Here are the top three news stories over the past day presented to you by U.Today.
No more XRP reports? Ripple CEO announces key change
In a recentX post, Ripple CEO Brad Garlinghouse commented on his company's Q1, 2025, XRP markets report whileintroducing a key change in their format. According to Garlinghouse, moving forward, the XRP Markets Report "will look a little different": instead of being combined in a single quarterly report, updates on Ripple's XRP holdings will be released in a series of social media and blog posts. Initially introduced in 2017, Ripple's reports aimed to ensure greater transparency; however, Garlinghouse claims that later the transparency provided by these reports was "weaponized" by the U.S. SEC in its lawsuit against the company. The regulator referenced some of Ripple's disclosures to argue that XRP is not sufficiently decentralized.
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Coinbase CEO breaks silence on critical stablecoin law
Yesterday, May 6, Coinbase CEO Brian Armstrongtook to X platform to urge the Senate to begin debate on the GENIUS Act, a bill aimed at establishing clear rules for stablecoin issuers. The bill proposes a federal licensing process for stablecoin issuers, requires issuers to hold enough reserves to protect consumers and introduces a dual regulatory structure (larger issuers would be regulated by federal authorities, while smaller ones could continue to be supervised by state regulators). According to a recent report by the U.S. Treasury Department, the stablecoin market has the potential to grow from $230 billion to $2 trillion by 2028, driven by increased regulatory clarity and demand from institutions. However, the report also warns that this growth could challenge traditional banks by pulling deposits away, prompting lawmakers to act swiftly on stablecoin legislation before the August recess.
Shiba Inu's odds of losing zero growing fast
Shiba Inu is gaining attention as it aimsto erase another zero from its price, a topic that has been discussed within the SHIB community for months. SHIB briefly achieved this milestone but then retreated back to five zeros after the decimal point, failing to sustain the momentum. However, recent trends and historical data suggest potential for further growth. At press time, SHIB is trading at $0.00001275, up 1.55% over the past 24 hours, per CoinMarketCap. Also, the meme coin has seen a 3.8% increase over the past month. Historically, May has been a favorable month for SHIB; per Cryptorank, over the past four years, Shiba Inu has an average increase of 61% in May. In May 2021, the price of SHIB surged by an outstanding 355.4% and 13% last year. Additionally, recent token burns could further boost SHIB's value.
