By Kapil Rajyaguru
XRP Rallies 10% as Ripple’s Stablecoin Gets Regulatory Approval, CEO Garlinghouse Says.
XRP, the native token of the XRP Ledger (XRPL) network, surged during the U.S. afternoon hours on Tuesday as Ripple CEO Brad Garlinghouse said the company’s much-anticipated stablecoin obtained regulatory approval from the New York Department of Financial Services.
XRP rallied 10% following Garlinghouse’s announcement in a broader crypto market bounce, erasing today’s losses. The token was up 6.8% over the past 24 hours, outperforming bitcoin.
Tether’s USDT Recognized as Accepted Virtual Asset in ADGM.
Tether, the largest company in the digital assets industry, has announced the acceptance of USDT by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”).
This approval enables authorized persons operating and licensed by the FSRA to offer pre-approved services related to USDT, advancing the region’s leadership in digital asset innovation.
This announcement comes amid the rising adoption of digital currencies in the United Arab Emirates (UAE), reflecting the nation’s proactive approach to integrating traditional and digital finance.
Microsoft Shareholders Vote ‘No’ On Bitcoin Reserve.
Microsoft shareholders voted against a resolution to add Bitcoin to the company’s balance sheets during the firm’s annual meeting on Dec. 10.
The National Center for Public Policy Research (NCPPR), a pro-free-market think-tank based in Washington, D.C., had proposed the resolution, framing it as a corporate duty to provide value to shareholders through profit diversification.
On Dec. 1, Microsoft’s board heard a three-minute speech from Bitcoin bull Michael Saylor, who claimed that Microsoft could add almost $5 trillion to its market cap if it went all-in on Bitcoin. However, before the vote, Microsoft’s board remained unmoved.
MARA Holdings Buys $1.1bn More Bitcoin, Hits Industry-First 50 EH/S.
Bitcoin mining heavyweight MARA Holdings bought 11,774 Bitcoin for $1.1 billion at an average purchase price of $96,000 on Dec. 10, while its hashrate exceeded 50 exahashes per second (EH/s)—an industry first.
As of Dec. 9, MARA held 40,435 Bitcoin, worth $3.92 billion at a current price of around $97,000. MARA has made a 12.3% “BTC Yield” in the fourth quarter and 47.6% this year, according to a Dec. 9 filing with the United States Securities and Exchange Commission.
You need to login in order to Like
