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Uphold Says Ripple’s RLUSD Is Making Waves: Here’s What This Means For XRP

Uphold, a prominent cryptocurrency exchange and strong supporter of Ripple’s ecosystem, recently highlighted the remarkable rise of Ripple’s RLUSD stablecoin. In a post on X, Uphold emphasized RLUSD’s rapid growth, with its trading volume surging by over 100% within weeks of its launch. This impressive performance has already secured RLUSD a spot as the seventh most traded stablecoin by 24-hour volume, trailing industry leaders such as USDT, USDC, and DAI. At this rate, it could be vying for the top spot sooner than expected Ripple`s $RLUSD stablecoin is making waves, with trading volume surging by over 100% in its initial weeks post-launch. How do you think #RLUSD will impact the #XRP ecosystem and the broader #crypto market? — Uphold (@UpholdInc) January 5, 2025 A Promising Start for RLUSD Launched as part of Ripple’s expanding ecosystem, RLUSD has quickly gained traction in a competitive stablecoin market. Its early success shows strong market demand for regulated stablecoins, as RLUSD boasts NYDFS approval . By offering a USD-backed stablecoin, Ripple has provided users with another reliable medium of exchange, particularly valuable in an industry where volatility can hinder mainstream adoption. Uphold’s recognition of RLUSD’s rise further validates its significance in the broader cryptocurrency landscape. The exchange’s post comes as RLUSD becomes a central component of Ripple’s strategy to connect traditional finance with decentralized finance (DeFi). A New Dimension for Ripple’s Ecosystem While RLUSD’s market growth is noteworthy, its integration into Ripple’s ecosystem is equally significant. Ripple Chief Technology Officer David Schwartz described RLUSD as a complementary asset to XRP , designed to expand use cases and improve liquidity. RLUSD’s stability provides an ideal solution for users engaging in transactions or DeFi activities while minimizing exposure to volatility. The stablecoin’s strategic role aligns with Ripple’s long-standing goal of bridging traditional and digital financial systems. RLUSD has been referred to as a potential Trojan horse for integrating Ripple’s technology into traditional banking, allowing financial institutions to adopt blockchain solutions seamlessly. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Will RLUSD Take Over the Stablecoin Market? RLUSD’s rapid ascent also signals a shift in the stablecoin market. As the seventh-ranked stablecoin by 24-hour trading volume, it has outperformed many competitors, highlighting its growing appeal among users and institutions. RLUSD has achieved this notable feat in less than a month, and the speed of its growth shows how much faith the crypto world has in Ripple’s technology and the digital assets in XRP’s ecosystem. With the stablecoin beginning to gain its footing in Asia, the XRP community is excited to see how much it can grow as adoption increases over the next few months. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Uphold Says Ripple’s RLUSD Is Making Waves: Here’s What This Means For XRP appeared first on Times Tabloid . CoinTurk News

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Gemini Agrees to Pay $5M Settlement in CFTC Case

Crypto exchange Gemini agreed to pay $5 million to settle a case with the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made more than seven years ago about how easily the price of a bitcoin futures contract could be manipulated. Cameron and Tyler Winklevoss` exchange settled without admitting or denying liability, according to a letter from the CFTC`s attorney, K. Brent Tomer. A trial for the case had been set to start Jan. 21 , but that will no longer proceed. The CFTC sued Gemini in 2022, alleging it had misled the U.S. regulator during in-person meetings that occurred in 2017 . Part of the deal also included an injunction to prevent Gemini from making false or misleading statements to the commission in the future. These types of injunctions are common in settlements or lawsuits by federal securities and commodities regulators. Gemini also faces another case with the Securities and Exchange Commission (SEC). A judge ruled in March that the SEC could sue the exchange for violating securities laws . In the absence of legislation relating specifically to the crypto industry, U.S. regulators have sued a number of crypto exchanges, including Coinbase and Binance , for violating securities laws. Many observers have said pro-crypto comments made by President-elect Donald Trump indicate he will appoint regulators with a less confrontational attitude to the industry and a reduction in so-called regulation by enforcement . CoinTurk News