Ripple CEO: No Cause For Alarm Regarding XRP Releases & More

Ripple CEO: No Cause For Alarm Regarding XRP Releases

In the last few days, some XRP community members have been calling on Ripple Executives to stop releasing XRP Tokens periodically in what they term as XRP dumping. According to CEO Brad Garlinghouse and CTO Joel Katz, the frequent release of XRP is for crowdfunding purposes for projects. However, the Token hodlers see it as a deliberate action to benefit Ripple owners while hurting investors. Some of them argue that the sharp increase in the supply of XRP leads to oversold conditions that affect prices negatively. However, Garlinghouse refutes these claims by saying that the rate of inflation of XRP is lower compared to BTC or ETH. He also says that Ripple has decided to cut future Token sales and hence there is no need for alarm.

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Telegram’s Native Token, Gram, To Hit The Market By End Of October

Following on Facebook’s example, another global social media platform is planning to deploy its own Crypto for peer to peer use cases. According to CoinRevolution, GRAM, the native Token is set to be unveiled by October this year. Unlike Facebook Coin, the Digital Token is set to be listed on exchanges as it is modeled after Bitcoin. Additionally, the Token is set to be managed by a third party that is not affiliated to Telegram to guarantee full autonomy of the Crypto. In the meantime, Telegram has sold some early Tokens to crowdfund for the upgrade of the Telegram Open Network [TON] to a Blockchain ecosystem that can support a GRAM Crypto wallet.

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Binance’s Venus Crypto Project Capitalizes On Compliance After Libra’s Woes

The Malta-based Cryptocurrency Exchange, Binance, is supporting the development of Cryptocurrencies in a project codenamed Venus. In an interview with Bloomberg, Binance co-founder, He Yi reveals that the exchange is primarily focusing on modeling a compliant Token ecosystem. This decision has been made after learning from Facebook’s Libra that has been hitting headlines as policymakers debate how to impose regulations. Venus project aims to deliver Cryptocurrencies for prospective from different industries. Furthermore, the initiative aims to enhance the adoption of the new Cryptos by targeting new markets that Libra and other Tokens will not be able to penetrate.

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