As the DeFi and crypto space continues to evolve rapidly, staying informed about the latest developments and trends is essential. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space.
Ripple Dollar Launches with Regulatory Support
Ripple has introduced Ripple Dollar (RLUSD), a U.S. dollar-backed stablecoin aimed at improving blockchain-based financial solutions. Officially launched on December 17, 2024, RLUSD is available on exchanges like Uphold, Bitso, and CoinMENA, with more listings planned. Future plans include expanding RLUSD’s role in tokenized assets and leveraging Ripple’s global payment network to drive adoption across key regions.
Ohio's Bitcoin Reserve Bill
Ohio Republican House leader Derek Merrin has introduced the Ohio Bitcoin Reserve Act (HB 703), aiming to establish a Bitcoin fund within the state treasury. If passed, the bill would authorize the state treasurer to include Bitcoin in Ohio's asset allocation. Ohio becomes the third U.S. state to propose such legislation this month, reflecting growing interest in Bitcoin's role in government reserves.
Craig Wright Sentenced for Contempt of Court
Dr. Craig Wright, the self-declared inventor of Bitcoin, received a one-year suspended prison sentence from a UK court for contempt. He will avoid jail unless he breaches court orders within the next two years. Wright was also fined £145,000, payable within two weeks. The court cited his defiance, including refusing to attend hearings in person and demanding £240,000 to cover costs, as key factors in the ruling.
The past week in the DeFi world was filled with significant events, from the launch of a new stablecoin to Bitcoin reserve legislation and court rulings. These developments underscore the rising interest and attention toward cryptocurrencies and their role in the future of financial systems.
