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Exciting News in the World of DeFi and Cryptocurrency

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by Giorgi Kostiuk

a year ago

This week in the DeFi and crypto world, several significant events took place that may influence the future of financial technologies.

Ripple Dollar Launch and Its Prospects

On December 17, 2024, Ripple officially launched Ripple Dollar (RLUSD), a US dollar-backed stablecoin. RLUSD is already available on various exchanges, including Uphold, Bitso, and CoinMENA. Ripple plans to expand this coin's role in tokenized assets and leverage its global payment network to drive adoption in key regions.

Bitcoin and State: Ohio's Legislative Move

Ohio Republican House leader Derek Merrin introduced HB 703, a bill aiming to establish a Bitcoin fund within the state treasury. If passed, the state treasurer could include Bitcoin in Ohio's asset allocation. Ohio becomes the third U.S. state this month to propose such legislation, highlighting growing interest in Bitcoin's role in government reserves.

Other Noteworthy Events

The UK court sentenced Craig Wright, who claims to be the inventor of Bitcoin, to a one-year suspended sentence for contempt of court. Bitwise launched Solana staking ETP in Europe, offering a 6.48% annual yield. Nigeria's anti-corruption agency arrested 792 people for involvement in a massive crypto-romance scam.

The past week in DeFi and cryptocurrencies was eventful, reflecting trends and issues that could play a crucial role in the future of financial technologies.

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