Crypto Drama: Ripple’s CEO Plays Hard to Get, Futures Go Live, and Cardano’s Mood Swings!

by

Welcome to the latest episode of “As the Crypto Turns,” where the stakes are high, and the logic is low. Buckle up, folks!

Ripple CEO on XRP: “Maybe we won’t be selling as much”

In a recent tête-à-tête with Bloomberg’s Sonali Basak, Ripple’s head honcho, Brad Garlinghouse, decided to drop a bombshell: “You know, at some point, maybe we won’t be selling as much.” Wow, Brad, what a cliffhanger! It’s like saying, “I might stop eating cake… after this slice.” 🍰

Garlinghouse, bless his heart, pointed out the delightful contradiction in the criticism his company faces. On one hand, they’re accused of hoarding too much XRP, and on the other, they’re chastised for selling it. It’s like being told you’re too rich and too poor at the same time. “But right now, frankly, we get criticized for owning too much, and then we’re criticized for selling some,” he lamented. Poor guy, can’t catch a break! 😩

He also described XRP as “slightly deflationary,” which is a fancy way of saying they’ve managed to lose a few billion units. Currently, Ripple owns a whopping 42% of the total XRP supply. So, if you’re looking for a new hobby, maybe consider counting how many tokens they have left. It could be a fun way to spend your Saturday! 🤑

First CFTC-regulated XRP futures go live

In a plot twist that even M. Night Shyamalan would envy, Bitnomial, a digital asset derivatives exchange, announced the launch of the first-ever CFTC-regulated XRP futures in the U.S. Yesterday, they also decided to drop their lawsuit against the SEC, which is like breaking up with your high school sweetheart after realizing they were just a bad influence. 💔

Last October, Bitnomial took the SEC to court, claiming the regulator was overstepping its boundaries. It’s like telling your parents they can’t ground you because you’re an adult now. The SEC finally decided to drop its appeal against Ripple after four long years of legal wrangling. Garlinghouse called this a “resounding” victory, which is a nice way of saying, “We finally won something!” 🎉

With the Ripple-SEC saga behind them and regulated XRP futures now a reality, the chances of an XRP ETF approval have skyrocketed to 80%. So, if you’ve got a spare dollar or two, now might be the time to invest in some crypto dreams! 💸

Cardano sees most bullishness in months

According to the analytics wizards at Santiment, Cardano is experiencing a surge of positivity, with its highest level of bullishness in four months. It’s like the community just discovered a new flavor of ice cream—everyone’s excited! 🍦

The data shows that positive comments about ADA on social media are outnumbering the negative ones by a staggering 3.5 to 1. That’s right, folks, the trolls are losing! This wave of optimism comes after some wild rumors about the SEC classifying ADA’s use case as “smart contracts for government services.” Spoiler alert: it was just an opinion submitted to the SEC, not a declaration of war. 🥳

On March 2, ADA had a massive spike after being included in a Bitcoin reserve, but it has since lost over 38% of its value. Talk about a rollercoaster ride! 🎢 But despite the ups and downs, the community remains as optimistic as ever. As of now, ADA is trading at $0.7318, down 1.06% in the last 24 hours. So, if you’re feeling adventurous, why not throw a few bucks at it? What’s the worst that could happen? (Don’t answer that.)

Read More

2025-03-20 19:49