What Happened in Crypto Today: 17 December Cryptocurrency News

What Happened in Crypto Today: Latest Updates on 17 Dec Crypto News

Ripple’s RLUSD Stablecoin Launch on Uphold: XRP Gains

Ripple’s USD stablecoin, RLUSD, launches on Uphold on December 18, offering rewards to the XRP community. Uphold CEO Simon McLoughlin praised Ripple's innovation. RLUSD, backed 1:1 by USD reserves, features enterprise-grade security and third-party audits. XRP holders will earn 5% rewards and early access to new tokens. RLUSD will also launch on other platforms like MoonPay and Archax. Notable banking experts, including Raghuram Rajan, will join the RLUSD advisory board.

MicroStrategy Buys More Bitcoin, Joins Nasdaq 100 Index

MicroStrategy purchased 15,350 Bitcoin for $1.5 billion, increasing its total to 439,000 BTC. The acquisition was funded by selling Class A shares. The company’s stock surged, and it will join the Nasdaq 100 Index on Dec. 23. Executive Chairman Michael Saylor remains bullish on Bitcoin, and upcoming accounting rule changes could benefit MicroStrategy. The firm controls 2.1% of Bitcoin's total supply, with its stock price soaring 490% this year.

PENGU Coin: Listing on Binance, OKX, and Bybit

PENGU, the official cryptocurrency of Pudgy Penguins, will be listed on Binance, Bybit, and OKX for spot trading on December 17, 2024. The initial price is set at $0.10 per token, with a market cap of $7 billion. This significant listing will enhance PENGU's visibility and utility, expanding the Pudgy Penguins community and bridging the gap between fans and mainstream audiences.

FTX to Start Customer Repayments in Early 2025

FTX will begin repaying customers in early 2025, starting within 60 days from January 3. Payments will be handled by Kraken and BitGo, with a third partner to be announced. Creditors with claims under $50,000 will be prioritized. To qualify, customers must complete KYC verification and onboard with Kraken or BitGo by January 3. Nearly 94% of creditors approved the bankruptcy plan, which promises at least 118% recovery of claim values.

Ethena Launches USDtb Stablecoin Backed by BlackRock Fund

Ethena introduced USDtb, a stablecoin backed primarily by BlackRock's $500M BUIDL fund. With over 90% reserves in BUIDL and the rest in stablecoins and tokenized Treasuries, USDtb reduces risks associated with Ethena's synthetic dollar, USDe. Managed by Pallas, USDtb aims to stabilize USDe during market fluctuations. It’s submitted for Sky’s Tokenization Grand Prix and reviewed for security. Ethena’s governance token, ENA, surged after a purchase by World Liberty Financial.