tl;dr
XRP could be the preferred blockchain for the digital euro. So far this is a rumor, but I am seeing multiple news sources reporting it. Here is what is on my mind today.1. France could be leading the European pack by considering XRP as a core technology for its digital euro approach to developing a ...
XRP could be the preferred blockchain for the digital euro. So far this is a rumor, but I am seeing multiple news sources reporting it. Here is what is on my mind today.
1. France could be leading the European pack by considering XRP as a core technology for its digital euro approach to developing a central bank digital currency (CBDC). Apparently, Banque de France has been testing technologies since 2021 and has recently completed a test using XRP with its TARGET2-Securities platform. His could be a major step for the region.
2. Gary Gensler didn't really have to come out and say his staff is working on Bitcoin Spot ETF proposals because we already knew, but it is nice to get that official confirmation. More importantly, I think it demonstrates support for my sentiment of the certainty of a forthcoming approval. I don't know about you, but I am preparing.
3. Did Coinbase just drop some serious news? Yup! They are expanding their offshore services to include perpetual futures contract for non-US users. In a statement Coinbase says, "Coinbase Advanced customers in eligible non-US geos can now trade BTC, ETH, LTC, and XRP perpetual contracts." This is going to be a very big deal as Coinbase continues its global expansion.
4. Here we go again with lawmakers demonstrating their lack of knowledge of the Cryptoverse. In a letter to the Department of Treasury, signed by 28 US Senators and 76 members of the House of Representatives, they request the department look into the role of crypto in financing terrorism. In a report by Chainalysis, crypto plays an almost insignificant role. Cash is still very much king in such transactions. Not to say crypto isn't used, because it is, but it does say the ire may be a tad misplaced. The US government has levied sanctions against the Gaza-based crypto exchanged involved with the Hamas transactions.
5. It would seem there may have been serious repercussions over the Bitmain salary leak. It is being reported the company has fired staff they believe involved and has even gone as far as taking legal action. Here is something to consider: do you want to do business with a company that is in such a poor financial situation that it spends it time and resources taking revenge against people that are not being paid?
6. I did not know the FDIC appointed an independent Inspector General to assess the agency's preparedness to address crypto for its member banks. I know President Biden requested all agencies start looking into the Cryptoverse and this is probably the impetus. The report states, "Specifically, the FDIC has not yet completed a risk assessment to determine whether the Agency can sufficiently address crypto-asset related risks through actions such as issuing guidance to supervised institutions."
7. Aptos Network says there was so much activity around its Aptos One offering that it brought down the network for about 5 hours. The network seems to be back up, but Upbit and OKX Exchange both halted deposit and withdrawal services for Aptos during that time citing maintenance.
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