Ripple CTO Confirms XRP Compatibility with CBDC Platform

Summary of Article

• Ripple CTO David Schwartz confirmed that the company’s CBDC Platform can interact with the XRP Ledger (XRPL) and XRP token.
• Crypto publication Blockworks covered the story, detailing an email exchange with a Ripple spokesperson that made clear the CBDC Platform does not require XRP to operate and central banks do not use or interact with the token.
• In response, members of the XRP Army kicked up a storm, criticizing Blockworks for inaccurate reporting.

BitDAO-Mantle Merger Creates $2.5B DAO-Led Web3 Ecosystem

BitDAO and Mantle have announced their merger to create a new decentralized autonomous organization (DAO)-led web3 ecosystem valued at over $2.5 billion. The merged entity will be dedicated to building out open financial services infrastructure powered by distributed ledger technology (DLT). These services will include lending, payments, asset management and more. With this move, BitDAO becomes one of the largest players in the decentralized finance (DeFi) space and aims to bring real-world applications to blockchain solutions.

Ripple CTO Confirms Its CBDC Platform’s Ability To Use XRP Token

Ripple CTO David Schwartz has confirmed that its CBDC platform is compatible with XRP tokens despite previously stating otherwise in an email exchange with a Ripple spokesperson. Central banks are still undecided on whether or not they will use XRP tokens when interacting with Ripple’s platform but it remains an option that could be explored in the future if they choose to do so. This news has caused some controversy among members of the crypto community as well as those in favor of altcoins who maintain that other coins should be given equal consideration for adoption by central banks alongside Bitcoin and Ethereum.

Crypto Scammers Dupe Over 14,000 People To Make $6.4M From ‘Fake Token Claims’

Crypto scammers have managed to dupe over 14,000 people into giving away nearly $6 million in Ether tokens after claiming falsely they would receive free cryptocurrency from various projects such as Elon Musk’s Mooncoin project or Vitalik Buterin’s Ethereum network upgrade proposal known as Ethereum 2.0 . The scam was able to fool many unsuspecting users into sending their funds due to its convincing website design and fake social media accounts impersonating legitimate figures within the industry like Justin Sun or Charles Hoskinson which were used to promote these fake offers furthering this scheme’s reach even further leading it earn millions before being noticed by authorities who shut it down shortly afterwards .

US Lawmaker Introduces Bill To Clarify Digital Assets Classification

A US lawmaker has introduced a bill called „The Virtual Currency Consumer Protection Act“ which would seek to clarify how digital assets are classified under existing laws while also providing consumer protection for transactions made using virtual currencies like Bitcoin or Ethereum . This bill seeks define terms such as „virtual currency“ , „digital asset“ , „stable coin“ , „securities token“ , „utility token“ , etc., while also providing guidance for regulatory compliance when dealing with these types of transactions . It is hoped that this bill will help both businesses and consumers navigate through what can be confusing legal terrain when dealing with cryptocurrencies without fear of government retribution due to inadequate understanding/knowledge of existing rules & regulations .