- RippleX AI XRPL Grants Fund
- Ripple's RLUSD Warning
- 800 Million XRP Locked in Escrow
RippleX, the development arm of the Ripple cryptocurrency, has announced a new AI XRPL Grants fund aimed at supporting projects in artificial intelligence and blockchain.
RippleX AI XRPL Grants Fund
In a recently published tweet, the company announced an upcoming info session that will take place on October 2 via the Zoom app. The session will cover XRPL grants, give an overview of the AI Fund, provide details on application requirements, and include a Q&A session.
Ripple's RLUSD Warning
Ripple also published a warning for the global XRP community concerning the company's new dollar-pegged stablecoin, RLUSD. The company reminded that the asset remains in private beta, urging vigilance against scams.
> PSA: Ripple USD (RLUSD) is still in private beta, and while you may see on-chain activity, it’s not available yet. Beware of anyone claiming to distribute RLUSD. Keep an eye out for the latest updates, and stay vigilant against scams! > - Ripple (@Ripple), September 30, 2024
800 Million XRP Locked in Escrow
Today, on October 1, Ripple traditionally unlocked one billion XRP coins, withdrawing them from escrow. The funds were divided into three transactions, amounting to 200,000,000, 300,000,000, and 500,000,000 XRP. The total fiat equivalent of these cryptocurrency transfers is $626.9 million. After the release, most of these millions of XRP were locked back in escrow. Today, Ripple sent 800,000,000 XRP back to escrow where they will wait until future releases.
RippleX is making significant strides in supporting innovative projects in AI and blockchain through the AI XRPL Grants fund, while also cautioning its users to be alert to potential fraudulent activities.
