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.
Ripple has signed a multi-year partnership with the University of Louisville to place the XRP logo permanently on the basketball court at the KFC Yum! Center, home to both men’s and women’s basketball teams. The deal includes additional branding acro...
Grayscale Investments has introduced a new series of model portfolios designed for financial advisors, with a significant allocation of 26.11% to XRP within its Digital Assets Next Gen portfolio. This move signals Grayscale's strong confidence in XRP...
The U.S. Senate failed to advance the Digital Asset Market CLARITY Act, a key crypto market structure bill, dealing a setback to the industry. Despite this, Ripple CEO Brad Garlinghouse expressed confidence that cryptocurrency will continue to progre...
Ripple CEO Brad Garlinghouse criticized Democratic politics for the Senate's failure to advance the CLARITY Act, a crypto regulation bill, calling them the "anti-crypto army." The Senate voted 50-49 against proceeding with the bill, marking a setback...
The U.S. Senate narrowly failed to advance the CLARITY Act in a 49-50 procedural vote, causing Bitcoin, XRP, and Shiba Inu to plunge. The bill aimed to provide comprehensive cryptocurrency market regulations but fell short of the 60 votes needed to p...
