Category: Crypto market

Cardano working with Ripple, Biget lists RLUSD

Posted on by Olumide Adesina

Charles Hoskinson, the founder of Cardano, confirmed that his team is working with Ripple’s RLUSD stablecoin. These conversations are part of ongoing efforts to incorporate RLUSD into the Cardano ecosystem. During a recent livestream, Hoskinson responded to community inquiries about the stablecoin’s potential launch schedule on Cardano.

 

Although discussions began last year, several external factors, particularly business developments involving Circle, the USDC issuer, continue to influence its trajectory. Mr. Hoskinson noted that assessing the broader implications of a possible Ripple acquisition of Circle is an aspect of the ongoing talks.

The acquisition is reportedly worth around $11 billion. Such development could significantly alter RLUSD’s growth and SEO strategy. If RLUSD and Circle were to merge, timelines for integration may need to be updated.

Hoskinson also disclosed that Cardano had volunteered to provide free support for the RLUSD integration.

Reports indicate that the RLUSD team declined this offer, stating that technical and strategic issues must be addressed before any implementation.

These issues include deciding whether to integrate RLUSD through a direct issuance strategy or a layer-zero routing system, which several blockchain projects are actively investigating. Although no official agreement has been reached thus far, the teams remain in active discussion.

Meanwhile, Bitget has recently added support for the Ripple USD (RLUSD) stablecoin, becoming the newest cryptocurrency trading platform. Users can now deposit the token into the exchange. The first two trading pairs for RLUSD will be RLUSD/USDT and RLUSD/USDC.

SEC delays decision on Bitwise XRP, Ethereum, Cardano, Solana ETF

Posted on by Olumide Adesina

The US SEC said it will take an extra sixty days to decide whether to accept NYSE Arca’s proposed rule change to list the Bitwise 10 Crypto Index Fund, which includes significant cryptocurrency assets like Ethereum, Cardano, Solana, Bitcoin, and XRP.

The decision, which was originally set for June 1, has been moved to July 31. NYSE Arca submitted the proposed rule change in November 2024, and last December, it was published for public comment in the Federal Register.

The SEC postponed its decision on the ETF application on January 14,

The process to approve or reject the proposal began on March 3, Investors can gain diversified exposure to the top ten most valuable cryptocurrency assets with the Bitwise 10 Crypto Index Fund (BITW), introduced in November 2017. Grayscale’s spot Cardano ETF and spot Avalanche ETF are two more crypto ETF proposals that the SEC postponed making decisions on Wednesday. With these filings, Grayscale is attempting to broaden its product line beyond Bitcoin and Ethereum.

Unsurprisingly, the agency is delaying its decision on crypto ETF filings. This delay pattern aligns with the SEC’s routine review procedure for cutting-edge financial products, such as cryptocurrency exchange-traded funds (ETFs).

GME Stock Tumbles 12% to $31 on $515M BTC Investment – Rebound From Here?

Posted on by Skerdian Meta

Following the revelation of a substantial Bitcoin investment, GameStop’s stock saw a dramatic reversal, ending a period of turbulent trading that was significantly influenced by cryptocurrencies.
Continue reading “GME Stock Tumbles 12% to $31 on $515M BTC Investment – Rebound From Here?” →

South Africa Fintech, Online and Crypto Job Opportunities May 29-30 – Cape Town FMAS:25

Posted on by Skerdian Meta

As Africa’s fintech, cryptocurrency, and financial sectors expand, the Finance Magnates Africa Summit 2025 is an important forum for collaboration, innovation, and opportunity in the fields of trade, cryptocurrencies, payments, and jobs. Continue reading “South Africa Fintech, Online and Crypto Job Opportunities May 29-30 – Cape Town FMAS:25” →

GME: GameStop Makes First Bitcoin Purchase

Posted on by Olumide Adesina

GameStop announced its first Bitcoin investment, purchasing 4,710 Bitcoin. This is GameStop’s first publicly announced Bitcoin purchase since the company announced plans to invest in Bitcoin in March, and the purchase was valued at approximately $513 million.

Is GameStop Back? GME Jumps as Bitcoin Hits $112K and Bulls Return

 

GameStop announced it would use debt financing for the Bitcoin purchase and started issuing $1.33 billion in convertible notes. The announcement follows months of conjecture that GameStop was looking into other assets, such as cryptocurrency. As a result of the speculation, GameStop’s (GME) stock has increased, rising 12% in March. GME stock prices increased by 18 percent as a result of February rumors.

GameStop’s choice to purchase Bitcoin comes with the increasing number of conventional businesses looking into digital currencies as a possible asset class.

This acquisition marks a significant step in its linkage with blockchain technologies, reflecting its prior interest in the digital and cryptocurrency sectors.

The stock is presently trading above its fair value. Subscribers can access 12 more exclusive analyses.

The announcement of GameStop’s Bitcoin acquisition comes after the company has taken several steps to refresh its image and adjust to emerging consumer preferences.

These initiatives include investigating new market prospects, enhancing the customer experience, and growing its e-commerce platform. Over the past week, the company’s stock has returned 24.81 percent, demonstrating strong momentum.

Forex Signals Brief May 28: RBNZ Cuts Rates by 25 bps, FOMC Minutes Later

Posted on by Skerdian Meta

Today we already had the CPI inflation from Australia, the RBNZ lowered interest rates by 25 bps, wile later we have the FOMC meeting minutes. Continue reading “Forex Signals Brief May 28: RBNZ Cuts Rates by 25 bps, FOMC Minutes Later” →

Ripple: XRP lacks Central issuer, No PoS Functionality

Posted on by Olumide Adesina

David Schwartz, the Chief Technology Officer of Ripple, addressed misconceptions and clarified the decentralized nature of XRP.

 

User John Puruntong (@username_1) referenced an analogy in a tweet, posing the question: “If XRP is decentralized, why is Garlinghouse its face and Ripple its issuer? I don’t see the same arrangement with BTC.” His remark suggested that Ripple’s assertions of being a decentralized asset might be undermined by its close ties to XRP.

David Schwartz provided a direct explanation for why XRP lacks a central issuer and why all its tokens were distributed concurrently with the launch of the XRP Ledger.

The XRP Ledger operates as a distinct network even though Ripple is the company’s leader. Schwartz asserts that the original distribution model allowed individuals or groups to claim those tokens independently, and that Ripple did not distribute XRP.’ People misinterpreted and mislabeled XRP as a Proof-of-Stake (PoS) asset,” Schwartz added.

Schwartz urged blockchain users to adopt a unique approach to participant agreement instead of focusing on strict definitions of decentralization, setting the XRPL apart from the competition.

He maintained that rather than arguing over ideological terminology, users should assess networks depending on their objectives and expectations.

He contends that the usefulness of a blockchain’s architecture is more important than labels, which frequently sow discord. Additionally, he pointed out that decentralization needs to be viewed in light of its effects on security, trust, and performance.

The CTO clarified that the sXRP Ledger infrastructure focused on stability and efficiency, aspects not present in fully decentralized models.

Forex Signals Brief May 27: Tariff Relief Lifts Sentiment, Watch the Gap in US Stock Market

Posted on by Skerdian Meta

Markets began the week on a mixed yet energetic note, driven by political developments, shifting currency dynamics, and standout performance in cryptocurrencies. Continue reading “Forex Signals Brief May 27: Tariff Relief Lifts Sentiment, Watch the Gap in US Stock Market” →

Circle disregards Ripple, Coinbase deal

Posted on by Olumide Adesina

Circle, the company that issues the stablecoin USDC, refuted recent rumors that it is in informal talks to acquire Coinbase or Ripple. In a statement published on X by Whale Insider, the business stated that “Circle is not for sale.”.

 

“Our long-term objectives are still the same.” This explanation follows a surge of conjecture on social media and in cryptocurrency circles about Circle’s possible acquisition.

Circle’s statement clearly rejected these rumors. Expanding the use and acceptance of USDC across multiple platforms and regulatory jurisdictions is part of the company’s current roadmap.

The company clearly stated its current operational and strategic independence by rejecting informal or other discussions without any conditions. Coinbase and Ripple had not publicly responded to Circle’s denial or the allegations at the time of this report. It’s still there.

Kate Young Ju, an alternate X account for Ki Young Ju, the creator of the on-chain analytical platform CryptoQuant, recently clarified the conversation in a post addressing SUCH topics.

“XRP seems like a group of capital market experts. It has its shortcomings, but its movement is unquestionably sharp,” according to the pseudonymous account.

Speaking about the rumors involving Ripple and Circle, the analyst stated that the payment giant would be a strategic move if Ripple were to acquire the stablecoin issuer. Circle initiated “informal talks” with Coinbase and Ripple regarding the potential acquisition agreement.

Circle aims for a sales valuation of at least $5 billion, which aligns with its initial public offering (IPO) target.

The analyst highlighted that major players anticipating Circle’s IPO may support XRP in the future, driven by the high demand for stablecoins from the cryptocurrency and traditional markets. There is a rumor that Ripple might consider acquiring Circle. If this is true, it could be a strategic move.

“Investors who wait for Circle’s IPO might choose to purchase XRP instead, as many are eager to invest in the future of stablecoins.” He added.

 

 

Forex Signals Brief May 26: RBNZ, FOMC, Key Inflation Data, and Nvidia NVDA Earnings in Focus

Posted on by Skerdian Meta

This week the RBA delivered a rate cut, while RBN is expected to follow this week, while we have the Nvidia earnings as well as the FOMC meeting minutes ahead of us. Continue reading “Forex Signals Brief May 26: RBNZ, FOMC, Key Inflation Data, and Nvidia NVDA Earnings in Focus” →