Ripple CEO Brad Garlinghouse remains bullish on bitcoin but criticized Michael Saylor's preferred-stock funding strategy used by Strategy to buy bitcoin. He called the approach "financial engineering" that distracted the market and pointed to the Strategy's preferred stock (STRC) falling 25% below par as evidence of its failure. The STRC stock, designed to trade near $100 with an 11.5% dividend, hit a record low amid bitcoin's drop below $59,000. Garlinghouse argued that true value comes from usefulness, not financial engineering, and said Saylor's focus hurt the broader crypto market. Strategy has paused issuing preferred shares due to the stock's decline and thinning dividend coverage, though some analysts see the model as less efficient rather than broken.
The total cryptocurrency market capitalization fell 0.35% to $2.76 trillion over 24 hours, even as Bitcoin and five other major coins posted gains. Bitcoin rose 1.35% to $82,031, while Ether, XRP, BNB, Solana, and Dogecoin each gained between 2% and ...
XRP was trading at $1.30 on October 20 as Ripple Prime, Ripple's prime brokerage arm, joined a U.S. securities tokenization working group led by the Depository Trust & Clearing Corporation (DTCC). The group aims to develop a service to tokenize selec...
On October 19, U.S. altcoin spot ETFs showed mixed flows: Litecoin and NEAR ETFs attracted new investments, while Solana and Zcash ETFs experienced net outflows. Other altcoin ETFs like XRP, Dogecoin, Chainlink, and Avalanche remained flat with no si...
Ripple Prime plans to back the launch of Securitize Stocks, a new tokenized U.S. stock product issued on-chain, allowing eligible investors in the U.S., EU, and other markets to receive dividends and voting rights. Ripple Prime, which evolved from Ri...
Crypto analyst Mason Versluis predicts XRP's next bull run will reach a conservative price range of $5 to $10, rejecting much higher targets like $500 or $10,000 promoted by some commentators. He clarified that while such high prices might be possibl...
