Here are U.Today's top three news stories over the past day.
$500,000,000 XRP treasury plan announced by Nasdaq-listed company
In a recentannouncement, Trident, a Singapore-based Nasdaq-listed tech company, has revealedits plans to raise $500 million to build its XRP treasury strategy. The purchased tokens will serve as Trident's long-term strategic reserves. The rollout of the XRP Treasury is expected to start in the second half of the year, contingent on market conditions and regulatory compliance. Soon Huat Lim, founder, chairman and CEO of Trident, stated that this initiative reflects the company's belief in the transformative potential of blockchain technology. "Through this initiative, Trident aims to demonstrate how public companies can thoughtfully and responsibly participate in the ongoing development of decentralized finance," he said.
140,000 ETH exits exchanges in one day – What's happening?
As reported by Sentora (previously IntoTheBlock) in a recentX post, on Wednesday, June 11,over 140,000 ETH (worth around $393 million) were withdrawn from crypto exchanges. This marked "the largest single-day withdrawal in over a month," reads the post. This large outflow occurred at the time as ETH's price surged above the $2,760 level; the last similar ETH withdrawal occurred on May 12, when ETH was trading at around $2,520. Meanwhile, Glassnodereports that Ethereum futures open interest (OI) hit a record $20 billion. This open interest, fueled by cash-margined contracts and stablecoin leverage, indicates rising trader speculation despite ETH falling below $2,800. Currently, ETH is changing hands at $2,551, down 7.32% over the past 24 hours, per CoinMarketCap.
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SEC and Ripple file for settlement agreement
Eleanor Terrett, former Fox Business journalist,has reported a new step in the Ripple-SEC legal battle in a recent X post. According to the post, the two partieshave requested the Manhattan District Court to approve an injunction and release the $125 million civil penalty held in escrow. The step suggests that the long-running case could be nearing its conclusion. Under the proposal, Ripple would pay $50 million to the SEC and receive $75 million back. This request was submitted to Judge Analisa Torres of the Southern District of New York, aiming to have the case settled and prevent the appeals that are pending and any further litigation. Although the court has not granted this motion, the joint filing shows cooperation between Ripple and the SEC. If approved, it could set a precedent for how crypto companies handle regulation and serve as a model for others.
