RippleX Teases AI Fund to Support Next Big Thing in AI and Blockchain

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As a seasoned researcher who has followed the crypto space for years, I find myself intrigued by the latest developments from Ripple. The XRPLGrants AI Fund seems like an exciting opportunity for those working on the intersection of AI and blockchain technology. However, it’s important to remember that we are still in the early stages of this field, so it remains to be seen how successful projects will emerge from this fund.

Under the banner of RippleX, the innovative wing of Ripple’s digital currency powerhouse, hints at launching an XRPLGrants Artificial Intelligence Fund. This fund is intended to foster novel initiatives that aim to make significant strides in the realms of artificial intelligence and blockchain technology.

Just now, the company posted on Twitter about an upcoming information event happening on October 2nd through Zoom. This session will discuss XRPL grants, offer an introduction to the AI Fund, and explain application prerequisites. Additionally, it will feature a Q&A segment. At this time, further details have not been disclosed.

Interested in creating the next major breakthrough in Artificial Intelligence and blockchain technology? 🚀

— RippleX (@RippleXDev) September 30, 2024

Ripple issues crucial RLUSD warning to XRP army

Ripple likewise issued an advisory notice, aimed at the extensive worldwide XRP user base. The significant communication concerned their upcoming product, a stablecoin pegged to the US dollar named RLUSD, which they are now testing.

Ripple’s community, or XRP army, was reminded that the asset is currently undergoing a private testing phase, which began in August. Meanwhile, there are visible transactions happening on the blockchain as Ripple creates significant amounts of RLUSD tokens and subsequently destroys some of them.

As a researcher, I’m excited to share that Ripple USD (RLUSD) is currently in its private beta phase. Although you might notice some on-chain activities, it’s essential to remember that the platform isn’t accessible yet. Be cautious of individuals who claim to distribute #RLUSD, as it may be a scam. Stay tuned for updates and remain vigilant to avoid falling prey to such schemes!

— Ripple (@Ripple) September 30, 2024

Over the past week, our company has been regularly producing large quantities of RLUSD, sparking intrigue within the XRP community. Following these productions, a portion of the generated stablecoins are destroyed and stored in the Ripple Treasury.

Ripple advises cryptocurrency investors and users to stay informed about the latest news and remain cautious against potential frauds or scams.

Ripple locks 800 million XRP in escrow

Today, as a crypto investor, I’m observing the usual Ripple tradition unfold. On October 1st, one billion XRP coins were released from escrow, divided into three large transactions: one for 200 million, another for 300 million, and a final one for 500 million XRP. In total, these transfers equate to approximately $626.9 million in current fiat currency values.

For the last six years, these releases have occurred consistently on the first day of each month. The funds released, totaling millions, are utilized by Ripple for various purposes including meeting operational costs, supplying XRP to its institutional clients, and maintaining XRP liquidity in the market.

Following its release, most of the approximately 400 million units of XRP are returned to a secure storage. As for today, Ripple has deposited another 800 million XRP into an escrow account, where they will remain until subsequent distributions.

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2024-10-01 17:14