Ripple's CEO Discloses Significant Adjustment for XRP, Coinbase CEO Voices Opinion on Controversial Stablecoin Legislation, Rapid Increase in Shiba Inu's Potential Demise: Latest Cryptocurrency Roundup by U.Today
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Gossip around XRP? Ripple CEO announces a game-changer* Ripple bids farewell to XRP market reports* Brian Armstrong spills the beans on stablecoin law* Shiba Inu eyeing to vanish another zero
Dishing the Tea!
1. Ripple says goodbye to XRP market reports
In a recent X-post, Ripple CEO Brad Garlinghouse dropped a bomb about a key transformation coming to their Q1, 2025, XRP markets report. He announced that the familiar format will undergo a drastic change: instead of being bundled in a single quarterly report, updates on Ripple's XRP holdings will now be shared through a series of social media and blog posts.
Initially introduced in 2017, these reports were meant to boost transparency. Yet, Garlinghouse claims that this very transparency was "weaponized" by the U.S. SEC in its lawsuit against the company. The regulatory body used some of the disclosures to argue that XRP isn't decentralized enough.
2. Brian Armstrong chimes in on critical stablecoin law
On May 6, Coinbase chief honcho, Brian Armstrong, hopped on a platform to encourage the Senate to kick off a debate on the GENIUS Act. This bill aims to establish regulations for stablecoin issuers, consisting of a federal licensing process, adequate reserves, and dual regulatory structures.
The U.S. Treasury Department recently reported that the stablecoin market could grow from $230 billion to a whopping $2 trillion by 2028. However, this growth might cause a shake-up in traditional banks by stealing their deposits. Acting on this, lawmakers are hurrying to pass stablecoin legislation before the August recess.
3. The scent of a zero-less Shiba Inu in the air
Shiba Inu is creating a buzz as it aims to reduce another zero from its price. This topic has been a hot topic in the SHIB community for months. SHIB briefly achieved this milestone but failed to sustain it. Yet, recent trends and historical data hint at potential growth.
At the time of writing, SHIB is trading at $0.00001275, up 1.55% over the past 24 hours, as per CoinMarketCap. Additionally, the meme coin has seen a 3.8% increase over the past month. Historically, May has been a lucky month for SHIB; over the last four years, Shiba Inu has an average increase of 61% in May. This trend includes a 355.4% surge in May 2021 and a 13% hike last year. Moreover, recent token burns may further pump up SHIB's value.
#XRP#Ripple News#Brad Garlinghouse#Shiba Inu#Coinbase#Stablecoin#Crypto law
Bonus Bits:- The move away from quarterly reports and towards social media updates might help Ripple reduce legal risks, maintain transparency, and communicate in real-time[1][2].- The GENIUS Act aims to provide clear guidelines for stablecoin issuers, including a federal licensing process, adequate reserves, and dual regulatory structures[3].- May is a historically lucky month for Shiba Inu, experiencing an average increase of 61% over the past four years[4].
[1] Reuters: Ripple considers new method of XRP-holdings disclosure[2] Cointelegraph: Ripple distancing itself from XRP holdings reporting[3] DC Peters: Senate Banking Committee to Consider Digital Asset and Stablecoin Legislation[4] Cryptorank: Shiba Inu overview
- Yesterday, a new trading platform began offering Bitcoin and various cryptocurrencies, promoting itself as a decentralized financial ecosystem.
- A recent report by Forbes highlighted how technology is revolutionizing the finance sector, with cryptocurrencies like Bitcoin and XRP leading the way.
- In crypto news, a new token called Green Token aims to combat climate change by planting a tree for every transaction made using the token.
- Trading volumes for many decentralized finance projects, including stablecoins like Tether (USDT), have seen a significant increase this year, according to a report by Finance Magnates.
