The SEC aided Ethereum in overtaking XRP as the second most valuable cryptocurrency, according to Ripple's CEO.

The CEO of Ripple says that his firm has been handled unfairly, giving Ethereum the upper hand. Brad Garlinghouse, the CEO of Ripple, has been speaking out on the health of the crypto market and regulations, and a resentment of the financial regulator's approach to Ethereum looks to have surfaced.

On Thursday, during the DC Fintech Week virtual conference, Ripple CEO Brad Garlinghouse said that Ethereum has received governmental approval, allowing it to exceed his company's XRP coin.

The Securities and Exchange Commission (SEC) of the United States has been investigating Ripple (XRP) for concerns that it is an unregistered securities. Ripple requested information from the SEC under the Freedom of Information Act in January, asking why it didn't consider ETH to be a security. A district court authorized the corporation to depose a former SEC officer who determined in 2018 that ETH was not a security six months later, in July.

Garlinghouse plainly believes that his company has been treated unfairly, and that Ethereum's subsequent success is owed, at least in part, to the SEC's more favorable approach. It is influencing the market, he said, adding:

"XRP was the second most valuable digital asset just a few years ago." ETH has definitely skyrocketed since it became evident that the SEC has given it a pass, and that clarity has helped.”

In late December 2017, XRP was the second most valuable crypto currency by market capitalization. It has since dropped to eighth place, whereas Ethereum has remained in second place since then.

Garlinghouse also said that the SEC has been active in its anti-crypto stance, citing recent moves against his business and Coinbase as examples. In response to Ripple's legal dispute with the Securities and Exchange Commission, he stated that the SEC professes to be safeguarding customers, but:

"Nearly 50,000 XRP holders in the United States are attempting to sue the SEC for 'protecting them.'"

A US district court decided earlier this month that individuals who own the company's XRP coin may not be named as defendants in the litigation. The SEC's request to extend the date for completing discovery in its continuing case against Ripple Labs and its officials was granted, and the deadline has been moved out to January 14, 2022.

Any additional delay in settling this lawsuit, according to Ripple, will "cause severe harm to the defendants' and XRP holders' interests." The court accepted this, but ruled that the "extra time requested by the SEC will have no impact on the case's scheduling."

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The 'extraordinary' development of XRP is discussed in Ripple's Q3 report, 2021.

XRP investors should consider the SEC versus Ripple Labs litigation in the United States, as well as the blockchain company's actions in other countries, before making investment decisions. After the crypto market meltdown in May 2021, Ripple's 2021 Q3 market report revealed various insights on XRP's worldwide performance.

Team Ripple, be water, was eager to announce the “unprecedented” rise of its on-demand liquidity [ODL], which let clients to lessen their reliance on pre-funded accounts.

According to the study,

"Since last year, RippleNet transaction volume (measured in dollars) has more than quadrupled, while ODL transactions have increased by 130 percent quarter over quarter." In the third quarter, ODL transactions accounted for around a quarter of overall volume. The growth and use of ODL are responsible for all XRP sales this quarter."

In terms of XRP sales, Ripple reported $491.74 million in net acquisitions in the third quarter. In the second quarter, this figure was $157.92 million.

However, what does the future hold for the XRP ecosystem? RippleX is working towards introducing federated sidechains to the XRP Ledger Mainnet [v1.8], according to the article. According to reports, an announcement will be made in November.

Ripple, the world traveler

Ripple has been emphasizing the relevance of cross-border ODL in recent months. The San Francisco-based blockchain firm established collaborations with the Middle East's Pyypl fintech firm and the UAE's Al Ansari foreign exchange.

Apart from that, Ripple collaborates with public stakeholders and recently launched a CBDC pilot with the Royal Monetary Authority of Bhutan.

The research added, "When it comes to XRP's on-chain insights,"

"On the XRP Ledger, there were a total of 88.8 million transactions last quarter, totaling $69.3 billion in volume and 74.5 billion XRP traded."

Despite this, the study stated that XRP's volume measure was "weaker than typical" in the third quarter. XRP's average daily volume is said to have dropped by more than half in Q3. Team Ripple, on the other hand, maintained that this was the case for most digital assets at the time.

Letters from the family
The SEC versus Ripple Labs case will go on next year, since the court has extended the discovery deadline to January 14, 2022. The SEC previously commented on "strong" XRP sales. Ripple, on the other hand, retaliated, stating that their cryptocurrency was falling behind Bitcoin and Ether. XRP was trading at $1.11 at the time of publication.
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When asked about the price of XRP, Belfort says he'll'settle for $10,' and shows his holdings.

It's no surprise that Jordan Belfort, the now-famous "Wolf of Wall Street," was galloping around the Bitcoin scene. His next forecast for XRP, on the other hand, left many people perplexed, while others were ecstatic at the prospect of what this may imply for the market.

XRP in Belfort's luggage

Belfort used Twitter to keep his fans up to date on his upcoming lecture in favour of non-fungible tokens (NFTs). Belfort disclosed his six-figure XRP holdings when an XRP fan questioned him about his opinions on the impending Ripple versus SEC case. Belfort confessed, Belfort, a former stockbroker and convicted crook, made a daring forecast, given the price of the digital currency and its ongoing dispute with the Securities and Exchange Commission [SEC] in the United States. The fact that he was interested in the controversial item was even more apparent.

To put things in perspective, many XRP supporters were anticipating a parabolic surge in the currency's value. The market valuation of XRP, according to Belfort's estimate of $10, is close to $500 billion.

Is XRP on its way to $10?

XRP's price has been responding to Bitcoin's volatility, although maintaining support near $1. In October, Bitcoin increased by about 43%, while Ethereum, the second-largest cryptocurrency, increased by more than 50%. XRP, on the other hand, grew by 20% within the same period. While other cryptocurrencies have reached fresh all-time highs, the value of XRP has yet to reach $3.

While many XRP investors are anxious about the current case, Ripple has been expanding its reach globally. Ripple has bridged the gap between various banks throughout the world with its on-demand liquidity solution, and it is driving development in the Asia-Pacific area.

Aside from that, it recently announced a cooperation with a Middle East and African blockchain-based financial services technology business to utilize XRP for cross-border payments.

In fact, according to Santiment statistics, in October, XRP saw a spike in social media interest as well as the number of addresses participating on the XRP network. In addition, Coinbase CEO Brian Armstrong stated that the case was "doing better than expected." According to Armstrong.

"The Ripple lawsuit appears to be progressing more quickly than anticipated. Meanwhile, the SEC is learning that going after cryptocurrency is politically controversial (because to consumer harm)."

XRP and Ripple have received backing from a number of industry heavyweights as well as several countries, such as Japan. Although there was no strategy for XRP development as of yet, the team of developers, together with the wider community, might campaign for the coin's adoption, similar to Ripple. Until then, determining the token's true worth will be challenging.

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Vitalik Buterin's Shiba Inu Tokens, which he burned in May, are now worth $28 billion.

Vitalik Buterin's 410,24 trillion Shiba Inu tokens, which he burnt in May, are now worth about $28 billion.

Vitalik Buterin, Ethereum's co-founder, burnt 410,24 trillion Shiba Inu tokens in May, which are currently worth $27.8 billion. He also gave 50 trillion SHIB ($3.4 billion at today's rates) to India, which was fighting the COVID-19 illness at the time.

A Difference of Five Months

Since the beginning of 2021, Dogecoin's success has spawned a slew of imitators attempting to capitalize on the cryptocurrency's popularity. Shiba Inu is arguably the most popular (SHIB).

By mid-May this year, Vitalik Buterin, a Russian-Canadian programmer and one of Ethereum's Co-Founders, had 50 percent of the coin's entire supply. However, he immediately chose to donate 50 trillion SHIB tokens to the India Covid Relief Fund. Surprisingly, he destroyed 90% of his remaining Shiba Inu coins (410.24 trillion tokens) a week later and promised to donate the rest to charity.

The deal was valued $6.74 billion at the time of the fire. However, in recent weeks, SHIB has risen dramatically against the dollar, bringing the total value of this hoard to a staggering $27.8 billion.

The Shiba Inu in the News

What began as a crypto joke aimed at becoming a Dogecoin-killer has risen by over 100,000,000% since the start of this year. Huge popularity (because to its connection to DOGE), people's persistent desire to gain rapid cash over hype, and its low price were all elements that propelled SHIB to its apex.

The meme coin mania became so large that Binance began allowing consumers to exchange it in May. SHIB's stock jumped by 60% in a couple of minutes after the news broke. Shiba Inu, on the other hand, is a relatively new token that "poses a larger than average risk," according to the world's top trading platform. As a result of the increased price volatility, investors should exercise caution while dealing with it, particularly after the listing.

Shiba Inu has distinguished itself from the swarm of meme currencies with the creation of a decentralized exchange and the latest digital collection of Shiboshis, but investing in the currency is still regarded very hazardous.

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Ardana, a Cardano stablecoin system, has raised $10 million in its newest fundraising round.

New stablecoin platform appears to be popular among private equity investors. Ardana, a Cardano (ADA)-based stablecoin ecosystem, has acquired $10 million in early funding from a consortium of investors led by Three Arrows Capital and Ascensive Assets.

Ardana's CEO and co-founder, Ryan Matovu, made the following statement on the deal:

"As the world's first all-in-one stablecoin ecosystem based on Cardano, our platform gives consumers easy access to liquidity, which is a constant issue in the hyper-competitive DeFi market." We can also use Cardano's speed, scalability, and security to provide a decentralized financial solution that works for everyone, and we'll soon be supporting on-chain foreign exchange."

On the network, users may freely transmit, receive, store, borrow, and lend the stablecoin dUSD. It will be completely collateralized with cryptocurrencies such as Cardano and will have a 1:1 exchange rate with the US dollar (ADA).

According to Ardana's roadmap, it wants to perform a public auction of its secondary token, DANA, for protocol governance. The sale will take place later this year, with 35.625 million out of 125 million tokens available for $0.30 to $0.60 apiece, according to the project's creators. By the second quarter of next year, the Danaswap team hopes to launch a decentralized exchange, or DEX. For liquidity providers, Ardana says Danaswap will have minimal slippage and offer farming potential.

Cardano presently offers cheaper transaction costs than other Ethereum networks, which may be beneficial for stablecoin adoption. Users pay an average cost of $0.43 for each Cardano transaction, according to Bitquery and BitInfoCharts, compared to $47.23 for Ethereum at the time of writing. Since the Alonzon Fork last month, which enabled smart contract capability on its blockchain, Cardano's development activity has accelerated.

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Facebook's New Name Will Be Meta, Says Zuckerberg

"[Facebook] is an iconic social media brand," the CEO added, "but it increasingly doesn't encapsulate everything we do." On Thursday, Facebook CEO Mark Zuckerberg announced that the company will change its name to Meta.

According to Zuckerberg, the firm opted to rebrand since the term Facebook doesn't entirely correspond with its future goal, and that the company would now be "metaverse-first, not Facebook-first" moving forward.

"Today, we're known as a social media business, but our DNA is as a technology firm that connects people, and the metaverse is the next frontier, just as social networking was when we first started," says the CEO.

On Monday, Zuckerberg stated that the business will invest over $10 billion in its metaverse division during its quarterly earnings call. Facebook Reality Labs, which will supervise the company's virtual and augmented reality activities, will have its own set of financials to disclose.

"This is not going to be a lucrative investment for us anytime soon," he said, adding that the business expects the $10 billion investment to grow much greater in the years ahead. "The metaverse, on the other hand, will be the holy grail of social encounters."

The makeover comes amid a storm of criticism directed at the multibillion-dollar corporation. The Wall Street Journal initially reported on hundreds of stolen internal papers from whistleblower Frances Haugen, which show that Facebook misled its investors and the public about how it handled disinformation and hate speech on its platforms.

Zuckerberg, on the other hand, told The Verge that the current scandal has "no bearing on this." Even while I believe some individuals would like to create that link, I believe it is a silly thing to do. If anything, I don't think this is the kind of climate in which you'd want to launch a new brand."

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Dogecoin and SHIB Rival Plaster Ads Across London as Floki Inu Pumps 223 percent

Following Shiba Inu's meteoric ascent this week, Floki Inu continues to soar amidst transaction tax revisions and a marketing push. Shiba Inu was the major meme crypto winner yesterday, extending its recent rally and surpassing Dogecoin in total market worth. But it's newer upstart competition Floki Inu that's generating the most talk today, with shares up more than 200 percent in the last day.

According to CoinGecko, Floki Inu is presently priced at $0.00019519 per coin, named after Elon Musk's Shiba Inu pet. Earlier today, the cross-chain Ethereum and Binance Smart Chain token, which launched in July, reached an all-time high of $0.00021552. The token began its significant ascent yesterday and has continued to grow today, with a current gain of 223 percent in the previous 24 hours.

While it's often difficult to identify why a meme coin spikes—especially because they're so subject to shifting social media sentiment—there have been a handful of significant changes recently around Floki Inu.

First, the crypto token's founders recently started a marketing campaign across London's public transportation networks, including bus and subway station advertisements. Investors who missed out on Dogecoin's early buzz could instead buy Floki Inu, according to the advertising.

While the commercials first appeared in October, a slew of news pieces on the campaign just hit the streets this week, including one in the Financial Times. 



Second, the developers have modified the fee structure dramatically, cutting the transaction tax and eliminating "reflections," or royalties handed out to other holders depending on overall transaction volume. SafeMoon, another joke currency that was popular earlier this year, used a similar reflection technique.

The makers of Floki Inu cited regulatory concerns as a major reason for deleting the royalty-like incentives feature in a twitter thread released Wednesday. Payments to token holders that resemble royalties might make a token appear to be an unregistered security, a problem that certain NFT initiatives have lately faced.

The message adds, "We're in negotiations with many large CEXs regarding listing FLOKI." “Compliance is the first priority for these exchanges. In other words, even if FLOKI were to be classified as a security, obtaining a listing would be difficult. This is fixed by removing reflections!"

Floki Inu's transaction fee has been reduced from 8% to 3%, and the money raised will be utilized to expand the meme token's broader ecology, including a potential "Valhalla" video game metaverse project. Floki Inu claims more than 170,000 total holders on its official website, albeit that number may have grown in light of recent activity. Over the previous 24 hours, CoinGecko indicates a total trading volume of more over $203 million, a new high for the cryptocurrency.

According to CoinGecko, the value of Floki Inu has increased by approximately 250,000 percent since its introduction in July.

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Santiment: XRP On-Chain Data Flashing Signal That Has Historically Lead To Price Rises

Santiment, a blockchain analytics business, predicts that the price of XRP Ledger's native asset (XRP) would rise based on two measures. On Twitter, Santiment claims that an increase in the number of addresses on the XRP Network, as well as an increase in social media mentions, indicate that XRP's value may climb.

"XRP is gaining traction on social media, and our data reveals that in the month of October, there was a considerable increase in the number of addresses communicating on the #XRPNetwork.

Historically, these divergences have always resulted in price increases." According to CoinGecko, XRP is trading at $1.01 at the time of writing, down 10% in the previous 24 hours.

According to the blockchain analytics organization, Bitcoin's (BTC) recent price surge to a new all-time high boosted address activity.

"As address activity currently visits over [one million] addresses at a pretty regular rate, it's a positive indicator that addresses are continuing to engage with the BTC network on an expectedly frequent frequency to justify rates."

Bitcoin's mean dollar invested age declined in the aftermath of the flagship cryptocurrency's all-time high, demonstrating that markets "can and will survive," according to Santiment. The measure determines the average age of all Bitcoins based on when they were purchased.

"[Bitcoin's] mean dollar invested age has declined for the first time since March, with 3.3 days lost in the last week."

An protracted decrease in mean dollar age is a significant indicator that markets may and will prosper owing to previously inactive addresses ultimately commencing to circulate substantial sums of tokens in most prior bull runs."

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FTX, a cryptocurrency exchange, has purchased a Super Bowl advertising slot that will be seen by over 100 million people.

FTX, a digital asset exchange, is said to be introducing cryptocurrency to the upcoming Super Bowl. According to Bloomberg, the exchange just purchased an ad space for the event on February 13, 2022, for an unknown sum.

The National Football League's (NFL) championship game is one of the most-watched events in the United States, and FTX chief executive officer Sam Bankman-Fried says the exchange was inspired to seek a commercial ad because of the large viewership.

According to Bankman-Fried,

"Throughout the year, our message has been that crypto is secure, accessible, and ready for general use.

We encourage everyone to take a look, and we're here to assist them along the way. There is no larger, more widespread event than the Super Bowl to spread a message like that."

96 million people watched the last Super Bowl. Because of the event's prominence, FTX has the opportunity to advertise cryptocurrency and its exchange to millions of sports lovers.

The ad's substance and pricing were not disclosed by FTX, although NBC has been charging as much as $6.5 million for commercial slots in Super Bowl LVI.

The ad buy comes as the exchange tries to court sports-related clientele. This time last year, FTX secured the naming rights to the NBA basketball team Miami Heat’s home arena for $135 million.

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The launch of COTI Mainnet 2.0 has been scheduled for next week.

COTI has announced that, after more than a year of preparation, it is finally ready to deploy its mainnet 2.0. COTI (Currency of the Internet), a digital financial platform, has announced that it would launch its long-awaited mainnet 2.0 next month.


COTI Mainnet 2.0 is now operational.

The firm informed CryptoPotato about its planned mainnet version 2.0 launch, adding that the upgrade would provide increased scalability and performance, as well as an optimized COTI platform.

“With the introduction of Mainnet 2.0, COTI's network will be able to expand even further, enabling a wide range of financial technologies and use cases for enterprise and merchants, as well as COTI users,” says the company.


According to the release, the new network version has been in development for over a year, and thousands of man-hours have been spent to assuring the upgrade's success. COTI's commitment to the development of its mainnet 2.0 has paid off, as the update is set to launch on November 2, 2021, at 2 p.m. UTC, according to the corporation.

Users will be able to utilize the new service right away, and it is expected to provide an expanded and stable digital platform without the need for any prior technical expertise. 

Increasing Transaction Processing Speed

Despite the fact that COTI's Trustchain infrastructure, which is incorporated into the existing mainnet, can handle over 100,000 transactions per second (TPS), the project has made substantial improvements to its database in version 2.0 to achieve quicker transaction processing.

Updates to the database were made to the network's storage engine RocksDB and the Queue management system, among other things, to increase transaction confirmation speed.

Some of the flaws discovered in the current version will be fixed in the next upgrade. COTI said it successfully completed a pilot program by shifting its node operators to the new version's testnet in preparation for the release, ensuring a smooth transition when it formally migrates to mainnet 2.0.


Clients can use COTI's payment services.

The news comes less than a month after COTI teamed with Simplex to provide its clients bank accounts and visa debit cards.

According to the statement, the service would give customers easy access to the global monetary ecosystem while also bridging the fiat-to-cryptocurrency divide.

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After gaining in consumer financing, Litecoin transactions are at an all-time high.

Several recent agreements have made it easier to utilize Litecoin for regular payments. After dipping below 100,000 in early October, the number of Litecoin (LTC) transactions has risen to above 140,000 in recent days. The Litecoin Foundation had tweeted three days before announcing the debut of their LTC Visa Debit card, which was powered by fintech startup Unbanked.


Customers would first register for a Litecoin Card account, put LTC into a specified wallet address, pass a know-your-customer check, and then obtain a virtual Litecoin Card, according to the card's webpage. The sign-up procedure, according to the service, takes less than five minutes.

The Litecoin card will allow users to spend LTC at any digital business that accepts Visa as a payment method, which the Litecoin Foundation expects to be over 50 million.

The Litecoin Foundation followed up with another tweet on Verifone's BitPay partnership the next day. Verifone is one of the largest point-of-sale payment processors in the world, processing almost $440 billion in yearly transactions. BitPay is a cryptocurrency payment processor that processes over 60,000 consumer Bitcoin (BTC), Ethereum (ETH), LTC, and other cryptocurrency transactions per month.

In 2011, Litecoin was developed with the declared goal of becoming "the silver to Bitcoin's gold." According to cryptwerk statistics, there are currently 3,111 establishments accepting LTC as payment directly, up from 2,230 in the same period last year. Merchant acceptance of the digital currency is now somewhat less than half that of Bitcoin.

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In a possible sign of froth, SHIB overtakes DOGE as the top dog, while Bitcoin retreats: Markets wrap

As evidence of market froth emerges, SHIB and DOGE compete for 'top dog' title, while BTC retreats. DOGE and SHIB are battling it out for the title of best memecoin. Before investing large sums of money in memecoins, it is critical to evaluate hash rate as a proxy for network security.


Due to the huge activity surrounding the memecoin, SHIB is burning a significant quantity of ETH. When compared to DOGE, SHIB looks to have a more evenly distributed token distribution.

Due to the history of dog coin rallies leading to larger market selloffs, prudence is advised. While BTC may have a short-term correction owing to general market froth, permanent financing rates have decreased, while long-term funding rates have increased.

Highlights of DOGE

Dogecoin (DOGE) is a proof-of-work technology created by Billy Markus and Jackson Palmer in 2013 after a fork from Litecoin (LTC). The project was originally designed as a joke and is based on a Dog meme.

“I just made it up as I went along, with no expectations or plans. In a reddit post, Billy Markus stated, "It took around 3 hours to build."

DOGE now has a market valuation of around $32 billion. Mark Cuban and Elon Musk, both billionaires, have expressed interest in the project. The Dallas Mavericks, a Mark Cuban-owned NBA club, stated in March that they will begin taking DOGE as a form of payment.

DOGE presently lacks smart contract features and has no ecosystem developed around it, hence there are only a few use cases in its current state. Elon Musk has already said that he is working with DOGE engineers to assist solve this, but no new information has been released since then.

According to CNBC, DOGE accounted for 62 percent of the $30 billion corporation Robinhood's (HOOD) crypto trading income in Q2 2021.


Highlights from the SHIB

Shiba Inu (SHIB) is a self-described "DOGECOIN KILLER" who began as a joke based on the Shiba Inu dog meme. Because it's an ERC-20 token, it's now protected using the proof-of-work protocol, but if Ethereum merges, it'll switch to proof-of-stake. It was established in 2020 by a person or people using the alias "Ryoshi."

The designers brought a lot of attention to SHIB by giving Vitalik Buterin, the co-founder of Ethereum, 410 trillion of the 1 quadrillion supply of the cryptocurrency for free. According to Yahoo, Vitalik transmitted 90% of the remaining amount to a dead address, thereby removing the coins from circulation forever, and the remainder to a charity. Today, there are 410 trillion S$ in circulation.

SHIB offers a lot more use cases than DOGE because it is built on top of Ethereum and includes smart contract capabilities. Shibaswap is a website that has around $400 million in total value locked (TVL) and allows users to interact with NFTs, a decentralized exchange, liquidity mining, and other features. As a result, there is no doubt that SHIB has more applications than DOGE at current time.

Despite being a major admirer of DOGE and memes in general, Elon Musk stated on Twitter on Sunday that he has no SHIB. SHIB has officially eclipsed DOGE as 'the top dog' and the 9th largest coin by market cap in the previous 24 hours, with the 3rd highest traded volume among digital assets.

Comparison of Holder Base and Hash Rate

When considering to invest in digital assets, it's vital to consider the hash rate to get a sense of how secure a network is. The hash rate is the amount of computational power committed to network security and transaction processing.

On a logarithmic scale, the hash rates of BTC, ETH, and DOGE are shown in the graph below. The ETH and DOGE hash rates would not be seen if a logarithmic scale was not utilized since the hash rate on the BTC network is astronomically greater.

Non-Fungible Tokens (NFTs)

A notable sale took place earlier today, with CryptoPunk #1422 selling for 500 ETH.

Trading data from OpenSea and Solanalysis of some of the top Solana and Ethereum projects can be found in the photos below:



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As Ripple announces a new ODL partnership, XRP gains 7% in value.

As Ripple continues to extend its corridors throughout the world, XRP has been flying in the monthly chart, with a profit of 7.2 percent. As of press time, the seventh largest cryptocurrency by market capitalization is trading at $1,01, with a daily chart correction of 10.3 percent. XRP appears to be reacting to the market's overall downward trend, as Bitcoin, Ethereum, and other cryptocurrencies in the top ten by market cap continue to fall. The futures business has been heating up as a result of the recent spike in the aforementioned currencies, according to NewsBTC.


The bullish momentum that the bulls have established in the past has been harmed as a result of this. In the case of XRP, the fact that it has been able to maintain increases over longer durations is a favorable indicator. Since Ripple was able to maintain and push back against the US Securities and Exchange Commission in their lawsuit for suspected securities sales, the attitude around XRP has shifted optimistic.

Moreover, payment corridors, which are one of the most essential use cases for the XRPL Ledger and its native coin, are improving. These businesses employ Ripple's On-Demand Liquidity (ODL) payment technology, which is based on XRP, and have been harmed as a result of the SEC's legal action.

The daily volume for these firms has increased, according to the Liquidity Index Bot, an ODL payment corridors monitor. After becoming negative in May 2021, the XRP/AUD payment corridors show some signs of recovery, as seen below. Other payment channels have seen a similar or even greater growth. The volume reported by these businesses is indicative of the levels of acceptance for XRP and implies the token is enjoying a resurgence in demand because they are based on ODL.


XRP Makes Its Debut in the Middle East and North Africa, and Ripple Enables More Adoption

Because the payment solution firm just announced a relationship with Pyypl, demand for the token might continue to rise in the coming months. In the Middle East and North Africa (MENA), the partners will create a new payment channel.

According to data provided by the payment provider, the MENA region received $78 billion in remittances in 2020 alone. As nations like the United Arab Emirates (UAE) and Saudi Arabia "transition to digital" payment systems, the cooperation has the potential to enroll millions to the XRPL Ledger and ODL.

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FRIETSHOP Wetteren Restaurant in Belgium now accepts XRP.

As crypto acceptance grows, the Ripple-affiliated XRP cryptocurrency is now accepted as payment at the Belgian restaurant FRIETSHOP Wetteren. According to a message from the Belgian restaurant FRIETSHOP Wetteren's Twitter account, the eatery began accepting XRP as payment for meals on Monday.


The SEC's legal action has delayed XRP adoption.

@MackAttackXRP, a well-known XRP community member, posted the tweet. As a result, XRP adoption continues. CoinDesk revealed this summer that Paraguay's Universidad Americana will take XRP, as well as the two most popular cryptos – Bitcoin and Ethereum – as payment for educational courses and scientific degrees.

The legal complaint filed by the US Securities and Exchange Commission against Ripple Labs, as well as two of its highest-ranking officials – the CEO and co-founder – in December of last year seems to have hindered XRP adoption.

XRP trading was suspended by many crypto exchanges in January as they turned their backs on the cryptocurrency. Coinbase, Binance U.S., Bittrex, and Bitstamp are among these exchanges. The XRP community has been sending out regular tweets to Coinbase, requesting that the currency be restored on the platform, but the token has yet to be reinstated. Brian Armstrong is a Ripple and XRP supporter.

Coinbase CEO and co-founder Brian Armstrong, as previously reported by U.Today, has responded with a series of tweets. He stated his support for Ripple and XRP in the legal battle with the SEC in them. The Securities and Exchange Commission of the United States threatened to sue Coinbase in August over a loan product the crypto exchange was about to introduce.

The new software was designed to allow users to lend their USDC to other users in exchange for interest. The SEC, on the other hand, approached Coinbase and threatened to prosecute the platform, claiming that the new LEND app was an unregistered securities (the same charge lodged at Ripple over XRP).

Following that, Armstrong tweeted that the regulator has permitted a number of other crypto companies to offer identical products, but only threatened to prosecute Coinbase. Coinbase, he claims, is willing to follow any clear regulation or set of guidelines in this area. The SEC, on the other hand, has made no such offer and is dismissing Coinbase's queries about why the new crypto lending tool may be an unregistered security.

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Ripple launches a low-cost rapid payment solution for the Middle East and North Africa (MENA).

RippleNet, a blockchain cross-border payment network, has unveiled the Middle East and North Africa region's first-ever On-Demand Liquidity (ODL) solution in collaboration with Pyypl. The cooperation, according to a news release, intends to provide quick, low-cost remittances to the region, with a trial project in the United Arab Emirates (UAE).


Ripple hopes to alleviate the problems associated with conventional remittances, which are notoriously delayed and expensive. The business intends to take advantage of the market's massive remittance size, which is expected to reach $78 billion in 2020 for Saudi Arabia and the United Arab Emirates combined.

"Thanks to our exceptional roster of clients, a friendly regulatory climate, and a regional emphasis on the essential reforms in the present financial system, MENA continues to be a vital market for Ripple," said Brooks Entwistle, Managing Director of RippleNet in APAC and MENA.

Ripple is also expanding on the Pyypl ODL framework, which was initially introduced in the Philippines, in order to identify new applications. Financial institutions and small and medium businesses may use ODL to access into previously stranded, pre-funded funds to develop their businesses, according to the corporations.

Ripple's native cryptocurrency, XRP, will not be kept in the UAE, and transactions will not include the local AED currency.

Ripple's development across the Middle East and Asia

Ripple created a new regional headquarters in Dubai in 2020, which prompted this development. The location has allowed the firm to establish a footprint in the area. Ripple has recently escalated the use of its technology to facilitate low-cost cross-border payments. Ripple, for example, introduced cross-border payments utilizing XRP across Asia in collaboration with Malaysia-based cross-border payments operator Tranglo.

This comes after Ripple purchased a 40% share in Tranglo in March as part of its Southeast Asia development ambitions for RippleNet.

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The Graph Launches NEAR Protocol Beta Integration

In its effort to index the Internet of Blockchains, the Web3 protocol has a new partner. The Graph, a blockchain "search engine," has revealed a beta connection with the NEAR protocol, a scalable, low-cost Layer 1 blockchain. Solana, BSC, and Celo are among the various blockchains with which The Graph has declared integration.


A New Blockchain Has Been Added To The Graph.

The Graph, an indexing system that organizes public blockchain data and makes it available to customers, has announced its beta integration with NEAR Protocol, a Layer 1 blockchain protocol that bills itself as a scalable, less costly alternative to Ethereum.

The Ethereum Virtual Machine (EVM), which may be considered of as a global processor that developers can utilize to design and execute Ethereum-compatible smart contracts and dApps, is not used by NEAR. Indexers will be able to create and execute subgraphs for indexing data to NEAR's protocol, and developers on NEAR will have access to The Graph's blockchain data indexing.

NEAR's indexing and query layer, like its blockchain layer, may now become decentralized. This collaboration between NEAR and The Graph might pave the way for a multi-blockchain future. The integrations are intended to save up developers' time to focus on their primary product rather than maintaining a unique indexing infrastructure.

Erik Trautman, CEO of the NEAR Foundation, commented on the announcement today:

"We founded NEAR with the objective of empowering more innovators to develop on blockchain and fostering a more inventive and egalitarian online infrastructure." As we continue to remove hurdles for developers working on a decentralized network, integrating with The Graph is a significant milestone for NEAR."


This isn't The Graph's first big partnership of the year. The Graph Foundation first revealed ambitions to merge with NEAR, as well as Polkadot, Solana, and Celo, in February. The Foundation expressed its support for Binance Smart Chain the following month.

The Graph was created to be an important part of Web3, which proponents see as a decentralized Internet based on blockchains. The Graph's network of Indexers serves such queries on blockchain data, allowing for more efficient searches of blockchain data across several blockchains (such as trading volume data for an Automated Market Maker like Uniswap). To put it another way, The Graph facilitates the discovery and usage of blockchain data by developers. In The Graph ecosystem, there are around 23,000 developers.

NEAR, like Ethereum, is a blockchain that developers may use to create decentralized apps. It is, however, intended to be faster, less costly, and "climate-neutral," in contrast to Ethereum. Today's integration into The Graph coincides with the opening of NEARCON, the NEAR ecosystem's worldwide conference. The NEAR team revealed $800 million in financing for its ecosystem development only yesterday.

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Ampleforth is integrated by Avalanche to boost the DeFi Ecosystem.

Avalanche has released the AMPL token, a stablecoin rival. The AMPL token may now be used in DeFi protocols on the network thanks to Ampleforth's integration with Avalanche.



On Avalanche, Ampleforth Arrives

The most recent protocol to be integrated with Avalanche is Ampleforth. Ampleforth's developer, Fragments Inc., said Tuesday that it has joined the growing Layer 1 network. The AMPL coin, an Ethereum-based unit of account, may now be used to denominate Avalanche DeFi protocols stable contracts.

Ampleforth positions itself as a direct rival to stablecoins backed by central banks. The AMPL token takes a different strategy than other stablecoins in the crypto arena, which depend on conventional banks or lenders to support their stablecoins.

The algorithms of the Ampleforth protocol convert pricing volatility into supply volatility. This implies that, although the price of AMPL tends to oscillate about $1, the quantity of tokens in a holder's wallet fluctuates based on whether the network grows or shrinks. This approach seeks to make AMPL a more decentralized stable unit of account than other current stablecoins.

DeFi protocols on the network will be able to denominate stable contracts utilizing AMPL tokens instead of current stablecoins thanks to the integration with Avalanche, offering a greater degree of decentralization. Fragments Inc. CEO Evan Kuo remarked of the update:

"It's strange that the DeFi ecosystem is so reliant on centralized stablecoins for liquidity and lending collateral right now." With the shifting regulatory environment, it's critical for DeFi to have a decentralized, uncensorable financial building block with some kind of pricing predictability or stability.”

The action by Avalanche comes when the overall value locked in DeFi protocols on the network reaches new highs. Avalanche now supports $8.6 billion in network liquidity and has attracted numerous Ethereum DeFi blue chips, including Aave and Curve.

Avalanche has risen to new highs, along with numerous other chains, since August, owing to a spike in Layer 1 ecosystems. The EVM-compatible network has risen swiftly in market value, and is presently ranked 13th.

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The Beacon Chain's Altair update brings Ethereum 2.0 one step closer.

The Beacon Chain will be updated for the first time later this month with the Altair upgrade, marking the first step toward the imminent Merge. On Oct. 21, the price of Ether (ETH) almost reached a new all-time high before plummeting below $4,000 as the $435 million options expiration on Oct. 22 soured the mood. The Altair update to Beacon Chain will push the Ethereum network one step closer to Ethereum 2.0 on Oct. 27 at epoch 74240. Eth2 will be a 100% proof-of-stake (PoS) network, which the community has been planning for over a year.


Altair is a version to the Beacon Chain that adds support for light clients, pre-validator inactivity leak accounting, a boost in cutting severity, and clean-ups to validator incentives, according to an Ethereum Foundation blog post outlining the work. This is the Beacon Chain's first planned update.

According to the blog article, this update is a "warm-up upgrade" for the Beacon Chain and its clients. The upgrade will essentially introduce numerous major improvements to the Ethereum 2.0 network. 

First, the introduction of sync committees for light client functions allows light clients to easily sync up the header chain, with low computational and data costs.

Second, the incentive accounting reforms bring three main changes: The storing actions use a more efficient bit field format that reduces complexity, the “inactivity leak” quadratic is based per validator instead of globally — which is insignificant for validators that participate more than 80% of the time — and there are some bug fixes in the reward accounting.

Third, the update brings about changes in penalty parameters that make inactivity leaks and slashing more punitive than in the pre-Altair era. There will be three main changes to these parameters. The inactivity penalty quotient is reduced by 25%, which reduces the time it takes for balances to leak by nearly 13.4%. The minimum slashing quotient is decreased from 128 to 64 — the quotient being the minimum fraction of the total balance that a slashed validator will lose. This puts the minimum slashing penalty at 0.5 ETH, double the previous penalty of 0.25 ETH.

The proportional slashing multiplier will be raised from one to two, implying that the slashing penalty will now be doubled for validators slashed within 18 days of that validator. "For example, if you are slashed and within 18 days (in both directions) 7% of other validators are also slashed, your slashing penalty would have been 7% pre-Altair, but it would be 14 percent post-Altair," Jun added.

Such changes in the incentive structure are often crucial for network security, since they reward greater levels of participation and adapt throughout the spectrum as a result. However, since this is a Beacon Chain update, it will have no direct effect on users or decentralized apps (DApps) on the network for the time being.

However, after the transition to Eth2 is complete, this will effect Ethereum users. According to Jun, this improvement will make it easier for consumers to participate in Ethereum 2.0:

"One of Altair's key aims is to create a light client that is simple and efficient enough to function in any context (mobile device, embedded hardware, browser extension, and even within another smart-contract-capable blockchain)," says the company.

The redesign of the rewards and penalization structure for validators will come from the redistribution of validators' advantages, making the incentives for the network's contributions more systematic and easier to grasp using logical thinking.


This is a warm-up for the Merge.

Because the economic stakes are now minimal, it seems plausible that this update is being used as a "warm-up" for future Beacon Chain enhancements. Because the node operators will have previously gone through a chain upgrade at the same time, all further upgrades leading up to the Merge should go more easily — which is especially important because there will be a lot riding on the network in the wake of the Merge.

Ben Edgington, an Ethereum engineer and product owner for Teku, a ConsenSys Eth2 client, talked with Cointelegraph on how Altair relates to the impending Merge: Ethereum.

“The Merge, Ethereum's proof-of-stake update, will be the greatest improvement in its history. The Altair update will provide us with vital expertise that will help us guarantee that when The Merge is ready for deployment in 2022, everything goes well."

When questioned about the effect of the update for Beacon Chain investors, Edgington said that they would not notice a change with Altair in the vast majority of cases. It's simply a "cleaning up" activity that has no bearing on stakers' anticipated returns or how they engage with the chain in any manner.

The adjustment in the punitive parameters will apply to both slashing and inactivity leaks, as outlined in Ethereum Improvement Proposal (EIP) 2982. The decrease of these penalties at the start of the Beacon Chain, according to Edgington, was done to give stakers time to get their bearings and acquire confidence. The Merge will eventually set their penalties to their full "cryptoeconomically optimum levels," whereas Altair will boost them somewhat. He went on to explain how this helps the network's security:


"Beacon chain inactivity has never been exposed, and just 0.06 percent of validators have been cut, therefore these penalties are mostly hypothetical.They're designed to make intentional assaults on the beacon chain very costly. As a result, increasing them with Altair improves the chain's security."

The dynamics of "Ethereum killers" may change as a result of the merger.

Following the London hard fork earlier this year in August, the Altair upgrade is the next big change to the network. The hard fork largely introduced EIP-1559, which modified the transaction pricing mechanism to burn a part of the gas costs, placing ETH on a deflationary path.

The current burn rate of Ether is 5.31 ETH/min, according to statistics from Ultrasound.money, and over 628,000 ETH worth over $2.6 billion has been burnt to far. Supply is now growing at a pace of 2.2 percent per year. This rate of supply will go negative, according to a Merge simulation on the Ultrasound.money website.

After the Merge, the PoS consensus method will be applied to the whole Ethereum network, and scalability is expected to increase when data sharding is implemented. Until then, alternative blockchain networks with a working smart contract utility, such as Solana and Binance Smart Chain, may be able to gain traction due to their cheap gas costs.

Edgington went on to say that the network supports layer-two solutions, which allow customers to pay cheaper gas rates than on the old layer-one network:

"As developers, we don't get too worked up about Ethereum Killers. [...] Meanwhile, layer-2 roll-up technologies on Ethereum are already yielding massive scalability gains and a rich ecosystem of interesting new features, all while remaining totally secure thanks to Ethereum's base-layer security. Over the next year and beyond, protocol updates will support and enhance everything that is occurring on layer-2."

While the Altair update may not have much impact on Ethereum network end users, it is very important for developers and other community members who are looking forward to the Merge in 2022. Earlier this month, 40 officials from the Eth1 and Eth2 projects, the Ethereum Foundation, and ConsenSys convened for a week and successfully established a testnet running PoS with several Eth1 and Eth2 clients.

This breakthrough gives Ethereum a big boost in confidence that it will be able to completely switch to PoS and turn off the Eth1 proof-of-work network.

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Helium and Dish Network have teamed together to extend their crypto-based distributed 5G network.

In return for HNT incentives, Helium has formed a new collaboration with Dish Network, which will expand its 5G network. Any cryptocurrency project's ultimate objective is to acquire universal acceptance by providing a use case that provides real-world value that can be implemented in every household throughout the world.


Helium, a 5G Internet-of-Things-focused initiative, took a key step toward increased acceptance on Oct. 26 when it announced a new relationship with Dish Network, thanks to its user-run wireless network. The agreement will allow Dish Network members to operate Helium nodes and receive HNT token incentives for sharing their 5G wireless service with others in their vicinity, according to the statement.

This is the first major carrier to incorporate the Helium 5G network into its ecosystem, which is a significant evidence of the project's and technology's success.

Helium COO Frank Mong spoke with Decrypt media about the cooperation and what it implies for the Helium network's future.

According to Mong,

“As the first large carrier to join The People's Network, Dish recognizes the potential of blockchain in the cellular sector, and this cooperation is true proof that the HNT incentive model is a strong tool for developing infrastructure at scale. Helium 5G will have a far larger reach with Dish and FreedomFi, allowing customers to benefit from the flywheel of network incentives and apps."


The Helium network is growing at an exponential rate.

The Dish Network agreement is the latest in a year of rapid expansion for the Helium network, which currently includes over 256,000 unique nodes controlled by 93,561 people across the globe. A community vote in April allowed the addition of a second 5G capable network to the protocol via a collaboration with FreedomFi, making this relationship with Dish Network feasible. Helium will be able to support devices such as smartphones, tablets, and laptops as a result of this.

Helium has also gotten a lot of help from hardware manufacturers, who have started developing hotspots compatible with the Helium network, which is anticipated to enhance the network's reach.

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Shiba Inu ($SHIB) is now available on a trading app with over a million users.

Shiba Inu ($SHIB), a meme-inspired cryptocurrency, has been featured on Public, a popular training app with over one million active users that offers both cryptocurrencies and stocks. The trading software introduced cryptocurrencies to its platform earlier this month, according to Business Insider, with a limited range of coins, including BTC, ETH, BCH, LTC, ADA, and others. Dogecoin (DOGE), a meme-inspired cryptocurrency, is also featured on the marketplace.


Shiba Inu has been included following a stellar performance that propelled it to the position of 11th most valuable cryptocurrency by market value. The cryptocurrency's trading volume topped that of Ethereum during a time of significant volatility, which was punctuated by Tesla CEO Elon Musk declaring that he did not possess any SHIB.

A Public spokeswoman said that the program contains volatility warnings for cryptocurrency investors, saying:

Because cryptocurrency prices may be volatile in the near term and follow different patterns than stock market instruments, Public will include Volatility Reminders on crypto pages to help investors make informed selections.


Apex Crypto holds the cryptoassets exchanged on Public, and the trading platform already has over one million active users. It began as a social investment app in September 2019, but it swiftly rose to a market value of $1.2 billion.

Shina Inu proclaims itself the "Dogecoin Killer" and has two more tokens named "BONE" and "LEASH" that are listed on its own decentralized market ShibaSwap. The cryptocurrency, which has a one-quadrillion-unit supply, was established by a pseudonymous person known only as "Ryoshi," and half of it is held on the decentralized market Uniswap.

Apex Crypto holds the cryptoassets exchanged on Public, and the trading platform already has over one million active users. It began as a social investment app in September 2019, but it swiftly rose to a market value of $1.2 billion.

Shina Inu proclaims itself the "Dogecoin Killer" and has two more tokens named "BONE" and "LEASH" that are listed on its own decentralized market ShibaSwap. The cryptocurrency, which has a one-quadrillion-unit supply, was established by a pseudonymous person known only as "Ryoshi," and half of it is held on the decentralized market Uniswap.

The initiative delivered the leftover tokens to Vitalik Buterin to be "burned," but Buterin then contributed 50 trillion SHIB to India's Covid Crypto Relief Fund, which was worth $1 billion at the time. According to CryptoGlobe, barely 2% of Buterin's $1 billion gift had been paid out by August. Over time, prominent cryptocurrency exchanges like as Coinbase and Binance have listed the coin.

Over the past few weeks, Shiba Inu supporters have been signing a petition requesting that commission-free trading site Robinhood (NASDAQ: HOOD) add their coin. At press time, the petition, titled "Kindly request of Robinhood to include Shiba Inu currency," had over 319,600 signatures from supporters and was on its way to 500,000. It claims that Dogecoin ($DOGE), a competing meme-inspired cryptocurrency, has been featured on Robinhood and has been a "great success" for the trading site.

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Shiba Inu ($SHIB) Trading Volume Exceeds That of Ethereum ($ETH) for a Brief Period

The trading volume of Shiba Inu ($SHIB), a meme-inspired cryptocurrency, suddenly topped that of Ethereum (ETH), the second-largest cryptocurrency by market value.

According to cryptocurrency tracker Watcher Guru, SHIB's trade volume eclipsed Ethereum's in the recent 24-hour period. The trading volume of the cryptocurrency has grown, as has interest in it and its price, which just reached a new all-time high.


The cryptocurrency's trading volume has skyrocketed in the past 24 hours after an account promoting the meme-inspired cryptocurrency inquired about Tesla and SpaceX CEO Elon Musk's holdings of SHIB. Musk has been a strong supporter of rival meme-inspired cryptocurrency Dogecoin ($DOGE).

Musk responded with a single word, "none," precipitating a dramatic drop in the cryptocurrency's price, which was down more than 10% at one point. Musk was then questioned about another meme-inspired cryptocurrency, Floki Inu, to which he responded that he had only purchased Bitcoin, Ethereum, and DOGE.

SHIB's trading volume has also increased significantly as a result of its token's recent burn rate. ShibaSwap, the project's decentralized exchange, has updated its listing plans to add more pairings and pools to the decentralized exchange in order to burn $25,000 worth of SHIB and LEASH tokens. Additionally, some token pools on the market created a burning procedure to permanently remove tokens from circulation.

Additionally, the project stated that the recently concluded Shiboshi NFT sale would include a token burning mechanism, and that SHIB transactions with cryptocurrency payments service NowPayments will also have a burn rate.

Along with giving tokens to Ethereum co-founder Vitalik Buterin and locking tokens on Uniswap, these practices have resulted in a dramatic decrease in SHIB's circulating quantity.

Although the cryptocurrency's extraordinary price success has elevated it to the 11th most valuable cryptoasset by market value, not everyone is a fan. Michael Burry, the financier most known for his profitable bet on the housing boom before of the 2008 financial crisis, which was memorialized in the book and film "The Big Short," has revealed he is not a Shiba Inu lover.

Scion Asset Management's head of asset management repeated Coinbase's description of the cryptocurrency and emphasized its massive supply, which surpasses one quadrillion tokens, in a now-deleted tweet, writing:

Simply put, one quadrillion seconds is about 32 million years. One quadrillion days is equal to 2.7 trillion years, or ALL OF TIME, from the universe's inception multiplied by 71,000. In other terms, superfluous.

Supporters of the famous meme-inspired cryptocurrency have been joining a petition to get their coin listed on commission-free trading site Robinhood (NASDAQ: HOOD).

The petition, titled "Kindly request that Robinhood offer Shiba Inu currency," now has over 310,900 signatures and is on track to hit 500,000. It notes that Robinhood just featured Dogecoin, which the trading site describes as a "great success."

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A New Ethereum-to-Cardano Bridge Will Provide Eco-Friendly Options for NFT Creators

Bondly has introduced a new creator-focused feature for the Cardano blockchain. Energy consumption has been a significant issue for the Ethereum network, particularly in light of the blockchain's growing use during the last few of months. The project's developers have been working on transitioning the network to proof of stake, but that will take another year.

Meanwhile, the Ethereum blockchain continues to employ a proof of work technique, which needs a significant amount of energy to validate transactions on the network. As a result, Bondly has provided a new alternative for NFT designers seeking more sustainable and environmentally friendly solutions for their works. However, they do not want to forfeit the NFTs already generated on the Ethereum network.



Bringing Two Worlds Together

Bondly claims in its release that its official Ethereum to Cardano bridge would let developers to use a more environmentally friendly blockchain for their NFTs. This bridge enables creators to transfer their NFT projects from the Ethereum blockchain to the Cardano blockchain.

Cardano's blockchain is four million times more energy efficient than Bitcoin. Ethereum is reported to use the energy equivalent of Columbia, while Cardano consumes the energy equivalent of a single family home. As a result, innovators concerned about the environmental effect of blockchain usage will benefit from a more green and eco-friendly network.

Bondly stated that its cooperation with IOG would enable NFT developers to easily move NFTs produced on the Ethereum blockchain to Cardano without the danger of a transaction being lost or incurring excessive transfer costs.

Cardano Is More Affordable

Additionally to working on an eco-friendly blockchain, artists avoid the exorbitant costs associated with the Ethereum network. With the bulk of NFT minting taking place on Ethereum, network costs have skyrocketed, leaving smaller producers out in the cold. This is not the case, however, with Cardano.

The network touts very reduced transaction costs for all blockchain-based transactions. Additionally, the network provides pricing predictability and steady transaction prices to NFT developers, which eliminates rising fees and the risk of missing transactions owing to insufficient gas fees to fund a transaction.

Bondly will offer a unique series of eco-friendly NFT on the network in commemoration of the bridge's inauguration in 2022. "The establishment of a cross-chain NFT bridge between Ethereum and Cardano represents a watershed point in the shift from legacy blockchain technology to one of the most eagerly awaited 'third generation' networks," stated Harry Liu, CEO of Bondly. As a pioneer of the NFT movement, we continue to play a critical role in laying the groundwork for the next phase of NFT advancement."

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Coinbase CEO Expresses Support for Ripple and XRP Amid SEC Battle

The XRP Army thinks that Brian Armstrong may be hinting towards the cryptocurrency's relisting. Coinbase CEO Brian Armstrong has previously expressed support for Ripple's battle against the United States Securities and Exchange Commission.


Armstrong says in a series of recent tweets that the company's case is doing "better than anticipated."

Armstrong emphasized that attacking the cryptocurrency business and causing harm to investors is "politically undesirable."

The chairman of the biggest American exchange then restated Ripple's oft-repeated argument that the SEC harms customers rather than protects them:

The irony is that they are being attacked by the same individuals they are ostensibly safeguarding.

Rumors of XRP's relisting get fresh life

Armstrong's statements naturally rekindled speculation about Coinbase relisting XRP.

The exchange suspended XRP trading on Jan. 19 after the SEC's filing of a lawsuit against Ripple, precipitating a significant price collapse.

Rumors of a Coinbase relisting began circulating on social media last month when XRP trading pairs began appearing on the company's mobile app, but it turned out to be a glitch.

Despite its legal difficulties, XRP has remained robust, with crypto tycoon Mike Novogratz recently stating that the cryptocurrency's value has quadrupled since the government filed its case.

Coinbase's run-in with the Securities and Exchange Commission

Ripple began partnering with Coinbase after Armstrong publicly chastised the Securities and Exchange Commission for threatening to sue the major exchange over its yet-to-launch loan product.

Even though the corporation complied with the SEC's requests and shelved the product in issue, it seems as if the company has not buried the hatchet with the mighty regulator.

Coinbase requested earlier this month that the agency be replaced with a new cryptocurrency-focused regulator, stating that the regulations enacted in the 1930s were unsuitable for the "technological revolution."

The exchange must persuade Congress to enact laws establishing the drastically different regulatory environment it envisions.

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NFT Monthly Sales Top $947M as Solana Advances Against Ethereum Solana

  NFT sales volume nearly doubled in January despite the market as a whole remaining essentially flat and falling over 82% from January high...

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