ChainCatcher news, Ripple Labs has conducted tests for its new stablecoin product RLUSD, including token minting and transfers, with tests carried out on the XRP Ledger and Ethereum blockchain. Over the past few months, Ripple Labs has been continuously testing RLUSD to join the rapidly growing stablecoin ecosystem. The latest minting involved approximately 9,999,700 RLUSD tokens, with the XRP Ledger index at 146.Previous news, according to FOX Business citing informed sources, the New York Department of Financial Services has indicated to Ripple that it will approve the launch of its new stablecoin product—RLUSD, which is scheduled to be launched on December 4.

ChainCatcher news, Jorge Tenreiro, who previously served as the acting head of the cryptocurrency and cybersecurity oversight division of the U.S. Securities and Exchange Commission (SEC), has been appointed as the chief litigation counsel, expanding his responsibilities. Tenreiro played a significant role in several landmark cases, including the lawsuit against Ripple Labs.This promotion comes as the Trump administration is about to take office, indicating that the SEC will continue to enforce strict cryptocurrency regulations. The establishment of Tenreiro's new position is expected to drive crypto innovation while continuing to focus on areas such as ICOs, token sales, and market manipulation, further influencing the legal standards for cryptocurrencies.

ChainCatcher news, Ryan Kim, founding partner of the crypto investment firm Hashed, stated on social media that in 2014, Ripple Labs sold XRP in South Korea through the "Ripple Market Korea" project in a "Ponzi scheme" manner, attracting a large number of South Korean investors. These early investors may have received substantial returns, and there is a real XRP community in South Korea, which is why many Koreans are buying XRP.According to a report from South Korean media in November 2014, the platform operator Ripple Market Korea completed its first round of sales within 2 hours on its opening day. The platform issued its own token RMK, promising to return transaction fee profits to users based on their holdings. At that time, the platform promoted advantages such as the ability to exchange XRP with various national currencies, investment from Google Ventures, and compliance with U.S. regulations.

ChainCatcher news, according to Cointelegraph, rumors have begun circulating on social media about Ripple Labs CEO Brad Garlinghouse's recent meeting with incoming President Trump, as the company and Garlinghouse face criticism from industry executives. In response to these rumors, former Messari CEO and founder Ryan Selkis commented, "Brad Garlinghouse is vigorously promoting the deployment of XRP and CBDCs." Riot Platforms Vice President of Research Pierre Rochard retweeted Selkis's comment.Rochard agreed with Selkis's view and wrote, "We cannot allow Ripple to influence U.S. policy-making with their anti-Bitcoin agenda," and expressed hope that Trump would appoint more Bitcoin supporters to his administration. It is rumored that Garlinghouse's meeting with Trump was one of the catalysts for the recent rise in XRP.When appearing on Fox Business recently, Garlinghouse neither confirmed nor denied the rumors of a meeting with Trump. However, he expressed confidence in the future of the crypto industry under Trump's administration. He also stated that he was not surprised by the positive reaction of the crypto market following Trump's victory on November 5. Garlinghouse pointed out that SEC Chairman Gary Gensler's hostility towards the industry is a major driving force suppressing U.S. crypto projects.

ChainCatcher news, Ripple Labs CEO Brad Garlinghouse admitted that his company should have engaged with U.S. regulators earlier. Now, after becoming the recipient of enforcement actions, the company and the cryptocurrency industry are striving to catch up.Brad Garlinghouse stated at the Washington Fintech Week event, "I have been to Washington much more in the past few years than in previous years. Looking back, I regret that. I think it was a mistake not to act sooner, and we are working hard to make up for lost time."Ripple is one of the U.S. cryptocurrency companies recently embroiled in legal disputes with the U.S. Securities and Exchange Commission, with many U.S. cryptocurrency executives claiming that the regulator is hostile and unfair to the industry.Previous news, Citigroup has terminated banking services for Ripple's CEO.

ChainCatcher news, according to The Block, the crypto derivatives exchange Bitnomial announced the completion of a $25 million financing round led by Ripple Labs. At the same time, Bitnomial launched a perpetual futures trading platform called Botanical, which is currently in a closed testing phase.The Botanical platform will provide investors with perpetual futures, traditional futures, and options trading services. Bitnomial CEO Luke Hoersten stated that the company is boldly advancing its mission to provide users with a regulated and innovative trading experience through Botanical, offering an alternative to the currently widely used decentralized exchanges and VPN-based workarounds.Ripple CEO Brad Garlinghouse believes that Bitnomial's introduction of an offshore trading model into the U.S. derivatives industry presents a significant opportunity for establishing a compliant digital asset derivatives market (such as XRP). Bitnomial will utilize Ripple's RLUSD stablecoin for the settlement of perpetual futures.Previous news, Bitnomial filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), questioning its regulatory authority over XRP futures contracts.

ChainCatcher news, according to CoinDesk, Ripple Labs announced on Thursday that the company will appeal the ongoing case against the U.S. Securities and Exchange Commission (SEC) as part of maintaining its legal defense while the SEC's appeal in the case is under review by the appellate court.Earlier this month, the SEC filed a notice of appeal regarding the long-standing case against Ripple, which the regulatory agency first sued in December 2020. Chief Legal Officer Stuart Alderoty stated that Ripple's appeal aims to ensure that the company retains its views and arguments in the case, but he did not elaborate on what the company might argue in its motion. He said, "We are doing this to ensure that we leave no room for arguments, including the argument that an investment contract cannot exist without the fundamental rights and obligations in the contract."Similar to the documents submitted by the SEC last week, Ripple's initial filing is merely a notice indicating that a more comprehensive argument will be submitted in the future. Alderoty stated that both parties will fill out a form in the coming weeks to provide "a fairly high-level description" of their arguments, but neither the regulatory agency nor the company will disclose specific details before submitting their opening statements. The SEC's brief may be released around the end of January, while Ripple's opening brief (which will be combined with its opposition to the SEC's brief) will be released at a later time.

ChainCatcher news, according to Tree News, Ripple Labs Inc. has submitted a notice of appeal to the U.S. Court of Appeals for the Second Circuit.

ChainCatcher news, according to Cointelegraph, the political action committee Commonwealth Unity Fund, primarily funded by the co-founders of Gemini and Ripple Labs, has invested over $600,000 to support Republican Senate candidate John Deaton.According to Federal Election Commission (FEC) records, the super PAC spent about $330,000 on media buys opposing incumbent Democratic Senator Elizabeth Warren, while spending the same amount to support Deaton.It is reported that Deaton is a lawyer who supports crypto companies like Ripple, and he has criticized the SEC and Senator Warren for their excessive intervention in digital assets. FEC records show that Commonwealth has raised over $2.5 million to support Deaton, while Warren has raised over $18 million for her re-election since 2019. Other crypto-supported PACs like Fairshake have also invested heavily in congressional elections.

ChainCatcher news, according to the report "Social Capital Market", Coinbase has increased its lobbying expenditure by 3,475% over the past seven years. The cryptocurrency exchange's spending rose from $80,000 in 2017 to $2.86 million in 2023.Ripple Labs also increased its lobbying expenditure from $50,000 to $940,000 during the same period, a growth of 1,780%. Binance.US's lobbying expenditure grew by 656%, reaching $1.2 million in 2023. Tether, Uniswap, and Block Inc. also spent $1.2 million, $280,000, and $1.7 million on lobbying in 2023, respectively.The total lobbying expenditure of the entire cryptocurrency industry has increased by 1,386% since 2017.

ChainCatcher News: U.S. President Biden's senior economic advisor and former Ripple Labs board member Gene Sperling will leave the White House to join Vice President Harris's 2024 presidential campaign team. Biden announced this personnel change on August 5.It is reported that Sperling has served as a senior advisor to the Biden administration since 2021, having previously worked in the Clinton and Obama administrations, and joined the Ripple board in 2015. Former Coin Security Council advisor David Plouffe will also support Harris's campaign.

ChainCatcher news, Ripple Labs has sold its stake in Tranglo, a Malaysia-based payment company that utilizes XRP for international transactions. XRP community member Crypto Eri published an article on the X platform on Monday, citing the latest news from Crunchbase that disclosed this development.The latest records from Crunchbase show that Ripple Labs has exited its investments in the Bitstamp exchange and Tranglo. The company's exit from Bitstamp may be due to Robinhood's acquisition, while the divestment from Tranglo was unexpected.

ChainCatcher news, Ethereum's first SVM Layer2 network Eclipse founder Neel Somani has left, and Vijay Chetty will be appointed as the CEO of Eclipse Labs. Chetty will be promoted from Chief Growth Officer and will take on all responsibilities of the CEO.It is reported that Chetty has over ten years of native cryptocurrency experience, having held leadership positions at Uniswap Labs, dYdX Trading, and Ripple Labs, in addition to his investment experience at BlackRock.

ChainCatcher news, according to Fortune, a new report from the consumer rights organization Public Citizen details the extent of donations in the cryptocurrency industry, finding that super PACs (Political Action Committees) related to digital assets have raised over $102 million for the 2024 election, ranking third among all super PACs, with more than half coming from direct corporate spending, primarily provided by Coinbase and Ripple Labs.Additionally, in the six completed primaries where cryptocurrency super PACs intervened, only one crypto-backed candidate lost.