ripple

Garlinghouse stated that Ripple will prioritize the use of XRP in suitable scenarios, but some transactions are more suitable for using fiat currency or Ripple's stablecoin RLUSD. He introduced that about half of the RLUSD is issued on the XRP Ledger, which can bring liquidity and trading volume to the network. He also mentioned that XRP can serve as a bridge asset between different currency pairs.

As of 1:42 AM Beijing time, 100 million XRP (worth approximately 125 million USD) has been locked in Ripple's custody account.

According to Whale Alert monitoring, Ripple unlocked 500 million XRP, worth approximately 626 million dollars.

According to a report by CNBC, data from Public Citizen shows that crypto-related organizations have donated over $200 million in this round of the U.S. election cycle, attempting to influence the 2026 midterm elections and push Congress to pass regulations favorable to the industry. One of the current priority goals for the industry is to promote comprehensive digital asset market structure legislation after the Clarity Act was stalled.Fairshake and its affiliated super PAC are supporting 33 House candidates, including 19 Republicans and 14 Democrats. Coinbase and Ripple each donated $25 million to Fairshake's midterm election efforts in 2025. The Ohio Senate election is a key battleground.Fairshake stated that this election cycle has spent $55 million opposing long-time critic of the crypto industry, Democratic candidate Sherrod Brown, whose opponent is pro-crypto Republican incumbent Senator Jon Husted.The advocacy organization Stand With Crypto, initiated by Coinbase, has endorsed 45 candidates, including 42 House candidates and 3 Senate candidates. The Clarity Act was stalled in the Senate in September, with Democratic lawmakers arguing that it is insufficient to prevent government officials from profiting from crypto businesses.Reports indicate that if the bill cannot advance by the end of the year, the new Congress will need to restart market structure legislation. Coinbase Vice Chairman Ryan VanGrack stated that regardless of who is elected, the industry will still gain more regulatory clarity, but there remains uncertainty about whether legislation can ultimately be completed.

Jack McDonald, Senior Vice President of Ripple's stablecoin business, posted on social media that Ripple is closely monitoring reports regarding a potential attack on Binance and the attackers holding RLUSD.Jack McDonald stated that Ripple is actively freezing affected funds, coordinating with relevant parties, and is ready to support any investigations and appropriate actions to protect users.

According to The Block, Ripple expects to reach an annualized product revenue run rate of $900 million by the end of 2026, with growth coming from payments, custody, stablecoins, prime brokerage, and capital markets. The number of customers and partners using multiple Ripple products has doubled this year.The Ripple payment network is expected to reach a cumulative transaction volume of nearly $150 billion by the end of the year, with the stablecoin RLUSD's market capitalization reaching $2.6 billion. Financial institutions are utilizing Ripple's infrastructure for tokenized assets and transactions, with related business extending beyond payments and stablecoins.Ripple CEO Brad Garlinghouse stated that traditional finance and digital finance are merging, market infrastructure is moving to a modern track, settlements are shifting to real-time and around the clock, and tokenized assets can be used for trading, financing, and collateral.

According to official news, the cryptocurrency company Ripple announced a partnership with Coinbase to expand the access of RLUSD in the U.S. market.RLUSD will be launched on Coinbase Prime, Coinbase Exchange, and the retail application, supporting 1:1 conversion with U.S. dollars and dollar-pegged stablecoins, and plans to support collateral features on Coinbase Global Exchange.

Moody's has assigned an A2 long-term deposit rating and a P-1 short-term deposit rating to the stablecoin RLUSD issued by Ripple, covering the rating range for RLUSD natively issued on the XRP Ledger and Ethereum.According to The Defiant, this rating incorporates the reserve backing arrangements of RLUSD in its assessment and weighs the risk exposure for holders due to the issuer's bankruptcy. The rating also applies to the native RLUSD assets on both of the aforementioned chains.

According to CoinDesk, U.S. Treasury Secretary Scott Bessent stated at the Ripple Swell conference that digital assets can help reinforce the global dominance of the U.S. dollar. Bessent noted that historically, the strength of the world's reserve currency came from military power, but it is increasingly shifting towards technological leadership. The U.S. will maintain its military umbrella, but the technological umbrella is becoming more important. He believes that the U.S. will win in the digital asset technology stack, which will continue to solidify the dollar's position.Bessent stated that over 90% of stablecoins are backed by the U.S. dollar, and issuers often hold U.S. Treasury bonds as reserves. As adoption grows, the demand for such assets may rise, becoming a new source of financing for the federal government. He believes that stablecoins will open up new global markets rather than merely replacing existing dollars. Regarding the failure of the Clarity Act, Bessent expressed disappointment, but noted that the Treasury can work with the SEC and CFTC to advance regulation through institutional action. He also mentioned that regulatory best practices and safeguards can prevent crypto companies from being de-banked.

The cryptocurrency industry has spent approximately $176 million in this round of the U.S. midterm election cycle, covering over 100 elections, aiming to establish a bipartisan network of congressional allies to continue advancing legislative demands after Trump's departure. As of October 20, the super political action committee Fairshake and its affiliated organizations have spent about $150.8 million, with other cryptocurrency organizations spending around $25 million, major funders including Coinbase, Ripple, and a16z.Fairshake claims that among the 58 candidates it supported in primaries or special elections this year, 53 won. The organization supported bipartisan candidates in the House elections; after Senate Democrats blocked the CLARITY Act from reaching a final vote, it decided to support only Republican candidates in the Senate elections.The industry's spending in the Ohio Senate election has exceeded $68 million, focusing on long-time critic of the cryptocurrency industry Sherrod Brown, with related advertisements mostly avoiding mentioning cryptocurrencies and instead focusing on issues like taxes. Pushing for the passage of the CLARITY Act is a core goal of the industry, but the bill has stalled in this Congress. JPMorgan analysts indicate that without the bill, rules set by regulators during Trump's term may be overturned by subsequent administrations.

The trading platform Robinhood announced its third-quarter financial report, with revenue of $1.42 billion, slightly below Wall Street's expectation of about $1.43 billion; earnings per share were $0.51, lower than the expected $0.55 and also down from $0.61 in the same period last year. Net profit was $476 million, a year-on-year decrease of 14% and a quarter-on-quarter decrease of 17%. This quarter included an unrealized loss of $67 million from Robinhood Ventures Fund I, equivalent to $0.07 per share; adjusted earnings per share were $0.60, a year-on-year decrease of 3%. After the financial report was released, the stock price fell in after-hours trading, closing at about $94.61 on Tuesday, a cumulative decline of about 18% for the year.By business segment, event contract revenue increased from $156 million in the second quarter to $173 million, with customer trading volume reaching a record 16.4 billion contracts, more than seven times that of the same period last year. Cryptocurrency trading revenue rebounded from $100 million in the second quarter to $120 million, but was down 55% from $268 million in the third quarter of 2025; this quarter's cryptocurrency trading volume was $50 billion, a year-on-year decrease of 38%, with $21 billion from in-app and $29 billion from its acquired exchange Bitstamp.Robinhood narrowed its guidance for adjusted operating expenses and equity incentive costs for 2026 to $2.675 billion to $2.75 billion, lowering the previous upper limit of $2.775 billion. A few hours before the financial report was released, the company announced a partnership with Ripple to introduce the stablecoin RLUSD to Robinhood Chain and Bitstamp, with plans to launch it in-app later this year; RLUSD has a market capitalization of over $2.5 billion, and Ripple will also provide fund management software and lending services for Bitstamp traders. Robinhood Chain went live as a Layer 2 network on July 1, generating about $3.13 million in fees within 30 days as of the end of August, surpassing Ethereum and Base.

According to an official announcement from Ripple, Bank of New York Mellon (BNY) has supported XRP and the US dollar stablecoin RLUSD on its digital asset custody platform. Eligible institutional clients can custody, hold, and transfer related assets through this platform. The two parties are further expanding their digital asset collaboration based on the existing RLUSD reserve custody and Ripple Prime custody partnership.BNY plans to expand support for tokenized assets and investment products on the XRP Ledger (XRPL) and collaborate with Ripple, allowing clients to directly mint and redeem RLUSD through BNY in the future. Additionally, both parties are exploring XRPL-based supply chain financing solutions with the working capital platform C2FO, tokenizing trade financing assets such as accounts receivable to broaden investor participation channels.

In the cryptocurrency industry, Coinbase ranks 5th among donation organizations with approximately 57.8 million USD, and 12th on the overall list; Ripple donated about 49.6 million USD, ranking 7th among donation organizations and 17th on the overall list; Gemini founders Cameron and Tyler Winklevoss donated a total of about 55.9 million USD, ranking 13th on the overall list; Foris Dax ranks 24th on the overall list with 39 million USD.

Ripple CEO Brad Garlinghouse stated that the Office of the Comptroller of the Currency (OCC) has finally approved the application related to Ripple National Trust Bank. This approval will provide Ripple with a business platform under a federal regulatory framework to support its dollar stablecoin RLUSD and offer digital asset custody services to enterprise clients.Garlinghouse noted that this move reflects the integration of the cryptocurrency industry with the traditional banking system, emphasizing the importance of innovation, accountability mechanisms, and federal regulation.

The California Department of Financial Protection and Innovation (DFPI) has submitted a letter to the U.S. Securities and Exchange Commission (SEC) opposing its "Regulation Crypto Assets" proposal, stating that the plan could undermine investor protection and limit state governments' oversight of issuance projects. DFPI Commissioner KC Mohseni stated that California opposes federal regulators weakening state regulatory authority and protective measures.The proposal aims to allow eligible issuers to raise up to $5 million over four years through a startup exemption; another cryptocurrency financing exemption allows issuers to raise up to $75 million within 12 months. Relevant issuances must disclose project details, risks, and other information necessary for investor assessment, and some financing must also submit financial statements and ongoing reports. Federal securities laws still retain the authority for states to investigate securities fraud, deceptive practices, and illegal broker or dealer activities. Blockchain payment company Ripple, cryptocurrency exchange Coinbase, and exchange operator Nasdaq all support the adjustment proposal; DFPI stated that its fraud tracking list has added nearly 200 cryptocurrency-related scams, a 30% increase from the previous year.

According to The Washington Post, based on data from the Federal Election Commission (FEC), the top 50 donors before the 2026 midterm election cycle have collectively contributed approximately $2.39 billion, with about $1.54 billion going to the Republican camp, about $590 million to the Democratic camp, and approximately $259 million to special interest groups.The cryptocurrency industry holds several positions among the major donors. Coinbase ranks 11th with approximately $57.7 million, while Gemini founders Cameron and Tyler Winklevoss have donated a total of about $55.3 million, placing them 12th; Ripple contributed about $49.6 million, and Foris Dax about $38.6 million. Among individual donors, Elon Musk leads with approximately $369 million, with his funds primarily directed towards super PACs and related organizations supporting Republican candidates.

Digital asset treasury company Evernorth Holdings, Inc. and SPAC company Armada Acquisition Corp. II announced that the U.S. Securities and Exchange Commission (SEC) has declared the S-4 registration statement related to their proposed business combination effective. This registration statement covers up to 11,499,992 shares of Class A common stock that may be issued and sold upon the exercise of warrants, calculated at an exercise price of $11.50 per share, corresponding to a scale of approximately $132.2 million.According to the arrangement, Armada shareholders registered as of August 20, 2026, will hold a special meeting on September 30, 2026, to vote on the transaction. If the transaction is approved and customary closing conditions are met, the combined company is expected to be listed on Nasdaq under the ticker symbol "XRPN," with the transaction anticipated to be completed by the end of the third quarter or the beginning of the fourth quarter of 2026. Asheesh Birla, founder and CEO of Evernorth, stated that the effectiveness of the registration statement is an important milestone in completing the proposed business combination.Evernorth is positioned as a digital asset treasury company aimed at building institutional-level XRP economic exposure, planning to deploy funds into the XRP ecosystem through strategies designed to enhance the per-share XRP holdings. Its investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.

Ripple's brokerage business Ripple Prime (formerly Hidden Road) announced that institutional clients can now trade swap contracts linked to over 100 stocks, commodities, and foreign exchange markets around the clock, using the USD stablecoin RLUSD issued by Ripple as collateral. These swap contracts track perpetual futures listed on the cryptocurrency derivatives exchange Hyperliquid by Trade.xyz, which have no expiration date and can be traded 24/7, allowing funds to build positions in assets like gold while traditional markets are closed. Ripple announced on October 15 that trading company Virtu is already using this service.HSBC's head of digital asset research, Daragh Maher, stated in a report sent to clients on Monday that this launch is "evolution rather than revolution." He wrote that it is a rapidly growing market but still far smaller than the traditional financial markets it tracks, and the product's appeal will be stronger only when the market has sufficient depth, allowing investors to express views and adjust risks while traditional markets are closed. HSBC expects early activity to focus on market makers, proprietary traders, and hedge funds seeking basis trading, rather than institutions looking for strategic hedging.The risks of weekend trading have already become apparent. Last Saturday, approximately $52 million in leveraged chip stock positions were forcibly liquidated within 10 minutes, with the sell-off spreading from Binance to Hyperliquid, while the underlying stocks were not trading, and the contracts lacked new stock market prices for reference. HSBC stated that Ripple's success depends on whether the service is cheaper, simpler, and can better utilize client collateral compared to existing brokers. The new swap business is offered under Ripple Prime's British Virgin Islands license, with plans to expand to more jurisdictions in the future.

The XRP Ledger vulnerability fix package named fixCleanup3_4_0 is expected to officially take effect around 09:34 UTC on October 23. This fix package has received votes from 29 validators, surpassing the threshold of over 80% approval among the network's default 35 validators, and must be maintained continuously for two weeks. The countdown has been ongoing for nine days. Since there is no margin in the vote count, if any validator withdraws support, the countdown will restart.This fix package partially addresses the unsecured lending system that Ripple has been promoting to banks and payment companies since June, but this system has not yet been activated. Currently, the lending amendment has only 19 votes, and the vault amendment for holding funds has 21 votes, neither of which has started the countdown. Therefore, even if both reach 29 votes today, the lending function will not be available until early November at the earliest.As designed, lenders will deposit XRP or other tokens into the vault, and loan brokers will then lend out the funds for a fixed term. The ledger is responsible for recording the loans and tracking repayments, while brokers assess the borrower's qualifications off-chain. Since borrowers do not need to provide collateral, the broker's judgment becomes the only guarantee for lenders against default losses. Ripple has promoted this scheme to payment companies that need liquidity during cross-border settlement. Additionally, the fix package also closes a vulnerability that allowed accounts authorized to destroy tokens to create new tokens under specific conditions and adjusts the rounding of vault amounts as well as the rules for determining loan overdue and default.