It was another busy week at CoinDesk as the new Trump Administration continued to roll out a pro-crypto agenda and the industry laid the groundwork for growth in the new cycle.
Ripple was at the center of the news. Ondo Finance announced it would offer tokenized treasuries on Ripple’s XRP Ledger, Kris Sandor reported. The San Francisco company also said XRP Ledger would offer clawback features, enhancing liquidity for Ripple’s dollar-pegged stablecoin RLUSD, Shaurya Malwa reported.
Meanwhile, CEO Brad Garlinghouse lobbied for XRP to be included in any national crypto reserve, riling Bitcoiners who say the reserve should be bitcoin-only. Omkar Godbole had that news, along with several incisive market analyses (his Daybook daily update is a must-read).
In other protocol news, Cardano rolled out a hard fork (“Plomin”), enabling decentralized governance. And Avalanche said its December upgrade resulted in a 75% drop in transaction costs for users, a big win for that project. Meanwhile, Movement Labs unveiled a developer mainnet ahead of a much-anticipated L1 launch in February.
Stablecoins, the most traded form of crypto, surged past a $200 million market cap. And Tether, issuer of the leading stablecoin, USDT, announced that it made $13 billion in profit for 2024
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Author: Benjamin Schiller
