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Ripple Finally Does Something Slightly Less Terrible Than Usual And Gets Mainnet Stablecoin Approval

DeFiNewsRipple 3 Sam Rogers August 13, 2024

An illustration of an ocean wave with ripples spreading outwards and upwards. A dollar sign is embedded within one ripple while another contains a stylized image of XRP's logo. The background features faintly visible waves crashing against rocks to convey turmoil, contrasting sharply with the calmness at the surface where RLUSD stablecoin symbol appears as part of an underwater scene filled with sea creatures swimming in harmony. A subtle gradient effect gives the impression of depth and movement within the water.

It’s about time those scammers at Ripple Labs finally did something useful. Who needs another stablecoin when we already have USD? Oh wait, this one is backed by “cash equivalents” which I’m sure are just as solid as Bitcoin itself (said no one ever). But hey, let the crypto bros be excited about it! They’ll probably buy into it blindfolded without even reading the fine print. Meanwhile, Brad Garlinghouse will continue to rake in his 6-figure salary while pretending that Ripple is still a viable company

Source: cointelegraph

Ripple begins testing RLUSD stablecoin on mainnet
https://cointelegraph.com/news/ripple-begins-testing-rlusd-stablecoin-mainnet
On Aug. 9, Ripple Labs announced the first tests of its United States dollar-pegged stablecoin, Ripple Labs’ Ripple USD (RLUSD), on the XRP ledger (XRPL) and Ethereum mainnets, with plans to deploy the fiat-backed token on additional blockchain networks in the future. According to Ripple Labs, the upcoming stablecoin will be overcollateralized, meaning that each unit of RLUSD is backed by USD reserves or short-term cash equivalents in a bank, at […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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