Ripple co-founder and former CEO Chris Larsen has amassed millions in realized profits from XRP since 2018, potentially putting the price recovery at risk. Key takeaways: Ripple co-founder Chris Larsen has realized $764,209,610 in profit from XRP sales since 2018. XRP must reclaim the 200-day SMA at $2.60 to end a downtrend. Read more
Revolut also revealed its Crypto 2.0 platform, which will feature over 280 tokens, zero-fee staking up to 22% APY and 1:1 stablecoin-to-US dollar conversion. Revolut obtained a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC), enabling it to offer regulated crypto services across all 30 markets in the European Economic Area (EEA). The move boosts Revolut’s expansion in the crypto market as the fintech prepares to launch its next-generation “Crypto 2.0” platform, the company said in a news release shared with Cointelegraph. “This authorisation enables us to deliver groundbreaking crypto products with enhanced transparency and trust for our growing customer base, while further reiterating our commitment to crypto as an asset class,” said Costas Michael, CEO of Revolut Digital Assets Europe. Read more
Russian oil companies have increasingly relied on digital assets and crypto platforms to circumvent financial sanctions, according to the European Commission. The European Union adopted its 19th sanctions package against Russia, introducing restrictions on cryptocurrency platforms for the first time since the war in Ukraine began. The measures, adopted on Thursday, prohibit Russia-based crypto payment providers and the distribution of related payment software across the bloc. The sanctions also target Russian energy firms, banks, and entities in China, Kyrgyzstan, Tajikistan, Hong Kong and the United Arab Emirates, accused of helping Moscow evade previous restrictions. “We have just adopted our 19th package of sanctions,” said Kaja Kallas, the EU’s high representative for foreign affairs and security policy. “It targets Russian energy, banks, crypto exchanges, and entities in China, among others. The EU is also regulating the movements of Russian diplomats to counter attempts at destabilisation.” Read more
WazirX’s phased comeback begins Friday, offering 30 days of zero-fee trading as the exchange rebuilds liquidity and trust after a long hiatus. India-based crypto trading platform WazirX will restart its exchange on Friday, following a long hiatus caused by a $234 million hacking incident. WazirX CEO Nischal Shetty said in a Thursday announcement that the company will relaunch trading on Friday, offering zero trading fees for at least 30 days as part of a phased reboot. “We will try our best to extend even further! We want to be with our tribe and support you in whatever way we can,” Shetty wrote on X, adding that they will do what it takes to help users become successful. Read more