After backing and funding Bluesky when he was CEO of Twitter, Jack Dorsey has left the board of the social network.
Changpeng Zhao’s 4-month sentence a ‘general deterrence,’ says lawyer
CZ’s charges are serious, justified, and “sent a message” to the industry that compliance “must be taken seriously,” says lawyer and RMIT lecturer Aaron Lane.
Crypto Founder Predicts XRP Price Will Hit $22, Here’s When
A crypto founder recently gave his opinion on the future trajectory of the XRP price, and XRP holders will like this one as he predicts that the crypto token will hit $22. He also gave a timeline of when it will hit this price level.
When XRP Price Will Hit $22
In a YouTube interview with Zach Rector, Patrick Riley, the founder of Reaper Financial, mentioned that XRP will hit $22 at the peak of the next bull run. He further stated that the crypto token will hold above $10 in the next bear market after that bull run. The next bull run has been projected by many to occur in 2024, meaning that XRP could hit $22 next year.
Riley sounded so optimistic about the future of XRP. This isn’t surprising, considering that Reaper Financial is built on the XRP Ledger. The $22 price prediction isn’t the only bold assertion that the crypto founder made. He also foresees XRP surpassing Bitcoin at some point, although he didn’t give a particular timeline for that. When that happens, he believes that will see XRP materialize as the global reserve currency.
He alluded to the dollar failing and many possibly looking to cryptocurrencies for succor. There is a general belief that cryptocurrencies, especially Bitcoin, can act as a hedge against inflation. However, going by Riley’s prediction, XRP instead of Bitcoin will be the go-to token.
Talks about Inflation and the declining value of the US dollar have been discussed much of late. Renowned economist Peter Schiff recently warned that the fall of the US dollar was imminent and that the country’s economy is going to take a hard hit. Many believe that this could be a great avenue for cryptocurrencies to swoop in and save the day.
Making A Case For XRP
In a more recent video on his YouTube channel, Zach Rector made a case for XRP instead of Bitcoin as the future of finance. He hinted at how the transaction fees on the Bitcoin network affect its utility, as many are unable even to afford to transact on the network. Therefore, he believes that XRP is in a “better to change the world” and possibly the global financial structure.
Indeed, many believe that XRP is in a better position because of the transaction speed and fee of the network. The XRP ledger is said to be able to process 1,500 transactions per second and settle them in three to five seconds. Transaction cost on the network also stands at 0.00001 XRP, which is way below the average gas fee on the Bitcoin network.
At the time of writing, XRP is trading at around $0.6, down over 3% in the last 24 hours, according to data from CoinMarketCap.
Yuga Labs co-founder addresses comeback rumors amid ongoing health break
Wylie Aronow said he’s been seeing a number of tweets this week asking when he’s planning to return to the helm at Yuga Labs.
Judge accepts Binance CEO CZ’s guilty plea, with sentencing in Feb
This court “hereby accepts the guilty plea of the defendant to the charge […] and the defendant is adjudged guilty of such offense,” wrote Judge Richard Jones.
What’s next for the ‘crypto king’ Sam Bankman-Fried?
The former FTX CEO is headed back to prison and awaits a potential second trial in March, while his lawyers pledged to “continue to vigorously fight the charges against him.”
FBI searched Kraken co-founder’s home in March: Report
Electronic devices were seized from former Kraken CEO Jesse Powell’s Los Angeles home in connection to a non-crypto-related investigation into alleged hacking and cyberstalking.
Community slams NYT for its latest ‘sympathy piece’ on FTX’s Bankman-Fried
The article bizarrely contrasts the alleged fraud carried out by Sam Bankman-Fried with gang violence on the Bahamian island of New Providence.
SBF signs extradition papers, set to return to face charges in the US
The FTX founder has reportedly signed on the dotted line, bringing him a step closer to returning to US soil.
SBF reportedly files new bail application in the Bahamas Supreme Court
Bahamas media reports that Sam Bankman-Fried lodged a new bid for bail just two days after a judge denied his previous application and called the FTX founder a flight risk.
Celsius founder reportedly withdrew $10M before bankruptcy filing: FT
The details of the withdrawal will reportedly be part of upcoming court filings, and it’s possible the founder and former CEO of the crypto platform could be forced to pay it back.