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XRP Creator's RLUSD Hits $1B Milestone

Ripple’s RLUSD stablecoin has surpassed $1 billion in market capitalization within less than a year of its launch in December 2024, positioning itself as the 10th largest U.S. dollar-backed stablecoin. The circulating supply is divided between $819 million on the Ethereum blockchain and $203 million on the XRP Ledger. Ripple attributes the growth to increasing institutional demand and expanding payment flows, with RLUSD acting as the primary stablecoin for its operations, having processed nearly $100 billion in payment volume. Ripple's acquisitions over the past year, including a prime broker and a stablecoin payments firm, have also contributed to its growth strategy. The rapid ascent of RLUSD contrasts with the longer timeline typically observed for stablecoins reaching the billion-dollar mark, suggesting Ripple effectively leveraged its existing customer base and global financial network to drive adoption. Monica Long, Ripple's president, emphasized continuing organic and inorganic growth, expanding their global influence with over 75 licenses.

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US Treasury Sanctions North Korean Bankers for Crypto Crime

The U.S. Treasury has sanctioned eight North Korean bankers and two companies for their involvement in laundering stolen cryptocurrency to support North Korea's weapons programs. These operatives, predominantly based in China and Russia, utilized international financial networks to obscure the origins of funds obtained from ransomware attacks

US Treasury Sanctions North Korean Bankers Tied to Crypto Crime

The U.S. Treasury Department has sanctioned eight North Korean bankers and two companies for laundering stolen cryptocurrency to support North Korea's weapons programs. Officials reported that these bankers, primarily operating from China and Russia, utilized international financial networks to disguise funds derived from ransomware and crypto thefts.

US Treasury Sanctions Web of North Korean Bankers Tied to Global Crypto Crime Operation

The U.S. Treasury has sanctioned eight North Korean bankers, two companies, and 53 cryptocurrency wallets for laundering stolen funds to support North Korea's weapons programs. These individuals, primarily based in China and Russia, allegedly utilized international financial networks to obscure the origins of funds from ransomware attacks

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