong proceedings into 2025 or 2026. Potential Appeals and Conclusion Appeals are still possible since Ripple and the SEC can challenge disagreeing decisions. Ripple benefited from last year’s summary judgment, but the SEC still disputes sections of it. The court denied the SEC’s interlocutory appeal, complicating the judicial procedure. The district court may hear more appeals if the case ends this year. As February 20th approaches, the XRP community braces for the next chapter in this twisted lawsuit, which could impact Ripple, XRP, and digital asset regulation.

3 days ago
Todayq News
Todayq News
followers

The price of Worldcoin’s WLD token skyrocketed by a staggering 167% in just seven days. Marking a significant surge attributed to the firm’s achievement of a major milestone. Worldcoin, a crypto project co-founded by OpenAI CEO Sam Altman, witnessed a remarkable rise in its native token (WLD) over the past week, coinciding with the attainment of over 1 million daily active users for its crypto wallet application. Launch and surge of the Worldcoin In a recent announcement on February 18th, Worldcoin disclosed that its crypto wallet app, known as the “World App,” surpassed the remarkable milestone of 1 million users. This substantial growth represents a notable increase from the mere 100,000 daily active users reported back in November of the previous year.  Launched in July 2023 by Sam Altman and Alex Blania, Worldcoin stands as a self-proclaimed “privacy-preserving” digital identity verification initiative, rewarding users with its native cryptocurrency in exchange for scanning their irises. Despite its ambitious aim of implementing Universal Basic Income (UBI) alongside its biometric identity system, Worldcoin has faced considerable controversy, as per reports. Particularly concerning privacy issues surrounding its eye-scanning devices dubbed “Orbs.” Regulatory scrutiny has intensified, with Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) initiating an investigation into Worldcoin’s local operations due to “serious risks to personal data privacy.”  Hong Kong’s suspicions  Reports state that the PCPD executed warrants and conducted inspections at six locations controlled by Worldcoin in Hong Kong as part of its probe. Beyond Hong Kong, regulatory concerns have attracted attention globally, leading to the suspension of Worldcoin’s services in Kenya and a temporary halt to iris scans in India. Despite these challenges, the native Worldcoin token has demonstrated remarkable resilience. Recording a remarkable 167% surge in value over the past week, buoyed by a broader rally across the cryptocurrency market. Meanwhile, Worldcoin’s recent gains have coincided with significant developments from OpenAI. On February 16th, OpenAI unveiled its latest innovation, Sora, a text-to-video generator enabling users to create video clips and scenes from text prompts.  This advancement follows closely on the heels of Altman’s announcement on February 9th, revealing plans to raise an astonishing $7 trillion to support the firm’s semiconductor chip development endeavors. Despite raising eyebrows within the tech community due to the colossal funding goal, Altman remains undeterred. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

3 days ago
Cointelegraph
Cointelegraph
followers

Worldcoin (WLD) token — a crypto project co-founded by OpenAI CEO Sam Altman has surged more than 140% over the last week, as its daily users ticked over the 1 million mark.  In a Feb. 18 post to X, Worldcoin announced that its crypto wallet application, dubbed “World App,” had notched more than 1 million users, a significant growth from just 100,000 daily active users in November last year. World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible pic.twitter.com/Mf6Y51gscQ — Worldcoin (@worldcoin) February 17, 2024 Launched in July 2023 by OpenAI CEO Sam Altman and Alex Blania, Worldcoin is a self-described “privacy-preserving” digital identity verification project that pays users in its native cryptocurrency in exchange for scanning their irises. Worldcoin’s price has surged more than 172% in the past two weeks. Source: CoinGecko The self-stated goal of Worldcoin is to attempt to introduce worldwide Universal Basic Income, by issuing everyone on the planet a small amount of its native WLD token in exchange for verifying their identity. However, Worldcoin’s goal of ushering in Universal Basic Income (UBI) alongside its biometric identity system has invited its fair share of controversy, largely centered on privacy concerns over its metallic eye-scanning devices dubbed “Orbs.” On Jan. 31, Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) launched an investigation into Worldcoin’s local operations, citing “serious risks to personal data privacy.” The PCPD said it had executed warrants and entered six premises controlled by Worldcoin in Hong Kong as part of its investigation. Outside of Hong Kong, the project has drawn the attention of many jurisdictions’ regulators over privacy concerns, seeing its services completely suspended in Kenya and the pausing of iris scans in India. Irrespective of these regulatory concerns, the native Worldcoin token has posted gains of more than 141% in the last week, buoyed by a wider rally throughout the crypto sector. Related: Worldcoin launches in Singapore following India pause Meanwhile, Worldcoin’s gains over the week have come alongside several major updates from OpenAI. On Feb. 16, OpenAI unveiled its new text-to-video generator, Sora, allowing users to generate video clips and scenes from text prompts. A week earlier, on Feb. 9, Altman announced that he would seek to raise a staggering $7 trillion to help the firm fund and scale its semiconductor chip development. While the massive dollar figure raised eyebrows throughout the tech world, Altman didn’t seem too phased. NFT Collector, DCinvestor: Is this the best NFT collection in the world?

3 days ago
davut1karabulut
davut1karabulut
followers

South Korea Takes On Tech Giants. 🇰🇷 👹 South Korea has recently unveiled ambitious plans to tighten the reins on tech giants, taking inspiration from the European Union's Digital Markets Act. This move echoes a global trend as countries seek to regulate the influence of dominant players in the tech industry. The Korea Fair Trade Commission is set to categorize certain companies as monopolies, imposing restrictions on their entry into specific sectors. While drawing inspiration from the EU's framework, these regulations also address concerns about local firms acquiring monopolistic control. Strong opposition from both local and foreign tech companies has temporarily halted the regulatory process. Companies argue that potential restrictions could have adverse effects on the South Korean economy, potentially benefiting competitors, particularly in China. Speculation arises that the regulatory push may be influenced by the upcoming April elections. Dissatisfaction with tech companies impacting small businesses fuels public sentiment, demanding comprehensive regulations. South Korea's $473 billion investment in a chip factory, reminiscent of Apple's value, unfolds amidst the regulatory controversy. Tech companies welcome the delay in regulations, asserting that restrictions could adversely affect the economy, ultimately benefiting China. Readers are encouraged to share their opinions on South Korea's regulatory strategy in the comments section. Public sentiments range from concerns about labor conditions to skepticism about the effectiveness of these regulations, reflecting a diverse array of perspectives. #SouthKorea #Korea #tecnology #China #TrendingTopic

3 days ago
Cryptopolitan
Cryptopolitan
followers

The saga of FTX’s downfall takes a dramatic twist with a new lawsuit pointing fingers at Sullivan & Cromwell, the law firm at the helm of the cryptocurrency exchange’s bankruptcy proceedings. Accusations are flying thick and fast, with FTX creditors alleging the firm not only had its hands deep in the cookie jar but also actively participated in the concoction of FTX’s financial disaster. Unraveling the Web of Allegations A tidal wave of controversy surrounds Sullivan & Cromwell, a law firm with roots stretching back over a century, now caught in the eye of the FTX storm. The lawsuit unearths a narrative where greed and collusion allegedly flourished unchecked. Creditors claim the law firm was, according to them, an accomplice that benefited from the chaos. The connections between FTX and Sullivan & Cromwell were not casual or fleeting. Ryne Miller, a figure pivotal to this tale, transitioned from a partner at the law firm to FTX’s general counsel, weaving a network of business that funneled back to his former employer. This is a calculated play to ensure Sullivan & Cromwell remained deeply entangled with FTX, reaping financial rewards through various legal undertakings. The narrative further thickens with the mention of FTX’s CEO, Sam Bankman-Fried, and his cozy relationship with the law firm, to the extent of operating from their offices. This closeness between the corporate entities is highlighted as a testament to their intertwined operations, raising questions about the law firm’s ability to maintain a professional distance and objectivity. FTX’s Financial Entanglements and Legal Quagmires Beyond the personal connections, the lawsuit shines a light on the financial ties that bound FTX and Sullivan & Cromwell together. The law firm’s coffers swelled with millions of dollars in legal fees from FTX, a point of contention given the exchange’s tumultuous financial health. Such monetary benefits are scrutinized, with creditors pointing out the potential conflict of interest these earnings represent, especially as Sullivan & Cromwell takes charge of navigating FTX through bankruptcy. The legal entanglements do not end with accusations of cozy relationships and financial gains. The lawsuit also delves into the firm’s alleged complicity in FTX’s misleading practices, painting a picture of a legal guardian that instead of protecting, chose to partake in the spoils of deception.

3 days ago
Crypto Ahmet
Crypto Ahmet
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😯🔥Tron Founder Justin Sun, Mysterious $500 Million Transfer Moves the Market #JustinSun the founder of Tron, made fun of a significant transfer of $ 500 million in the cryptocurrency market. This transaction, which originated from Justlend, a platform supported by Sun, led to question marks due to the rapid transition of Sun to Htx, a platform where it has an important consulting position. Thanks to the Whale Alert data, the big transfer came to light. Sun's participation in JUSTLEND, a Tron-based financial platform known for its stUSDT offerings, adds complexity to the results of the transaction. October October also October, an additional USDT of 642.06 million was redirected to justlend from an undisclosed wallet suspected to be linked to Sun, which further increased speculation within the crypto community. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 642.065.880 USDT transferred from unknown wallet (641.943.887 USD) - Whale Alert (@whale_alert) February 18, 2024 While the exact motivations behind Justin Sun's $500 million transfer remain unclear, various potential explanations have emerged, igniting further controversy in the crypto world. Some think that this may be a strategic move to support Sun's proposed platform by injecting liquidity into htx. Others suggest it could be a personal investment that diversifies his assets beyond Tron-related projects. October October October, in addition, concerns about regulatory scrutiny surrounding Tron and its founder may have been a driving factor that led Sun to move its assets to a different platform. #Trx #Write2Earn #binance

3 days ago
Crypto Expert BNB
Crypto Expert BNB
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🚡Ripple’s XRP Achieves Stablecoin Status, Recognized by World Bank 🌐 ☔☔☔☔☔☔☔☔☔☔☔☔☔☔↗ 🎯The World Bank's formal recognition of Ripple's native cryptocurrency, XRP, as a stablecoin marks a significant milestone for the company and its digital asset. This acknowledgment underscores XRP's increasing acceptance and utility within the global financial sphere. ................,..................................... 🚀🚀if you want 3 usdt then open my first pinned post,click my profile pic to open and claim 3 usdt🦄🦄🦄🦄🦄🦄🦄🦄🦄🦄 🎯The conversation gained momentum following a tweet by a prominent Ripple supporter, prompting insights from Sean McBride, a former director at Ripple. McBride reiterated his confidence in XRP's utility and its strides towards widespread adoption. 🎯Despite speculation about Ripple potentially issuing a new stablecoin, McBride highlighted the World Bank's recognition of XRP as a stablecoin. This validation reinforces Ripple's efforts to establish XRP as a dependable medium for cross-border payments and settlements, hinting at its potential evolution into a stablecoin. 🎯However, the World Bank's classification has stirred controversy, with analysts suggesting it may be influenced by the XRP Ledger's plans to introduce a stablecoin. Nonetheless, this acknowledgment from a prestigious institution bolsters Ripple's credibility and XRP's utility in the financial ecosystem. 🎯The discussion also reignited debates about Ripple's decision not to launch a liquid stablecoin on the XRPL in recent years. Speculation suggests Ripple's focus on positioning XRP as a bridge currency for Central Bank Digital Currencies (CBDCs) may have influenced this strategic choice, prioritizing XRP's role over private stablecoin 🎯This ongoing discourse provides insight into the strategic considerations Ripple faces as it navigates the evolving digital currency landscape. 🚀📊 #PIXEL #Write2Earn #Sei #TrendingTopic #Launchpool

5 days ago
Crypto
ETH
SOHOTRN(SOHOT)

$1.58e-3

99.76%

Market Cap
N/A
 

Volume (24h)
3.34m
 

1563.16%

Released on 23 Jan 2024
Coinpedia
Coinpedia
followers

The post World Bank Labels XRP a Cross-Border Stablecoin: Ignites Ripple Community Debate on Future Moves appeared first on Coinpedia Fintech News The World Bank’s recent classification of XRP as a stablecoin has caused a stir in the crypto community, sparking discussions about its implications for Ripple and its future plans. This classification came to light in a November 2021 research paper titled “Central Bank Digital Currencies for Cross-Border Payments,” where stablecoins were recognized for their role in facilitating efficient and secure cross-border transactions.  Despite reports citing XRP’s volatility as a drawback for payments, the idea of integrating stablecoin functionality into $XRP through Automated Market Makers (AMM) to address the banking sector’s stability demands remains highly speculative. Most community members argue that XRP can never be a stablecoin. The community is divided on the topic. Let’s see what the experts think.  Is the World Bank labeling XRP as a stablecoin a game-changer or just smoke and mirrors? In particular, the report highlighted XRP, Ripple’s cross-border payment currency, and XLM, the native asset of the Stellar network, as examples of stablecoins due to their stability in value relative to fiat currencies. The World Bank emphasized the efficiency of these assets in enabling faster and cheaper cross-border payments compared to traditional banking methods. Sean McBride, a former director at Ripple, recently drew attention to this classification, sparking speculation within the crypto community about Ripple’s potential plans regarding stablecoin issuance. McBride believes XRP could become a stablecoin, especially since the World Bank recognized it as one. This acknowledgment shows Ripple’s efforts to make XRP a reliable currency for global payments.  However, this stance by the World Bank has sparked controversy, with analysts speculating that it might be influenced by Ripple’s long-standing plans to launch a stablecoin. Despite this debate, the Wrath of Kahneman supports the idea, seeing it as a way to bring more stability and liquidity to XRP. What’s Pulling Ripple to Launch a Stablecoin?  Ripple has yet to introduce a stablecoin on the XRP Ledger (XRPL), prompting questions about their strategic decisions. Speculation from influencers like Mr. Huber suggests that Ripple’s focus on positioning XRP as a bridge between different digital currencies, particularly Central Bank Digital Currencies (CBDCs), may have influenced this choice. Moreover, Ripple sees private stablecoins as competitors to XRP’s role as a bridge currency, which explains their reluctance to introduce one.  Amidst these discussions, McBride’s confidence in XRP’s utility and the World Bank’s nod of its stability continue to drive the conversation forward, shaping Ripple’s strategic direction in the current volatile market conditions.

5 days ago

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