Crypto Weekly Roundup: Ripple Challenges SEC, Trump Hates CBDCs, & More

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Former President Donald Trump is in the crypto news again because of his decisive declaration against central bank digital currencies (CBDC). Furthermore, the highly popular Trump NFTs are also making a comeback with Bitcoin Ordinals. Let’s find out more. 

Bitcoin

Following the Securities and Exchange Commission's landmark approval, Bitcoin has surpassed Silver to become the second-largest ETF commodity in the US. 

Ethereum

According to a regulatory filing, the United States Securities and Exchange Commission has delayed its decision on Fidelity’s Spot Ethereum ETF proposal until the 5th of March. 

DeFi

Decentralized exchange Uniswap has announced that it is allocating $300,000 for an engineering team to develop its V4 front-end for new pool launchers and liquidity providers. 

Altcoins

The latest Dynamic Lambda upgrade on the Algorand blockchain has successfully sped up the process by shaving off 20% of the block time. 

The Justin Sun-linked stablecoin TrueUSD (TUSD) has continued to depeg, hitting a low of $0.97 as traders continue to dump it in favor of USDT. 

Technology

Ripple is preparing for the institutional use of XRP by pitching the merits of the XRP Ledger (XRPL) to Franklin Templeton, an asset management behemoth. 

According to a source familiar with the matter, Solana Mobile is reportedly planning to launch a second smartphone with new hardware as a cheaper follow-up to its Saga smartphone. 

Business

The Internal Revenue System (IRS) and the US Treasury Department have temporarily postponed the crypto reporting requirements to ease the burden on businesses. 

Binance Thailand (Binance TH), which is a joint venture between Binance and Gulf Innova and is operated by Gulf Binance, opened trading to the public this week. 

Bankrupt crypto lender Celsius has moved $125 million worth of ETH to crypto exchanges as part of the embattled platform’s initiative to repay creditors.

NFT

Former POTUS Donald Trump is all set to make his debut on Bitcoin Ordinals as the Trump Digital Trading Card NFT collection is being minted on Bitcoin. 

OpenSea CEO David Finzer revealed that the company is working on a platform upgrade, OpenSea 2.0, to improve users' experiences and differentiate NFT categories.

Security

Crypto exchange Bitfinex has revealed it has successfully repelled an attempt to exploit $15 billion worth of XRP tokens on the platform using an unsuccessful partial payments exploit. 

CBDC

Former US President and Republican Party Presidential candidate Donald Trump has vowed never to allow the creation of a central bank digital currency (CBDC) in the United States. 

Regulation

Ripple lawyers have challenged the SEC’s request to examine additional financial documents, calling it untimely and irrelevant. 

The SEC has concurred with a court ruling postponing the trial of former Terraform CEO Do Kwon until March to ensure that both Do Kwon and Terraform Labs are tried together. 

A UN report has shed the spotlight on Tether for its alleged role as the currency of choice in money laundering and fraud in Southeast Asia. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.