Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Ripple’s boss gives his views on ETFs and why he thinks the more the merrier. Stablecoin issuer Circle announced that it would cease minting its USD Coin
USDC $1.00 on the Tron network effective immediately. Meanwhile, Pro-crypto attorney John Deaton launched his Senate campaign to unseat Elizabeth Warren but didn’t mention digital assets in his announcement
Ripple chief would “welcome” an XRP ETF
Ripple’s CEO has said the company would ”welcome” an XRP-based exchange-traded fund, and he told Bloomberg he expects multiple ETFs around different tokens to become an inevitability.
Brad Garlinghouse also predicted that the space would see ETFs around baskets, which the executive believes will “diversify the risks” for investors.
When asked if Ripple is currently in talks with the ETF issuers, the CEO refused to comment. However, Garlinghouse reiterated the company’s position: “We think it makes sense for the XRP community overall.”
Garlinghouse said custody is one of the basic building blocks around crypto that would make it successful, which explains his firm’s recent acquisition of Standard Custody & Trust.
Circle to halt support for USDC on Tron blockchain
The United States-based stablecoin issuer Circle has announced that it will cease minting new USD Coin (USDC) on the Tron network effective immediately.
Circle said that it would gradually phase out support of the Tron blockchain, saying the decision aligns with its “efforts to ensure that USDC remains trusted, transparent and safe.”
While Circle didn’t provide a specific reason for pulling Tron support, it said it was rather the “result of an enterprise-wide approach that involved the business organization, compliance, and other functions across our company.”
The stablecoin issuer added that it will continue to support its business customers’ USDC transfers to other blockchains until the end of February 2025.
Additionally, it urged retail users and non-Circle customers to move their TRON-based USDC to an exchange so it can be transferred to a network where USDC is still supported.
Crypto advocate John Deaton doesn’t mention crypto in Senate campaign launch
Attorney and pro-crypto advocate John Deaton has kicked off his Senate race to unseed Elizabeth Warren—but oddly didn’t mention crypto or digital assets during his campaign launch.
In a Feb. 20 video released on X, Deaton said his campaign would focus on “taking on the Washington elites,” adding that Senator Warren “gets nothing done” for the state of Massachusetts.
“I am running for U.S. Senate to continue my life’s mission to shake things up for the people who need it most,” he said.
Although Deaton didn’t explicitly mention crypto in his campaign launch, his campaign website highlights his role advocating for the industry as an attorney, including when he filed an amicus brief on behalf of XRP holders during Ripple’s lawsuit with the Securities and Exchange Commission.
Elizabeth Warren is a staunch crypto critic who has served in the Senate since 2013.
