Schlagwort: crypto market news

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Stripe acquires stablecoin platform Bridge for $1.1 billion

  • Stripe has closed a $1.1 billion acquisition of stablecoin firm Bridge.
  • The company reestablished support for crypto payments in April, adding USDC on Ethereum, Solana and Polygon in October 2024.

Stripe has completed the acquisition of Bridge, a stablecoin platform that helps companies and businesses accept payments in stablecoins.

According to TechCrunch founder Michael Arrington, Stripe’s deal for Bridge is valued at $1.1 billion and is the fintech company’s largest to date. The TechCrunch founder shared the news via X.

Stripe’s acquisition of Bridge comes after reports of talks for a deal surfaced last week. This also comes after Stripe, which has recently increased its visibility in the crypto space with recent deals such as TaxJar and Lemon Squeezy, unveiled its latest crypto-focused feature.

The ‘Pay with Crypto’ feature, which integrates Paxos, allows companies to add stablecoins to their checkout systems. It’s a step that has also seen several other platforms partner to bring stablecoin payments to more businesses.

Stripe had previously halted crypto payments in 2018 before making a reentry in April 2024. Stripe also partnered with Coinbase to integrate Base, a layer-2 network, in June. In July, the fintech expanded its crypto product to the European Union.

The most recent milestone saw Stripe re-introduce crypto payments with USDC on Ethereum, Solana and Polygon.

Meanwhile, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform raised $58 million from venture capital investors, with $40 million secured during a Series A round at a valuation of $200 million.

The post Stripe acquires stablecoin platform Bridge for $1.1 billion appeared first on CoinJournal.

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Ripple’s CEO: an IPO hasn’t been a “high priority” as it’s in a strong financial position

  • Brad Garlinghouse said that Ripple is in a “strong financial position” and that a Ripple IPO has been a “back burner topic”
  • Garlinghouse said that Gary Gensler’s “days are numbered” as the SEC Chair
  • The CEO believes the market headwinds are beginning to ease, bringing more capital into the industry

Ripple’s CEO has said an IPO isn’t a priority for the company, partly because of its challenges with the US Securities and Exchange Commission (SEC).

Speaking at the Ripple Swell Conference, Brad Garlinghouse spoke about XRP’s future, the SEC, crypto regulation, Ripple’s new RLUSD stablecoin, and XRP exchange-traded fund (ETF) filings.

On the topic of an IPO, Garlinghouse said “an IPO has not been a high priority for us and part of that is because the SEC is not our friend.”

He added that for a company to issue an IPO, it’s because they want to raise capital. Garlinghouse stated that Ripple is in a “strong financial position” that has seen them investing in different crypto projects.

“We have a couple of dynamics here with Ripple,” Garlinghouse said. “One is we have a hostile SEC, hostile US environment, and we have a company that doesn’t need to go raise capital. So it’s just been a back burner topic.”

Notably, he didn’t knock down the possibility of an IPO in the future.

Headwinds are easing

Touching on the SEC, Garlinghouse said that the agency is “acting outside of the law,” calling them a “rogue agency” when it comes to XRP. The CEO spoke about how despite a ruling that deemed XRP wasn’t a security, the SEC is still saying that it is. In his words, what the agency is doing “is not ethical behavior.”

Despite the hurdles that Ripple faces with the SEC, Garlinghouse mentioned that Gary Gensler’s days “are numbered” as the SEC Chair, and that eventually regulatory clarity will come to the industry.

Garlinghouse also spoke about the RLUSD stablecoin, noting that the company has been using stablecoins, such as USDC and Tether, in their payment flows for years. He highlighted that their stablecoin would bring more liquidity to the XRP ledger, and that they aim to replace using USDC and Tether with RLUSD.

Looking to 2025, Garlinghouse believes that the headwinds that have affected the market – FTX, the banking crisis, and even Senator Elizabeth Warren saying crypto is bad – will start to ease bringing with it more capital into the industry.

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Dogecoin (DOGE) price up as meme coins rise

  • Dogecoin price spiked double-digits in 24 hours to hit its highest level in close to three months.
  • DOGE price broke above $0.13, above levels seen in July as several meme coins surged.

While the meme coin’s price rose amid broader optimism in the crypto market, which had Bitcoin above $68k, its likely Dogecoin benefited from fresh upside sentiment following latest comments by Tesla CEO Elon Musk.

Per data from CoinMarketCap, DOGE ranked as the best performing coin among the top 100 cryptocurrencies by market cap on Friday morning. The dog-themed meme coin’s 10% in 24 hours gain came as Popcat, Mog Coin, Floki and cat in a dogs’ world all surged.

At the time of writing, the global meme coin market cap was up 3.6% to $62 billion, likely indicating a bullish flip for crypto is setting up.

As Dogecoin price eyes further gains, crypto analysts are suggesting a potential breakout in on cards.

Crypto trader Hardy says DOGE has seen a “textbook” falling wedge breakout and could be in for a wild run.

DOGE spikes amid Musk comment

Donald Trump has previously noted that he’s open to X owner and Tesla CEO Elon Musk joining his cabinet if Trump wins the upcoming election. This particular position is the new Department of Government Efficiency, or abbreviated to ‘DOGE’.

In comments made in Pennsylvania, Musk replied to a question related to the potential of him joining the new docket by mentioning “DOGE”. Although not explicitly about the meme coin, it’s notable that Musk has previously supported Dogecoin.

Tesla even added the meme coin as a payment option for its EVs. DOGE price reached an all-time high of $0.73 in May 2021.

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Mountain Protocol integrates Chainlink’s CCIP for USDM transfers

  • Mountain Protocol has integrated Chainlink’s cross-chain transfers technology.
  • The cross-chain interoperability protocol, CCIP, will help USDM users transfer yield-bearing stablecoin across Ethereum, Base and other chains.

Mountain Protocol has announced that it will tap into oracle network Chainlink’s technology for cross-chain transfers of its yield-bearing stablecoin USDM.

The USDM token is fully backed by US Treasuries.

Mountain Protocol integrates CCIP

According to a blog post, the integration involves Chainlink’s cross-chain interoperability protocol (CCIP).

Mountain Protocol will leverage the standard for cross-chain  transfers of its stablecoin USDM across Ethereum, Optimism, Arbitrum, Base, and Polygon PoS. Users can use the Chainlink-powered XSwap bridge for these transfers.

It’s the latest CCIP integration by a blockchain protocol, with users benefitting from simplified transfers, unified liquidity and security.

Using CCIP for USDM transfers works by burning tokens on originating blockchain and minting new ones on the destination chain. This ensures supply consistency and transaction integrity, with users able to tap into the stablecoin for decentralised finance activities on any of the supported chains.

Chainlink’s CCIP is key in the growing tokenized real-world assets market. Currently total RWA on-chain is over $13 billion, according to rwa.xyz. Meanwhile, the stablecoin market is around $171 billion, with USDM around  $55.5 million per rwa.xyz.

The cross-chain interoperability protocol, alongside other services such as Proof of Reserve, Data Streams and Data Feeds are helping bring DeFi to more people through tokenized RWAs.

Other than token transfers and DeFi, Chainlink’s CCIP has use cases across gaming, web3 usernames and liquidation protection.

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Worldcoin rebrands, launches World Chain mainnet

  • Worldcoin has rebranded to ‘World’ and introduced several new features to enhance its World ID.
  • The project also announced the mainnet launch of its blockchain World Chain.

Worldcoin is now simply “World” after the blockchain-based identity verification project announced it’s rebranding on Oct. 17.

Sam Altman and Alex Blania, co-founders of World, announced the name change during a company event in San Francisco. As well as the rebranding, the project unveiled several updates aimed at bringing ‘proof-of-humanity’ technology to more people.

One of the key announcements is World’s unveiling of a new version of the biometric identification device the Orb. The company said the next-gen Orb is powered by NVIDIA’s latest Jetson chipset and offers as much as fivefold the AI performance of the previous version.

World has also introduced World ID 3.0, an advanced version of World ID and designed to enable further verification across the globe. The World ID Credentials and Deep Face features enhance this capacity, allowing those with NFC-enabled passports to verify their identity via their devices.

According to details in the blog post, verified passport holders can claim the native cryptocurrency WLD even before fully verifying their ID via the Orb.

World Chain mainnet launch

Oct. 17 also saw World Chain, the layer-2 chain the World Foundation announced earlier in the year, launch its mainnet. Approximately 15 million people have migrated or are completing the migration to World Chain as of Thursday, October 17, 2024.

World Chain is a blockchain network that will prioritise human activity and transactions over bots and launched with support from several crypto platforms, including Dune, Uniswap, Optimism, Alchemy, Safe and Etherscan.

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