Ripple CEO Denies Claims He Was Attacking Tether
The Tether community assumed the Ripple CEO made an attempt to pull USDT down to position its incoming stablecoin.
The Tether community assumed the Ripple CEO made an attempt to pull USDT down to position its incoming stablecoin.
Ardoino tackled Ripple’s Garlinghouse for deliberately spreading FUD and praised Tether’s efforts at ensuring USDT safety and compliance.
The SEC says Ripple’s intention to issue a stablecoin, an unregistered asset, is further proof that it will continue to break the law.
With talks with investors continuing and Ripple valued at an astounding $11 billion, expectations for the company’s future IPO plans are growing.
Steingraber stated that while the price of XRP is currently determined by supply and demand on exchanges, traditional finance institutions such as Bank of America are restricted from using the asset due to regulatory requirements
The latest argument centers on the accusation that the exchange discriminated against institutional investors during the sale of XRP through its On-Demand Liquidity (ODL) platform.
Considering Ripple’s position and reputation in the crypto ecosystem, the new stablecoin is likely to be a tough rival for USDT and USDC.
According to the Ripple CEO, Bitcoin ETF market and the network’s upcoming halving will spike the crypto market by 100% this year.
The prospect of an XRP ETF being backed by prominent financial institutions has further fueled speculation about the potential for XRP to reach new heights.
The new Ripple-backed stablecoin on the XRPL and Ethereum networks will significantly improve XRP’s liquidity through the recently unveiled AMM.