'Ripple Pours $25M More into Crypto Super PAC Fairshake

Ripple has made a second $25 million donation to the crypto super Political Action Committee (PAC) Fairshake, adding to the $25 million it contributed last year. This funding, along with contributions from other crypto companies and leaders, aims to promote policies favorable to financial innovation in the U.S.

The Fairshake PAC is focused on supporting pro-crypto and pro-innovation political candidates in the 2024 elections. The PAC and its partners have amassed over $102 million for the election cycle, with significant contributions from key industry figures and companies like Coinbase, Andreessen Horowitz, and the Winklevoss twins.

Ripple has criticized the SEC’s current approach to regulating cryptocurrencies, which relies on enforcing existing laws rather than creating new ones. The company argues that this method hinders innovation and that the U.S. needs to better embrace crypto and blockchain technologies. Despite some progress in Congress towards comprehensive legislation, Ripple and other industry leaders demand broader regulatory solutions to ensure American innovation, competitiveness, and growth.

Ripple's CEO, Brad Garlinghouse, emphasized the importance of the 2024 elections for the crypto industry, noting the critical choice between candidates who support crypto progress and those who do not. He stated that the industry will continue to invest heavily in advocacy until significant regulatory changes are achieved.

Recently, a bill favorable to the cryptocurrency sector was approved by the U.S. House of Representatives. This bill aims to shift cryptocurrency regulation to a more industry-friendly government agency, among other supportive measures.

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Ripple recently moved over 1 billion XRP tokens, subsequently locking 800 million of these back in escrow, following an initial release of 500 million tokens.

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JUST IN: Ripple to launch stablecoin pegged to the US dollar.

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#RippleUpdateV #RippleEscrow Ripple CTO David Schwartz Clarifies Dynamics Between Ripple Shares and XRP

As Ripple explores plans for an initial public offering (IPO), Chief Technology Officer David Schwartz recently addressed questions from the XRP community about the relationship between Ripple shares and XRP. Schwartz highlighted the significant liquidity difference between XRP and privately held company stocks, emphasizing XRP's superior liquidity.

The conversation delved into the complexities of stock ownership, with community members speculating on Schwartz's potential motives and considerations. Schwartz shared his discomfort with the risk associated with his current stock holdings and mentioned potential future actions to manage this risk, including selling Ripple stock to buy more due to expiring options and significant tax considerations.

Ripple's IPO plans are currently on hold pending resolution of the ongoing legal battle with the SEC. CEO Brad Garlinghouse expressed optimism about the appointment of a new regulator's chief and the potential for improved regulatory clarity, signaling hopes for a future IPO in the U.S. With Ripple's valuation at $11 billion and ongoing discussions with investors, the company's future trajectory remains a topic of interest.

Ripple and SBI Group recently formed a partnership with Tokyo-based HashKey DX to launch XRPL-powered solutions in Japan, starting with the supply chain finance industry.

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The political campaign of pro-XRP attorney John Deaton has raised $1.2 million in public donations in the move to unseat U.S. Senator Elizabeth Warren, with contributions from the Ripple CEO and Chairman.

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Ripple has unlocked 500 million XRP from escrow for the month of April amid increased scrutiny of its XRP sales by the XRP community.

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Ripple has announced its new entry into the $150 billion stablecoin market, planning to launch a stablecoin on the XRP Ledger later this year.

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