Ripple's Upcoming RLUSD Stablecoin
Ethereum's On-chain Activity Hits Record Amid Low Fees, FBI Warns Crypto Firms About Social Engineering
Ripple CEO Brad Garlinghouse said at the Korea Blockchain Week that the company's new USD-pegged stablecoin RLUSD is only weeks away.
The stablecoin is to be fully backed by USD deposits, short-term Treasuries and other cash equivalents, then tested with enterprise partners, and launched on XRPL and Ethereum. It was announced in April.
The plans for RLUSD began when USDC briefly depegged in March 2023 - Brad said they saw it as an opportunity to offer an alternative from a "credible player".
XRP Ledger has recently been boosted in the form of Ether-compatible smart contracts that will let developers create exchanges, issue tokens, and do other DeFi operations.
Market Update
News
Ethereum's On-Chain Activity Hits Record Highs As Fees Plunge 99%
With the significant drop in transaction fees, more users are finding it feasible to conduct transactions on the Ethereum network. Another factor contributing to Ethereum's recent success is the introduction of spot Ether ETFs. By the end of August, over $2 billion had been traded in spot Ether ETFs .| Read More
ZKsync Developer Matter Labs Lays Off 16% of Workforce Amid Market Changes
Matter Labs, the creator of the Ethereum scaling solution ZKsync, has recently announced a significant restructuring effort that includes laying off 16% of its workforce. This decision impacts 24 employees, reducing the company's staff to 126. Read More
Ethereum Lending Markets Face $436M Liquidations in August
In August, Ethereum's on-chain lending markets faced a significant challenge, experiencing $436 million in liquidations. This event marked the second-largest liquidation volume in history for these markets. The primary reason for the surge in liquidations was a 22% drop in the price of ETH. | Read More
FBI Warns Crypto Firms of North Korean Hackers That Use Social Engineering
The FBI has recently issued a warning about North Korean hackers aggressively targeting employees in the cryptocurrency and DeFi sectors. These hackers are employing sophisticated social engineering tactics to deceive individuals and steal funds. | Read More