Ripple's RLUSD Gets the Green Light!

Ripple’s RLUSD stablecoin officially received approval from the NYDFS.

Danielle du Toit
December 11, 2024

Here's what we've got for you today:

Ripple’s RLUSD stablecoin has officially received approval from the NYDFS.

RLUSD was first announced in April of 2024, and it is designed to compete with market leaders like Tether (USDT) and Circle (USDC).
Ripple has big plans for the stablecoin, and estimates that RLUSD could reach a $2 trillion market cap by 2028.
Ripple partnered with major exchanges, including Uphold, Bitstamp, and MoonPay, by October 2024 to boost RLUSD’s adoption and prepare for its official launch.

Bitwise published its 2025 crypto predictions, and projected major developments for Bitcoin and tokenized assets.

Bitwise forecasts that Bitcoin’s price will surpass $200,000 by 2025, and has the potential to exceed $500,000 if the U.S. establishes a strategic reserve of 1 million BTC.
Ethereum is expected to reach $7,000, while Bitcwise believes that Solana could surge to $750.
Investor interest in Bitcoin ETFs is also predicted to rise, and could even surpass 2024’s record-breaking inflows, driven by improved regulatory clarity and increased institutional adoption.

According to Derive, data shows that Ethereum has less than a 10% chance of hitting the anticipated $5,000 mark by the end of 2024.

According to Derive's Sean Dawson, the likelihood of Ether (ETH) reaching $5,000 by Dec. 27 peaked at 16% but recently declined to just over 8%.
At its current price of close to $3,669, ETH would need a 37% increase to hit the $5,000 mark.
Not everyone agrees with this projection, and crypto trader CoinMamba is still very optimistic about their $5,000 year-end target for ETH.

Microsoft's shareholders rejected a proposal from the National Center of Public Policy Research to invest in Bitcoin.

Microsoft shareholders voted against a proposal by the National Center for Public Policy Research (NCPPR) to allocate 1%–5% of profits to Bitcoin.
The proposal urged Microsoft to consider Bitcoin’s potential as a transformative financial asset that could generate trillions in value and reduce shareholder risks.
Microsoft’s board pointed out Bitcoin’s volatility as a key risk, and is still confident in the company’s current strategies.

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