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U.Today presents the top three news stories over the past day.
Ripple CEO breaks silence on "huge progress" for XRP Ledger
In a recent X post, RippleX presented version 2.5.0 of Rippled, the reference server implementation of the XRP Ledger protocol. Mayukha Vadari, one of the contributors to the release, called it "possibly the best single lineup of amendments" they have ever put into one release. The new version includes such features as TokenEscrow, which allows using escrow with IOUs and multi-purpose tokens; Batch, which lets users group and execute transactions in a single step; PermissionedDEX, which opens the door to decentralized exchanges that are compliant and have access control; and more. Ripple CEO Brad Garlinghouse called the release "huge progress" and praised all the developers behind it. With updates now open for voting, operators are strongly encouraged to upgrade as soon as possible. To fully implement the changes across the network, at least 80% of validators must approve them over a period of a few weeks.
Big crypto vote coming this week in U.S. House
House Republican leaders plan to hold a vote on critical cryptocurrency legislation as soon as this week, Politico reports. The package under consideration will include stablecoin rules alongside the broader crypto market structure bill, known as the CLARITY Act. Initially, it was reported that the Republicans considered merging the bills to maintain legislative momentum. Currently, there are no details on how these bills might be merged, and it remains unclear whether they will be voted on together. According to Punchbowl News reporter Brendan Pedersen, Majority Whip Tom Emmer stated that House Republicans would vote on the Senate-passed stablecoin bill (the GENIUS Act) if it gets combined with market structure reforms. For now, the timeline of the vote is uncertain and could potentially be delayed.
Massive Ethereum ICO whale suddenly makes $12 million ETH transfer to top exchange
Yesterday, June 25, Spot On Chain X account reported a large Ethereum transaction, carrying 5,000 ETH worth $12.1 million. The transfer was made by an Ethereum ICO whale who decided to move their funds to the Kraken exchange after four months of inactivity. The aforementioned whale received 107,000 ETH at Genesis, which would now be valued at around $243 million; back then, the tokens cost them only $31,000. According to CoinMarketCap, Ethereum is one of the worst-performing top 10 cryptocurrencies, with a weekly drop of 3.41%. At press time, ETH is changing hands at $2,416, up only 0.46% over the past 24 hours. The asset remains over 50% below its all-time high from late 2021, even as Bitcoin reached new peaks in May.
Vladislav Sopov
U.Today Editorial Team