This past week saw numerous significant events in the cryptocurrency world, including Vitalik Buterin's critique of the World project and the conclusion of Ripple's legal process with the SEC.
Buterin Raises Concerns About World’s Digital Identity Approach
Ethereum co-founder Vitalik Buterin published a post expressing reservations about digital identity projects like World, which claims to have over 13 million 'unique humans' as verified users. Buterin discussed the risks and rewards of digital ID projects utilizing zero-knowledge proofs, highlighting that platforms could undermine the pseudonymity that many internet users, especially in cryptocurrency, highly value.
Ripple and SEC Conclude Legal Battle
Ripple CEO Brad Garlinghouse announced that the company will withdraw its cross-appeal, while the SEC is expected to do the same. Garlinghouse stated that Ripple is 'closing this chapter once and for all' and focusing on what’s most important — building the Internet of Value.
New Financial Tools from Robinhood and Other Events
Digital brokerage Robinhood has introduced micro cryptocurrency futures, including micro XRP and Solana futures, alongside a new micro version of its existing Bitcoin futures offering. Additionally, Bakkt notified the SEC of plans to sell up to $1 billion in securities for potential Bitcoin treasury expansion.
This week in the cryptocurrency market continues to evolve with significant events that broadly define its trajectory. Discussions about digital identity, settled legal cases, and new tools on the Robinhood platform reflect the dynamic nature and evolution of the crypto industry.
