Ripple Receives Approval for Stablecoin

Market Update - December 13, 2024

1. Amazon shareholders urge the company to allocate 5% of its reserves to bitcoin: The proposal highlights bitcoin’s outperformance against traditional assets and echoes similar moves by companies like MicroStrategy and Tesla.
   
   
2. Crypto liquidations hit $1.5 billion Monday as bitcoin dipped below $95K: But the world’s largest cryptocurrency rallied past $101,000 on Wednesday after positive inflation data set the stage for a rate cut next week.
   
   
3. Ripple's RLUSD stablecoin secures approval from New York’s financial regulator: The launch will now proceed with exchange and market-maker partnerships already in place.
   
   
4. Hong Kong accelerates crypto licensing as global competition heats up: Plans include streamlined approvals for crypto trading platforms and new regulation for stablecoins.
   
   
5. The Cardano Foundation's X account was hacked, leading to fake announcements about a token and an SEC lawsuit: The breach triggered significant trading activity and community confusion before being addressed by the Foundation.
   

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