Crypto News Digest – MAXBIT

XRP excluded from White House crypto report 

All-encompassing 166-page digital asset policy report released by the White House does not mention XRP even once.

• No Mention of XRP. Despite being the third-largest cryptocurrency by market cap, XRP received zero mentions. 

The Ripple-linked XRP token has received exactly zero mentions in a recently published White House report despite being the third-biggest cryptocurrency with a market capitalization of $186 billion.  

• What’s in the Report. The document covers crypto trading rules, tokenization, stablecoin regulation, and more.

The all-encompassing 166-page digital asset policy report, which was published on July 30, addresses such issues as crypto trading rules, tokenization, stablecoin regulation and so on. Some of the individual projects that have been mentioned include Bitcoin, Ethereum, Solana, Chainlink and Uniswap. 

The largest cryptocurrency has secured a whopping 129 mentions. Satoshi Nakamoto, the mysterious Bitcoin creator, got 36 mentions, while proof of work, the consensus algorithm behind Bitcoin, has received 12 mentions. 

Over 4.6 trillion SHIB staked as investor confidence grows

Over $58.7 million in SHIB has been staked, signaling strong investor interest.

• Massive SHIB staking surge. Over 4.6 trillion SHIB tokens have been staked since 2021.

Since its iteration in 2021, Shiba Inu has continued to break major grounds in the DeFi space as investors’ interests continue to grow to new heights. Notably, the amount of SHIB staked since its emergence has surged to over 4.6 trillion, according to data from Shibburn. 

• What it means. SHIB holders are locking up tokens on DeFi platforms — a clear sign of confidence in long-term potential and commitment to supporting network operations.

While SHIB staking is a practice among investors who willingly lock up their SHIB holdings on DeFi platforms as efforts to support the network’s operations, the move reflects growing conviction among holders on SHIB’s potential price trajectory.

The data shows that a massive 4,646,715,230,750 SHIB tokens worth over $58.7 million have been locked on SHIB staking contracts, signaling surging ecosystem participation among SHIB enthusiasts and existing holders.

Ripple targets institutional DeFi growth with key new hire

Ripple aims to double down on institutional DeFi expansion with its new hire.

• New role at RippleX. Ripple is hiring a Vice President of Partnerships to lead institutional DeFi expansion on the XRP Ledger.

Ripple is seeking to hire a vice president of partnerships focused on institutional decentralized finance (DeFi) for its RippleX division. This VP will spearhead Ripple’s efforts to score institutional partnerships that will propel the adoption of the XRP Ledger.

• Strategic focus. What the new VP will do.

The job will require negotiating deals with asset managers, tokenization platforms, stablecoin providers and other players. These partnerships are supposed to have a measurable ecosystem impact with growing asset volume and market cap. 

The new hire will also need to look for new growth opportunities when it comes to DeFi and institutional adoption.