Ripple CEO Brad Garlinghouse has shared an optimistic outlook on the future role of the U.S. in the cryptocurrency industry. In a tweet, he also commented on SEC Chair Gary Gensler and his role in ongoing legal cases, including the Ripple vs. SEC lawsuit.
U.S. as the "Crypto Capital of the World"?
Garlinghouse stated that he attended the annual cryptocurrency conference hosted by the financial institution Cantor. He believes that the recent political leadership changes in the U.S., announced on November 5, pave the way for the nation to become the global hub for cryptocurrencies. These changes, he argues, provide the crypto industry in the U.S. with room to grow and gain greater legitimacy.

He also expressed doubts about the future of SEC Chair Gary Gensler, whom the newly elected president has promised to dismiss on the first day in office. Garlinghouse previously expressed hope that Gensler would be held accountable for allegedly ignoring the law.
Significant XRP Withdrawals and a 16.75% Price Surge
According to the tracking platform Whale Alert, two major XRP withdrawals were made from Binance over the past 24 hours. Two anonymous wallets collectively withdrew 216 million XRP, worth more than $167 million.

Meanwhile, XRP's price surged by 16.75%, climbing from $0.70564 to the current $0.83954. The cryptocurrency has made three attempts to break the $0.83 resistance level and is currently up 6.65%.
Whales and Sharks Accumulate XRP
According to the on-chain analytics platform Santiment, whales and sharks (wallets holding at least 1 million XRP) have accumulated 3.44 billion XRP over the past two years. These large holders now control a total of 45.61 billion XRP, marking the highest level since June 2018.
In January 2018, XRP hit its all-time high of $3.84, suggesting that the current rally could signal potential further gains.
This development underscores that both XRP and the broader crypto industry are experiencing positive momentum, with the U.S. increasingly positioning itself as a key player in the global crypto landscape.

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Report: Happy new year! 🎉 In 2023, we saw the US hit Binance with a $4 billion settlement and launched high-profile lawsuits against crypto companies. In 2024, the US is likely to continue to take strict enforcement actions against market participants. Is that the right path for the US? 🇺🇸 As CNBC writes:'While many regions have passed laws with potentially tough penalties, the U.S. is still the only country that has actively taken action against large-scale crypto companies and projects. Thus far, the U.S. has led that campaign against crypto firms by enforcement and has, by far, been the most punishing of regulators when it comes to penalties and fines.'Considering that the US was instrumental in popularising crypto initially, its unique and forceful regulatory stance is likely to face criticism for potentially hampering innovation and diminishing its competitive edge in the dynamic crypto landscape. The possibility of companies relocating abroad appears to serve as a strategic leverage in negotiations with regulatory bodies:'But crypto companies have begun to push back, with some threatening to decamp from the U.S. entirely should this dynamic of policing by enforcement continue.'However, the concern of the crypto industry extends beyond harsh penalties; it involves the unpredictability and ambiguity of the US regulatory landscape. 💭While the US lacks specific legislation tailored for the crypto industry, the EU 🇪🇺 is poised to implement its Markets in Crypto-Assets (MiCA) legislation in the upcoming year. The US has been a prominent and stringent enforcer concerning fraud and security within the crypto market, but other countries are rapidly catching up with more detailed and comprehensive regulatory frameworks:'However, other regions, including Singapore, Dubai, Hong Kong, and the European Union, are also developing robust regulatory frameworks, ... While these regions may not be as visible in international media for enforcement actions, they possess significant and sometimes stringent regulatory mechanisms.'It's obvious that there's a global competition for regulatory transparency and coherence. 🥇🥈🥉 If the US doesn't maintain a proactive and effective regulatory strategy, it risks losing its position as a benchmark for crypto standards. Other regions are ready to step in, offering clearer and more appealing regulatory environments that could lure businesses away from the US. #BTC #USACryptoTrends

Binance gets greenlight to invest customer assets in US Treasury Bills
Binance, the world's largest cryptocurrency exchange, has received permission to invest customer assets in US Treasury Bills. This move marks a significant milestone for the company, as it seeks to expand its offerings and provide more traditional investment opportunities to its users.
According to a recent court filing, Binance has been granted permission to invest customer funds custodied at BitGo in Treasury Bills maturing on a four-week basis. This means that Binance will be able to use customer assets to purchase US Treasury Bills, which are considered to be one of the safest investments in the world.
The move is seen as a positive development for Binance, as it seeks to build trust with regulators and expand its offerings to include more traditional investment products. The company has been working to improve its relationships with regulators in recent months, and this move is seen as a significant step forward.
It's worth noting that Binance will only be able to invest customer assets in Treasury Bills with the explicit consent of the customer. This means that customers will have the option to opt-out of the program if they do not want their assets invested in this way.
Overall, this news is a positive development for Binance and the cryptocurrency industry as a whole. It marks a significant step forward in the development of more traditional investment products for cryptocurrency users, and demonstrates Binance's commitment to building trust with regulators and expanding its offerings to include more traditional investment opportunities.
#USACryptoTrends
#Write2Earn!
#ETH_ETF_Approval_23July
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