Here is the summary of the top three news about Ripple, XRP and XRP Ledger.
Here is the summary of the top three news about Ripple, XRP and XRP Ledger.
Ripple CEO denies having “attacked” Tether
In the ongoing X exchange between Ripple and Tether CEOs Brad Garlinghouse defended his recent comment on USDT. As a reminder, during his appearance on the World Class podcast, Garlinghouse fixed that it was “clear” to him that the US government is targeting Tether; the declaration drew attention from Tether boss Paolo Ardoino, who referred to Ripple’s CEO as “uninformed” while mentioning Ripple’s own legal problems in the US. In response to Ardoino’s scathing post, Garlinghouse wrote that he did not attack Tether, but he underlined the importance of the world’s largest stablecoin issuer. crypto ecosystem. He later clarified that what he actually meant was that the US government wants more control over dollar-backed stablecoins, which is why Tether, as the largest player, is “in line of sight.” of the”.
XRP Soars 194% in Volume as Ripple v. Key Date Arrives SEC
Data provided by CoinGlass demonstrates a substantial increase in XRP derivatives trading volume, which increased by 194% from the previous day, May 13. Speaking in monetary terms, the turnover of derivatives, mainly open futures, reached highs of $831.89 million. At the same time, the cryptocurrency spot market saw a 130% increase in trading volume, reaching a total of $878.89 million. This increase pushes the overall turnover of XRP on centralized platforms to $1.7 billion in a single day. With XRP’s market capitalization standing at $28 billion, the asset’s trading volume represents around 6% of its capitalization, indicating notable but moderate trading activity. The timing of XRP trading activity coincides with a major development in the legal battle between Ripple and the SEC; On May 13, the parties filed general letter motions, seeking to seal all materials related to the reparations-related briefing, including writings, depositions, and supporting evidence. In addition, the parties presented proposals for drafting said materials.
XRP Ledger gets a South Korean validator
According to the official announcement of Infinite Block, a virtual asset service provider based in South Korea, has become a validator on the XRP Ledger. By participating in the XRP Ledger as a validator, Infinite Block is expected to enable the continued development of the XRPL ecosystem within the Korean regulatory framework. In early 2023, the Korea Financial Services Commission granted Infinite Block a license to operate as a virtual asset service provider, making it the only company among 50 to pass the regulator’s evaluation. Jung Gu-tae, CEO of Infinite Block, stated that the company’s latest move is aimed at increasing the reliability of XRPL. “We will contribute not only to user protection but also to improving the reliability of XRPL based on strict regulatory compliance, both nationally and internationally,” said the CEO.
