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You are here: Home / Archives for Bitstamp

Bitstamp

PayPal UK Registers With FCA for Crypto Activities As It Rides High On Q3 Earning

November 2, 2023 by Ammar Raza

PayPal UK has taken a significant step in the world of cryptocurrency by registering with the UK’s Financial Conduct Authority (FCA). This move allows the company to engage in “certain cryptoasset activities” within the country. To operate in the UK’s crypto market, companies must gain registration approval and adhere to the FCA’s anti-money laundering regulations.

In 2023, it became the fourth firm to secure FCA’s crypto registration, following Interactive Brokers, Bitstamp, and Komainu. This registration not only allows PayPal to operate within the UK crypto market but also permits the company to approve its own crypto-related communications in line with the recently imposed marketing regulations.

In August, the company had temporarily paused crypto purchases in the UK to comply with these new regulations. However, the registration on the UK crypto register does not impact this temporary pause, as clarified by a PayPal spokesperson.

The company spokesperson stated:

The Financial Conduct Authority has approved PayPal UK Ltd as an authorised electronic money institution and consumer credit firm, and registration as a crypto asset business, enabling the transfer of PayPal’s U.K. customer accounts to this new U.K. entity from PayPal Europe on 1 November 2023

Nevertheless, PayPal UK will have certain limitations. It won’t be able to expand its current crypto offerings into activities such as staking, exchanging crypto assets, participating in initial coin offerings, and engaging in decentralized finance activities like lending without obtaining permission from the FCA, as outlined on the regulator’s website.

Growth & Confidence at PayPal Holdings

Meanwhile, the company appears to be making strides in its turnaround efforts. Its third-quarter results surpassed analyst expectations, with adjusted earnings climbing 20% year-over-year to $1.30 per share and revenue reaching $7.4 billion, in line with projections. Total payment volume rose by 13% to $387.8 billion, though the total number of active accounts decreased by four million to 428 million.

Following these positive results, the company raised its full-year earnings forecast and announced Jamie Miller as its new chief financial officer, signaling its commitment to ongoing growth and development in the fintech sector. 

Related Reading | XRP Revisits $0.60 Mark, Eyes Bullish November: Analysts Optimistic

Filed Under: News, World Tagged With: Bitstamp, Cryptocurrency, FCA, Komainu, Paypal UK Limited, UK crypto

Bitstamp Forges Path With European Banks To Launch Crypto Services Amidst MiCA Momentum

October 11, 2023 by Mishal Ali

Bitstamp, a prominent cryptocurrency exchange, is currently in discussions with three major European banks to facilitate the launch of cryptocurrency services by the first quarter of the upcoming year. This strategic move by Bitstamp aligns with the evolving regulatory landscape in the European Union, particularly the Markets in Crypto Assets (MiCA) initiative, which is creating a more welcoming environment for traditional financial institutions to embrace digital assets.

Bitstamp’s Global Expansion Ambitions

The company had initially set its sights on global expansion, a goal that involved securing fresh funding to bolster its operations. The fundraising initiative commenced in late June, with assistance from Michael Novogratz’s Galaxy Digital Holdings, as reported by Bloomberg on August 7th.

The proceeds were earmarked for the launch of derivatives trading in Europe in 2024 and an expansion into various Asian markets. Furthermore, Bitstamp had plans to enhance its presence in the United Kingdom.

In stark contrast to the United States, where regulatory scrutiny has led to apprehension among traditional financial firms, Europe appears to be embracing the potential of cryptocurrencies. 

Bitstamp is pivotal in this shift, offering its “Bitstamp-as-a-service” solution, a white-label licensing and technology package designed to enable banks and fintech companies to offer cryptocurrency trading services. 

Robert Zagotta, Bitstamp’s Global Chief Commercial Officer and CEO of its U.S. division revealed that there has been a significant surge in inquiries from large European banks regarding this offering over the past six to nine months. Advanced discussions are currently underway with three notable European banks, although their identities have not been disclosed.

Robert Zagotta Bitstamp’s Global Chief Commercial Officer

This development indicates a broader trend in Europe, where regulatory frameworks are being established, and traditional financial institutions are forging partnerships and formulating cryptocurrency strategies. Institutions like Deutsche Bank and HSBC have been prominently featured in this wave of activity.

In the U.S., however, the cryptocurrency landscape presents a contrasting picture. Regulatory pressures have compelled some well-established and regulated firms to relocate their cryptocurrency operations to more hospitable jurisdictions like Singapore. This divergence in regulatory approaches between Europe and the United States shapes the crypto industry’s global landscape.

The cryptocurrency community will be closely watching Bitstamp’s developments in facilitating cryptocurrency services for European banks, as it may signify a significant step toward the mainstream adoption of digital assets in the financial industry.

Related Reading | FTX Hackers Resurge: $400 Million Heist Revisited Amid Trial Drama

Filed Under: News, World Tagged With: Bitstamp, Cryptocurrency

Ripple’s Anonymous Wallets Move 107M XRP To Top Exchanges

October 6, 2023 by Mohammad Ali

In a startling revelation, crypto tracking platform Whale Alert has unearthed a colossal transfer of XRP from anonymous wallets to two major exchanges. This significant development unfolded over two days, with approximately 30 million coins each reaching Bitso, a prominent Mexican exchange, and Bitstamp, a European crypto unicorn.

🚨 30,400,000 #XRP (15,831,100 USD) transferred from unknown wallet to #Bitsohttps://t.co/tS8lhuX22D

— Whale Alert (@whale_alert) October 5, 2023

The staggering total of nearly 107 million XRP, translating to a hefty $56 million in fiat, has left the crypto community buzzing. What sets this transaction apart is its association with XRP Payments, a juggernaut in the blockchain realm. The sending wallets have been traced to the fintech giant headquartered in San Francisco, led by CEO Brad Garlinghouse.

🚨 29,300,000 #XRP (15,258,265 USD) transferred from unknown wallet to #Bitstamphttps://t.co/TILeFN5SwC

— Whale Alert (@whale_alert) October 5, 2023

Ripple’s Payment Evolution

Bitso and Bitstamp, integral cogs in Ripple’s cross-border payments machinery, were once the backbone of the On-Demand Liquidity (ODL) system. As part of XRP rebranding strategy, ODL has been streamlined into the more intuitive “Ripple Payments.” This user-friendly nomenclature aims to demystify the platform for newcomers to the Rippleverse and the broader crypto sphere.

The ODL framework, rooted in RippleNet, empowers seamless fund transfers across the globe, negating the need for pre-funded accounts. Bitso handles the Latin American leg of this operation, while Bitstamp replicates its functionality in the European domain.

Notably, Ripple’s strategic partner, Tranglo, operating in Malaysia, witnessed an astonishing surge of 1,700% in ODL usage last year. This surge culminated in a $970 million transaction volume, starkly contrasting the $59 million recorded in 2021.

The crypto world remains on tenterhooks as the implications of this colossal XRP transfer across the industry. The sheer magnitude of the move, coupled with its association with XRP Payments, is bound to have a far-reaching impact on the crypto landscape. As the ripples of this development continue to propagate, the community eagerly anticipates further insights into the motivations and consequences of this monumental transfer.

Related Reading: | XRPL Achieves Historic Milestone With Closure Of 83 Millionth Ledger

Filed Under: News Tagged With: Bitso, Bitstamp, Crypto, ripple, xrp

Ethereum Co-Founder’s 2,000 ETH Shift To ‘0x5567’ Sparks Speculation

September 13, 2023 by Mohammad Ali

In a striking turn of events, a wallet tied to the renowned Ethereum co-founder, Vitalik Buterin, has sent shockwaves through the cryptocurrency community. As per a recent update from the reputable crypto analytics platform LookOnChain, this wallet has relocated a whopping 2,000 ETH, equivalent to a staggering $3.12 million, to an enigmatic destination labeled “0x5567”.

A wallet related to @VitalikButerin transferred 2,000 $ETH($3.12M) to wallet"0x5567" again.

The wallet related to #VitalikButerin has deposited a total of 2,700 $ETH($4.77M) to #Bitstamp via wallet"0x5567" in the past month.https://t.co/LRrcqoxUhf pic.twitter.com/aPm3xewGwx

— Lookonchain (@lookonchain) September 11, 2023

However, this hefty transfer is no isolated incident. Astonishingly, this wallet has channeled a total of 2,700 ETH, an approximate value of $4.77 million, to Bitstamp via the same cryptic “0x5567” in the past month alone. The underlying motive behind these substantial transactions remains in secrecy, leaving onlookers in speculation.

One plausible scenario is that Vitalik Buterin might reallocate funds for a specific venture or investment. Alternatively, it’s conceivable that he’s opting to liquefy some of his assets to shield against the capricious undulations of the market. While these are educated suppositions, the precise rationale still needs to be discovered.

Unraveling Ethereum’s Market Complexity

Shifting our focus to Ethereum’s present market conditions, the latest data indicates that ETH is trading at around $1610.72, marking a 1.57% increase over the past 24 hours. After Vitalik Buterin’s transfer of 2,000 ETH, the market fell below the $1,600 mark. Nevertheless, Ethereum’s price is now in the process of recovery. The recent transaction involving a wallet linked to Buterin injects additional complexity into Ethereum’s intricate market dynamics.

The timing of these transfers holds particular significance. With Ethereum navigating through turbulence, substantial movements originating from influential figures could either lend stability to the asset or further ignite prevailing volatility. It’s a precarious equilibrium, and the market is keenly attuned to forthcoming developments emanating from wallets linked to crypto luminaries such as Buterin.

While the impetus behind these substantial transfers remains veiled, they unarguably introduce a layer of intricacy to Ethereum’s existing market landscape. Whether these actions foreshadow something more substantial or are merely routine transactions, they’ve unquestionably seized the attention of seasoned investors and retail traders alike. The enigma surrounding these movements only serves to intensify the intrigue.

Related Reading:| Ethereum Co-Founder’s 3,000 ETH Transfer Raises Concerns Amid Recovery

Filed Under: News Tagged With: Bitstamp, Crypto, Cryptocurrency, Ethereum (ETH), Lookonchain, Vitalik Buterin

Ripple’s Bold XRP Moves Amidst Market Flux Raise Questions

September 5, 2023 by Mohammad Ali

In a crypto market riddled with ups and downs, Ripple, the San Francisco-based blockchain company, has made significant moves by transferring substantial amounts of XRP to major exchanges and anonymous wallets. Despite XRP’s slight price dip, these transactions have caught the attention of crypto enthusiasts and investors alike.

Blockchain tracking service Whale Alert recently detected two substantial XRP transactions. The first, amounting to a whopping 29,700,000 XRP, found its way to the Bitstamp exchange. Detailed data from XRP-focused information provider Bithomp revealed Ripple Labs as the sender, transferring this sizable chunk of XRP for $15,040,591.

The second substantial transfer involved a staggering 425,322,309 XRP from the Bitvavo digital exchange to an undisclosed wallet labeled “unknown” by Whale Alert. This movement follows a trend observed throughout August, with several XRP transactions of similar magnitude being reported by Whale Alert. Notably, one of these large transactions also originated from Bitvavo.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 425,322,309 #XRP (213,135,940 USD) transferred from #Bitvavo to unknown wallethttps://t.co/vmTEuHvFRN

— Whale Alert (@whale_alert) September 3, 2023

Ripple’s Strategic Moves Amid XRP Price Swings

In a previous instance, on August 30, Ripple transferred 31,000,000 XRP for selling. Additionally, on September 1, the company conducted its routine monthly release of one billion XRP from escrow, a practice it has upheld since 2018. This release aims to maintain XRP’s liquidity in the market and promote its adoption.

Today, XRP experienced a 1.44% drop in price, following a 4.73% increase since Friday. Ripple’s ability to execute these transfers just before the price dip raises questions about whether the company managed to sell at a profit or incurred losses. As of the time of reporting, XRP is valued at $0.5034.

However, an intriguing twist emerged as Ripple began relocking around 80% of the billion XRP coins that had been previously unlocked. Consequently, only approximately 200 million XRP entered the market on average each month, indicating Ripple’s cautious approach to controlling the coin’s supply.

In the crypto sphere, enthusiasts remain vigilant, keenly awaiting Ripple’s forthcoming maneuvers, as these transactions wield a significant influence over XRP’s trajectory within the ever-fluctuating crypto landscape.

Related Reading:| XRP’s Surging Utility: 4.8B Transactions & 2.03B Circulation Spark Frenzy

Filed Under: News Tagged With: Bitstamp, Bitvavo, Crypto, Cryptocurrency, Ripple (XRP), whale alert

Bitstamp’s Ethereum Staking to Cease for US Users Amid Regulatory Landscape

August 24, 2023 by Lipika Deka

Ethereum staking is set to be phased out for Bitstamp customers in the United States starting September 25th. Till then, customers of the crypto exchange can continue to accumulate staking rewards, according to the announcement communicated via US CEO Bobby Zagotta.

After the deadline, all staked assets will be withdrawn from the staking program, and the combined rewards and principal will be transferred to users’ primary Bitstamp account balances. The whole process will likely last for a few days but “could be extended depending on network conditions,” the media statement read.

Other services provided by Bitstamp will continue without disruption. The reason behind the discontinuation of staking services has been attributed to the regulatory climate in the US. “Given the current regulatory landscape in the US, we have reached the verdict to discontinue staking opportunities for our US-based clientele.”

Zagotta further highlighted the ongoing practice of evaluating the services and adjusting to the evolving regulatory frameworks in all operational jurisdictions. It’s important to note that regulatory authorities in the United States have taken strong measures concerning staking services.

For instance, back in February, the SEC targeted Kraken for not properly registering the offering and sale of their staking-as-a-service program related to crypto-assets. This resulted in Kraken agreeing to pay $30 million to settle the charges.

Similarly, the regulator pursued legal action against Coinbase and Binance, alleging that their staking programs met the criteria outlined in the Howey test, which categorizes them as investment contracts and thus falls within the realm of securities. According to the SEC, the operation of such services should adhere to the registration requirements laid out in the Securities Act.

Ethereum Staking Unfazed

On a different note, the landscape for Ethereum staking has remained resilient. EigenLayer, a prominent decentralized finance [DeFi] platform, has observed a remarkable 207% increase in total value locked [TVL]. This surge follows the platform’s decision to raise the liquid restaking limit to 100,000 ether [ETH].

Upon its launch in June, the restaking protocol rapidly hit the 100,000 ETH cap in just a matter of hours. As per DefiLlama data, the TVL soared from $78 million to an impressive $238 million.

In the realm of restaking, network validators acquire added rewards on staked ETH within the primary Ethereum blockchain. Individuals aiming to become network validators, responsible for providing computational resources for transaction processing on a blockchain, are mandated to stake a minimum of 32 ETH.

Filed Under: Altcoin News, News Tagged With: Bitstamp, ETH, eth staking, Ethereum

Solana (SOL) Price Surges 6% Amidst Bitstamp’s Trading Halt Announcement

August 10, 2023 by Ammar Raza

Solana (SOL) emerged as a standout performer today, securing its position among the top daily gainers with an impressive uptick of nearly 7%, currently trading at $24.59. Despite the news that US-based traders on the Bitstamp crypto exchange will soon face limitations, including the suspension of trading for select high-profile tokens such as Solana, the token’s value has managed to experience a notable increase.

Source: CoinMarketcap

The unexpected development was disclosed via an official blog post by Bitstamp, where the exchange revealed its decision to halt trading for a total of seven cryptocurrencies catering to its US clientele. Effective August 29th, 2023, these new restrictions will come into effect, impacting the ability of American users to engage in trading activities involving the affected tokens, Solana being one of them.

Update for our US users 📢

Starting August 29: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL trading will be halted after evaluating recent market developments.

Execute any open trades. Holding and withdrawing tokens afterwards will be unaffected.

More info:…

— Bitstamp (@Bitstamp) August 8, 2023

This surge comes on the heels of a strong bullish run that SOL exhibited throughout the month of June and July. Commencing on June 14th, the cryptocurrency witnessed a remarkable price rally, propelling it from $14.06 to an impressive $32.13 within just 30 days. This surge translated to a staggering 128.5% increase, highlighting the coin’s robust momentum during that period.

The bullish sentiment surrounding SOL spilled over into higher timeframes, bolstering the confidence of its bullish investors. July also marked a positive trend for the cryptocurrency, as it continued to exhibit growth, registering an approximate 18.9% increase according to data from the last 30 days.

Bullish Momentum & Confidence In Solana’s Future

An additional indicator of Solana’s growing prominence is the notable inflow of capital it garnered. An influx of $9.5 million was recorded, marking the most significant weekly inflow since March 2022. This influx further underscores the increasing interest and investment in the Solana ecosystem.

Furthermore, a recent analysis by Messari, a prominent cryptocurrency data provider, delved into the Total Value Locked (TVL) growth across various blockchain networks. Among the diverse array of networks examined, Solana shone brightly with an exceptional surge in its TVL. This growth stood in stark contrast to the downturn experienced by other blockchain networks over the past month.

Solana managed to grow its TVL last month, as most major chains declined pic.twitter.com/zVwUgy7Mtp

— Messari (@MessariCrypto) August 7, 2023

Visualized graphically, Solana’s TVL witnessed a substantial increase of over 14%. Remarkably, when compared to the other chains under scrutiny, only Optimism displayed positive TVL growth alongside Solana. 

However, this divergence in performance further underscores Solana’s unique position in the current blockchain landscape, solidifying its reputation as a standout performer with a penchant for growth and resilience.

Related Reading | Exchange Balance of Shiba Inu Tokens Sees Dramatic Increase

Filed Under: News, Altcoin News Tagged With: Bitstamp, Cryptocurrency, Price Analysis, Solana (SOL)

XRP Unveils Exciting Bitstamp Partnership

August 4, 2023 by Aishwarya shashikumar

In a move that has left the cryptocurrency community buzzing with anticipation, Bitstamp, one of the leading cryptocurrency exchanges in the world, has recently dropped hints about an upcoming major announcement related to XRP, the digital asset developed by Ripple.

Bitstamp, founded in 2011, has earned a reputation as a reliable and secure platform for trading various cryptocurrencies. With a strong user base and a history of innovation, the exchange plays a significant role in the cryptocurrency ecosystem. Therefore, any major announcement from Bitstamp, particularly regarding a prominent digital asset like XRP, is likely to carry considerable weight.

The timing of this announcement also coincides with a period of renewed interest and activity in the cryptocurrency market. After a period of consolidation, various digital assets, including XRP, have shown signs of resurgence in recent weeks. As regulatory clarity improves and institutional adoption continues to grow, the stage seems set for significant developments within the crypto space.

XRP’s Global Impact: Cross-Border Partnerships on Horizon

Speculation about the nature of the announcement is rife. Some industry observers speculate that Bitstamp could be unveiling new trading features or partnerships designed to enhance the ripple token trading experience. Others are hopeful for news regarding the integration of additional services, such as staking or lending, for XRP holders.

Another possibility is the listing of new Ripple token trading pairs, potentially opening up more avenues for traders to diversify their portfolios. Additionally, given the token’s use case as a bridge currency in cross-border transactions, there’s a chance that the announcement could involve new partnerships aimed at expanding the utility of the token in the global financial landscape.

Regardless of the specifics, the announcement holds the promise of bringing a new wave of enthusiasm to the XRP community. As the digital asset strives to assert its value proposition and utility beyond the ongoing legal battles Ripple faces, positive news from one of the leading exchanges can undoubtedly act as a catalyst for broader adoption and increased attention.

In conclusion, the cryptocurrency community eagerly awaits the impending XRP announcement from Bitstamp. The exchange’s history of credibility and the timing of this tease make it a noteworthy event for traders and enthusiasts alike. Whether it’s a groundbreaking partnership, innovative features, or expanded utility for the token, one thing is certain: the crypto space is in for an exciting reveal that could potentially reshape the future of the Ripple token.

Filed Under: News, Altcoin News, World Tagged With: Bitstamp, Cryptocurrency, xrp

Bitstamp UK Joins FCA Registered Firms, Reinforcing Commitment To Compliance

June 15, 2023 by Ammar Raza

Bitstamp, the renowned crypto platform, has accomplished yet another achievement by becoming an approved firm under the esteemed Financial Conduct Authority (FCA) in the UK.

We are proud to be registered as a cryptoasset business with the UK’s Financial Conduct Authority (FCA). 🇬🇧

Thank you for your continued support! 🙌

More info: https://t.co/fU79Pun0Kf

— Bitstamp (@Bitstamp) June 13, 2023

The recognition confirms the exchange’s status as one of the safest and most compliant crypto exchanges in the worldwide market.

Bitstamp stated its pride in being recognized among a few selected crypto exchanges by the FCA in an official announcement. The company presently has 52 licenses and registrations worldwide that are impressively tallied. This emphasizes its loyalty to running with the highest standards possible.

The exchange’s attainment of FCA registration demonstrates its commitment to upholding financial standards and protecting customers, in line with traditional financial institutions.

Anti-money laundering (AML) and counter-terrorist financing (CTF) measures are included in these standards to ensure that users have the utmost security.

By complying with strict FCA requirements, Bitstamp’s registration demonstrates its commitment to regulatory compliance. A secure and compliant platform for accessing cryptocurrencies is provided to UK customers.

The UK-based company’s services cover a broad spectrum, providing for both institutional and retail customers. The duties require safeguarding cryptocurrency assets and conducting dealings with legal tender. Trading cryptocurrencies against other crypto assets are also included.

Bitstamp’s commitment to regulatory compliance has not gone unnoticed. The company recently achieved the top spot in CCData’s (formerly CryptoCompare) Exchange Benchmark report for the second consecutive time. 

With an AA rating, Bitstamp was the only platform to receive the highest rating in the report’s latest and previous four editions.

Bitstamp’s Crypto Lending Performance Report

In addition to its regulatory milestones, the exchange has also released its first Crypto Lending Performance Report for May 2023. The report highlights the strong performance of Bitstamp Earn Lending, which primarily consists of Bitcoin (65%), Ethereum (11%), and Ripple (11%).

Notably, all borrowers have made timely repayments of interest and principal, maintaining a consistent level of creditworthiness. The absence of non-performing loans has enabled the exchange to provide users with a steady Annual Percentage Yield (APY).

Nevertheless, the crypto industry matures, and regulatory compliance becomes increasingly vital. The exchange’s registrations and CCData’s recognition reaffirm the company’s commitment to compliance, security, and transparency.

Related Reading | Australian Crypto Exchanges List Shib Token’s BONE, Creating A Frenzy Among Investors  

Filed Under: News, World Tagged With: Bitcoin (BTC), Bitstamp, Cryptocurrency, Ethereum (ETH), FCA

Ripple Acquires Minority Stake In Bitstamp, Solidifying Crypto Market Influence

May 25, 2023 by Ammar Raza

Ripple, a prominent crypto payment firm, has made headlines by acquiring a minority stake in Bitstamp, one of the oldest cryptocurrency exchanges. 

The acquisition was made from Pantera Capital, a well-known hedge fund specializing in digital currencies. This news was revealed during the May 9 Galaxy shareholder conference call, where a conversation transcript surfaced.

Ripple’s purchase involves the shares previously held by Pantera Capital, a digital asset investment firm based in the United States. For nearly a decade, Pantera has been the largest shareholder in Bitstamp, owning a substantial 10% of the company along with its CEO, Dan Morehead.

The acquisition signifies Ripple’s strategic interest in expanding its influence within the crypto market. While Ripple has been primarily recognized for its payment solutions and the XRP cryptocurrency, this recent move demonstrates the company’s desire to broaden its reach and establish a stronger presence in the exchange industry.

During the conference call, Chris Ferraro, the President and Chief Information Officer of Galaxy, a leading financial services provider, shed light on the acquisition. He highlighted their involvement in advising Pantera on the sale of their stake in Bitstamp to Ripple Labs. This transaction was part of Galaxy’s thriving global markets business, which experienced remarkable growth in the investment banking sector throughout the past year.

Chris Ferraro said:

More broadly, in our global markets business, on the back of a record year for our investment banking team, we advised Pantera, a leading blockchain asset management firm, on the sale of its stake in European digital asset exchange Bitstamp to Ripple Labs in Q1.

Ripple Lawsuit & Slow U.S. Crypto Regulations

Meanwhile, industry experts continue to observe and analyze the regulatory landscape surrounding cryptocurrencies in the United States. Mike Novogratz, Founder, and Chief Executive Officer of Galaxy, shared his thoughts during the conference call. 

Novogratz expressed concerns about the slow progress of cryptocurrency regulations in the U.S. Congress and the ongoing legal battles, such as the Ripple lawsuit, which has yet to reach a judgment after three years.

Novogratz highlighted Europe’s regulatory progress in cryptocurrencies, surpassing the United States. Hong Kong, Abu Dhabi, and Dubai also strive to build strong crypto regulatory frameworks, drawing interest from crypto companies.

He further expressed industry frustration over businesses moving offshore due to U.S. regulatory uncertainties. He notes a pro-crypto faction in the Republican party pushing for favorable legislation and holding the SEC accountable through hearings.

However, this acquisition showcases Ripple’s determination to expand its global markets business and reinforces its position as a significant player in the crypto space. As the market eagerly awaits further developments, the future implications of this acquisition remain to be seen.

Related Reading | Bitcoin Sell-Side Risk Ratio Approaching All-Time Lows, Signaling Potential Volatility

Filed Under: News, Blockchain Tagged With: Bitstamp, Cryptocurrency, Ripple (XRP)

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