This week in the world of DeFi and cryptocurrency, several significant events took place, including the launch of the new Ripple Dollar stablecoin, the Ohio Bitcoin Reserve Bill proposal, and the court sentence for Craig Wright.
Ripple Dollar Launch and Its Impact
On December 17, 2024, Ripple introduced its new stablecoin, Ripple Dollar (RLUSD), backed by the U.S. dollar. RLUSD aims to enhance blockchain-based financial solutions and is available on exchanges like Uphold, Bitso, and CoinMENA. The organization plans to expand RLUSD's usage in tokenized assets and adapt it in its global payment network.
Ohio Bitcoin Reserve Bill
Ohio Republican House leader Derek Merrin introduced Bill HB 703, aiming to establish a Bitcoin reserve fund within the state treasury. If passed, the Ohio treasurer would be authorized to include Bitcoin in the state's asset allocation. This makes Ohio the third U.S. state to propose such an initiative this month.
Craig Wright's Contempt of Court Sentence
Dr. Craig Wright, the self-declared inventor of Bitcoin, received a one-year suspended prison sentence from a UK court for contempt. If he violates court orders again within the next two years, he will face imprisonment. The court also fined him £145,000, which must be paid within two weeks.
This week brought important news in the world of cryptocurrencies and DeFi. Ripple introduced a new stablecoin, Ohio proposed a bill to introduce Bitcoin reserves, and Craig Wright was sentenced for contempt of court. These events highlight the significance and fast-paced nature of changes in this field.
