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"Ripple’s RLUSD Stablecoin Debuts on Root Network"

The Crypto Basic

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#Ripple secures the launch of RLUSD on the Root network amid the latest collaboration, expanding the stablecoin’s liquidity. 

Read more on: https://thecryptobasic.com/2025/01/17/ripple-stablecoin-rlusd-now-live-on-the-root-network/
#CryptoNews🚀🔥V 

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#Cardano Founder Charles Hoskinson recently reiterated that Cardano’s Midnight will cooperate with major ecosystems like Ethereum, Solana, Avalanche, and XRP Ledger. During his remarks at Consensus 2025 in Toronto, Hoskinson explained that the new privacy-focused network is built to integrate rather than compete. Midnight will enable developers to pay transaction fees using native tokens from their own chains, removing the need for asset migration. This model supports interoperability without forcing ideological alignment, to create a callable infrastructure rather than a standalone ecosystem. This cooperative model, which Hoskinson described as “cooperative economics,” directly challenges the zero-sum mindset prevalent in Web3 development. Rather than attempting to dominate, Midnight seeks to act as a bridge between platforms. Privacy Design Confronts Transparency Overreach However, according to Hoskinson, technical integration alone does not address the industry’s foundational weaknesses. Notably, the founder also raised another structural issue: privacy. While the blockchain industry has succeeded in creating transparent and immutable ledgers, he argued that excessive visibility now undermines user security. He cited stablecoins such as USDT and USDC, where every transaction is publicly traceable. This, he said, creates a system resembling financial surveillance. Midnight’s development was initiated six years ago within Input Output to offer an alternative. It operates as a privacy layer that allows selective disclosure, limiting sensitive financial or medical data exposure. Shielded, a newly formed engineering subsidiary, now leads the technical build-out of the network. Additionally, a new coordinating entity, the Midnight Foundation, has been launched under the leadership of Fahmy Syed to manage governance. Through these structures, the network aims to balance transparency with necessary confidentiality... #CryptoNewsCommunity

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U.S. District Judge Analisa Torres has rejected a joint request by #Ripple and the SEC to modify key elements of a previously issued judgment. The decision, detailed in a court order dated May 15, represents a procedural setback for Ripple and the SEC, who had reached an agreement earlier this month to conclude the case under revised terms. Notably, the original motion in question, submitted on May 8, sought two primary changes: the removal of the permanent injunction prohibiting Ripple from engaging in future institutional sales of XRP, and a reduction of the $125 million civil penalty imposed on Ripple to $50 million. This agreement followed a change in regulatory posture at the SEC, following the resignation of former SEC Chair Gary Gensler. The newly instated leadership has adopted a more conciliatory approach toward the crypto industry, seeking to wind down various high-profile enforcement cases, including this one. Judge Torres Denies the “Settlement” Motion Despite the joint support from both Ripple and the SEC for the proposed resolution, Judge Torres ruled that the motion had a procedural flaw. According to her order, the parties filed the motion under the incorrect rule of civil procedure. They had framed their request as a motion for settlement approval but failed to meet the stringent legal requirements necessary to vacate a final judgment, such as the permanent injunction and penalty initially imposed. Specifically, they did not reference or satisfy the criteria under Rule 60 of the Federal Rules of Civil Procedure, which governs motions for relief from final judgments. Judge Torres clarified that the court could grant such relief in rare and exceptional circumstances, which the parties had not demonstrated. The judge stressed that if her jurisdiction were reinstated, as the case is currently on appeal, she would still deny the motion as improperly filed. Ripple CLO, Other Legal Experts Comment Following the decision, Stuart Alderoty, Ripple’s Chief Legal Officer, clarified the implications of the ruling... #Crypto

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