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FTX has sued former CEO, Sam Bankman-Fried (SBF), and top executives for financial misconduct and fraudulent transactions as the crypto exchange seeks to recover at least $1 billion misappropriated before it went under.
#FTXUpdate
#SBF
#crypto2023
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#Cardano founder Charles Hoskinson has criticized Wyoming Token Commission executive director Anthony Apollo for ignoring Cardano and XRP in the stablecoin project. Hoskinson has been vocal about recent developments in the Wyoming stablecoin project. For context, the agency announced nine chains where Wyoming would issue the imminent state-backed stablecoin, including networks like Ethereum, Stellar, and Sui. However, the major shock came when the project did not include Cardano, Bitcoin, and XRP as networks that could accomodate the stablecoin. The decision did not bode well with Hoskinson, who has repeatedly cited a bias. Cardano Founder Taunts Apollo In a tweet today, Hoskinson taunted the Wyoming Token Commission’s head, Anthony Apollo, for the snub. He reposted a tweet from a Cardano enthusiast, stating that the executive director overlooked Cardano and XRP but chose Ethereum because he knows a lot about the network. The Cardano founder stated that his knowledge came from his time with Consensys, one of the core developers of the Ethereum network. He implied that Apollo was biased in his decision to include Ethereum and snub Cardano. Notably, the response came to a tweet from Stake With Pride, one of the Cardano ecosystem’s SPOs and Dreps. The user shared a clip from the December 13 Wyoming Joint Appropriation Committee meeting, where Apollo insinuated that Cardano is centralized. #CryptoNews🚀🔥V
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#XRP fair market value exceeds the $122,000 price mark, according to an assessment from the Collateralization model from Valhil Capital. XRP has been one of the top performers over the past six weeks, having recently reclaimed and retained the $2 level. Despite this, some commentaries suggest the altcoin still trades below its fair market value due to several factors contributing to price suppression. The Collateralization Model Notably, last year, venture capital firm Valhil Capital compiled several models seeking to assess XRP’s fair market value under certain conditions. Interestingly, a bold valuation model, the Collateralization Model, suggests that XRP could has a fair market value of $122,580. This evaluation sees a future where global financial systems are tokenized, and XRP becomes the foundation for collateralizing assets worldwide. Developed by Valhil Capital, the model examines the total global wealth and tokenization’s impact on XRP’s role as a store of value. Interestingly, the Collateralization Model assumes that all global assets, including real estate, derivatives, central bank reserves, and commodities, are tokenized on the XRPL, the underlying blockchain for XRP. The Ripple CTO David Schwartz already confirmed that the XRPL is pivoting to RWA tokenization. This ambitious scenario sees a future where blockchain technology represents the full spectrum of global wealth. Notably, the goal is to determine XRP’s value as a universal collateral asset in a highly interconnected, tokenized financial system. Further, the methodology stresses XRP’s ability to secure assets rather than drive transactions. The model’s assumptions include full tokenization of global wealth and the use of XRP to collateralize this value. #CryptoNewsUSA
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"XRP Gears Up for a Massive Breakout with Targets of $2.90, $3.20, and $4.40"
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"VanEck’s Crypto Forecast: Bitcoin to $180K, Ethereum to $6K, and Solana to $500 by Q4 2025"
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Amid speculation that BlackRock may be preparing to launch an #XRP ETF, an executive from the company has provided an update. Over the past few months, several XRP enthusiasts have been anticipating an XRP ETF filing from BlackRock. It all began after a fake XRP ETF filing from the company was filed on the State of Delaware website last year. At the time, the price of XRP skyrocketed tremendously, soaring by over 15%. However, BlackRock quickly refuted the report, emphasizing that the filing was fake. Ever since, several asset managers like Bitwise, Canary Capital, 21Shares, and WisdomTree have submitted separate applications to the SEC, seeking to launch XRP ETFs in the United States. Latest Update on BlackRock XRP ETF Consequently, speculation suggests that BlackRock could also join the race to offer an XRP ETF to its clients. On the contrary, fresh comments from BlackRock’s Head of ETF Department, Jay Jacobs, indicate that the world’s largest asset manager has no immediate plans to launch an XRP ETF. According to Jacobs, BlackRock is currently focused on its spot Bitcoin and Ethereum ETFs rather than introducing a similar product for other altcoins like XRP. Recall that BlackRock launched its Bitcoin and Ethereum ETFs earlier this year, with both products attracting inflows of $35.88 billion and $3.19 billion, respectively. Despite this remarkable feat, Jacobs pointed out that only a small fraction of BlackRock’s clients currently own shares of iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Therefore, he emphasized the need to broaden their accessibility to a wider range of clients while stressing that there are no immediate plans to introduce new ETFs tied to altcoins, such as XRP. Bloomberg’s ETF Analyst Eric Balchunas shared Jacob’s comment on X earlier this week. #Crypto
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