The fast-evolving DeFi and crypto space requires continuous analysis and tracking of events. Our weekly recap covers the most significant news and trends, keeping you informed about the latest happenings.
Ripple Dollar (RLUSD) Launches with Transparency and Backing
Ripple has introduced Ripple Dollar (RLUSD), a U.S. dollar-backed stablecoin aimed at enhancing blockchain-based financial solutions. Officially launched on December 17, 2024, RLUSD is available on exchanges like Uphold, Bitso, and CoinMENA, with further expansion plans. Future developments include extending RLUSD’s role in tokenized assets and utilizing Ripple’s global payment network for greater adoption across key regions.
Ohio Introduces 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, this 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, reflecting growing interest in Bitcoin's role in government reserves.
UK Judge Sentences Craig Wright to One Year Probation
Dr. Craig Wright, the self-proclaimed inventor of Bitcoin, received a one-year suspended 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 and demanding £240,000 to cover costs, as key factors in the ruling.
Throughout the week, the DeFi and crypto sector witnessed significant developments, including new launches, state-level initiatives, and legal precedents, underscoring continued evolution and interest in the field.
