Patrick Witt, a man whose job seems to involve predicting the inevitable, warns that delaying regulation is like holding your breath while a train approaches. “There will be a crypto market structure bill,” he says, as if the universe itself has a vested interest in this outcome. But what if the bill is a dud? Well, that’s a risk worth taking, apparently.
Behold, the crypto world’s latest sensation: Ripple’s RLUSD, a stablecoin pegged to the almighty U.S. dollar, has debuted on Binance, the Colosseum of cryptocurrency exchanges. Ethereum support is already in place, with XRP Ledger integration poised to follow-a veritable feast for the blockchain gourmand.
Garlinghouse, ever the maestro of hyperbolic phrasing, declared it “eXtRemely Positive to see RLUSD listed on Binance.” One wonders if he penned this with a quill dipped in liquid gold or simply a keyboard with a penchant for excess. Either way, the message is clear: the community has been granted a golden ticket to the candy store of global liquidity.
Naturally, this has sent traders into a frenzy, with more questions than a toddler on a sugar high. What’s behind this sudden spike? Is it magic? Aliens? Or just the crypto gods having a laugh? Let’s dive in, shall we?
Binance has significantly reduced its XRP holdings over the past year, with a decrease of almost 45%. Analyst Niels reports the value of these holdings fell from $10.16 billion to $5.55 billion, indicating a large movement of XRP from the exchange to individual user wallets.
deeper yield products aimed at retail and a more sophisticated suite for professional and institutional accounts. With AFM oversight already in place, Finst is effectively betting that regulated staking and broader asset coverage will attract users disillusioned with off-shore venues. Because nothing says “we’re different” like a Dutch regulator and a bunch of tired investors.
And just as everyone was waiting for President Trump to throw yet another unfiltered zinger, Armstrong dropped a digital bomb about Bitcoin sticking its nose where it’s usually not welcome-the world’s elite money closets.
Even though both assets saw a decline, the quality of that move and what came next are far more important than the actual red candles. The majority of the pressure was absorbed by Bitcoin. Short-term structure was broken and the price was forced to heavily rely on the $90,000 support zone as a result of a severe sell-off that drove Bitcoin back toward the lower end of its local range. Bitcoin’s had a bit of a meltdown, really.