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Ripple announced the official launch of its RLUSD stablecoin, pegged to the US dollar, for December 17. According to the company, each token will be backed by dollar deposits and US government bonds.
An independent audit will certify RLUSD reserve assets monthly to reinforce user confidence. “From the beginning, we decided to operate under the NYDFS regulatory standard, recognized as the most important globally,” said Ripple CEO Brad Garlinghouse.
Initially, RLUSD will be available on platforms such as Uphold, MoonPay, Archax and CoinMENA, with upcoming additions on Bitso, Bitstamp, Mercado Bitcoin and others. Ripple projects that this launch will boost the adoption of stablecoins in a context of clearer regulations in the United States.
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Riot Platforms Expands Bitcoin Holdings, Improves Performance After Bond Issuance
Riot Platforms announced the acquisition of 667 BTC for $594 million from a recent convertible senior bond offering. With this purchase, the company increases its reserves to 17,429 BTC, valued at $1.8 billion, according to the current market price.
This move, added to previous acquisitions, has boosted its BTC per share return to 37.2% so far this year.
With the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC. As a result, Riot has increased its holdings to 17,429 BTC, currently valued at $1.8 billion based on the… pic.twitter.com/t68Uy8nbHU
— Riot Platforms, Inc. (@RiotPlatforms) December 16, 2024
Despite a rocky start to 2024, marked by a 25% drop in its shares following the latest Bitcoin halving, Riot has seen a recent recovery, rising more than 20% in five days. Driven by the interest of Starboard Value and the diversification of its facilities.
Anchorage Digital obtains BitLicense in New York and plans to offer services in 2025
Anchorage Digital, a Cryptocurrency bank, announced that its New York subsidiary has received approval from the state Department of Financial Services (NYDFS) to operate under a BitLicense. This license will allow the company to provide regulated cryptocurrency trading services from 2025, as confirmed by its CEO, Nathan McCauley.
With this move, Anchorage is positioned to offer safer and more efficient operations in one of the most strictly regulated markets in the United States. However, at the time of the announcement, the NYDFS had not yet updated its official list of licensed companies, which currently includes 33 entities since the implementation of the BitLicense in 2015.
Chrystia Freeland resigns as Canada’s finance minister after disagreements with Trudeau
Chrystia Freeland, Deputy Prime Minister of Canada since 2019 and Minister of Finance since 2020, announced her resignation from the cabinet after disagreements with Prime Minister Justin Trudeau. According to a publication by Freeland in X on the 16th, her decision responds to disagreements over how to handle the possible trade sanctions that Donald Trump, president-elect of the United States, could impose on Canada.
“We must take that threat very seriously,” Freeland declared, criticizing political strategies that she said could undermine trust in the government. Trudeau had offered her another cabinet position, but Freeland opted to leave the Finance Ministry.
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