BlackRock’s combined ETF holdings from spot Bitcoin ETF and | The Crypto Basic on Binance Square

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BlackRock’s combined ETF holdings from spot Bitcoin ETF and Ethereum ETF have now surpassed Grayscale’s holdings for the first time ever. 

#ETF #Crypto #CryptoNews” #CryptoNewssCommunity 

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#Ripple Chief Technology Officer David Schwartz has criticized suggestions that XRP is a security according to the IMF’s definition of a utility token. Last week, the International Monetary Fund (IMF) released the first update to its Balance of Payments and International Investment Manual since 2009, with the framework now including cryptocurrencies. While this update highlights the growing recognition of cryptocurrencies, the IMF’s classification of these assets has sparked debates. One such debate regarding XRP prompted a response from Ripple’s CTO, David Schwartz. Ripple CTO Reacts to IMF’s Classification of Utility Tokens Like XRP Schwartz has rejected suggestions that XRP qualifies as a security based on the IMF’s definition of a utility token. For context, the IMF’s new Balance of Payment Manual, BPM7, classifies crypto-assets according to whether or not they impose a financial claim or liability on the issuer. While the IMF argues that Bitcoin does not impose this liability due to the mining process, it suggests utility tokens—often referring to altcoins—do. It asserts that these assets are “debt securities” that offer holders future access to goods and services. This has led some to comment humorously, “XRP is about to be listed as a security permanently.” However, Schwartz counters that if XRP fits this definition of a utility token, then Bitcoin and Ethereum also fall within it. “If XRP is a utility token [or security per IMF] because you can use it to pay future transaction fees, then so are Bitcoin and Ethereum,” Schwartz asserted. Notably, if the IMF’s definition of utility tokens is taken literally, it could classify not only XRP but also other major assets like Ethereum and Solana as “debt securities.” Meanwhile, Ripple’s CTO stressed that he is not aware of any major token that fits the IMF’s security definition of a utility token. The latest debate over XRP’s classification comes as Ripple prepares to wrap up the legal battle in which the classification of XRP plays a central role.

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"SHIB ETF Incoming? Shiba Inu Devs Drop Bombshell on Why It’s the Ultimate Choice!"

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#shiba⚡ Inu burn rate spikes 8,470% as an anonymous user incinerates 1 billion SHIB tokens in a single transaction. Community-driven Shiba Inu burn tracker Shibburn indexed the latest transaction yesterday, confirming that 1 billion SHIB tokens moved to the official dead wallet from an unknown address, ‘0x55B…182E3’. With SHIB currently changing hands at $0.00001305, the dollar value of the 1 billion tokens is worth $13,050. On-chain data indicates that the transaction happened yesterday at 14:55 (UTC). A Regular SHIB Arsonist While the identity of the user behind the transaction remains unknown at press time, data from Etherscan suggests that the owner of the affiliated wallet has previously burned SHIB tokens. For instance, on March 15, the wallet transferred 1 billion SHIB to the dead wallet. Meanwhile, before the March 15 transaction, the last time the user burned SHIB was on August 7, 2024, when they incinerated 1 billion SHIB in a single transaction. They also burned 700 million SHIB tokens on February 10, 2024. Despite these hefty burns, the wallet still has a balance of 1 billion SHIB, currently worth $13,050. Shiba Inu Burn Rate Spikes 8,470% Besides the latest burn from ‘0x55B…182E3’ other Shiba Inu community members also sent some tokens to the dead wallet. Shibburn data shows that the community burned 1,004,897,157 (1.004 billion) SHIB yesterday via 14 transactions. The team behind ShibArmyStrong (SAS), an ERC-20 token, initiated five of these transactions, burning 20,933 SHIB in the process. With 1,004,897,157 SHIB burned in 24 hours, Shiba Inu’s burn rate spiked by 8,470%. Shiba Inu Burn Campaign The latest burn is part of efforts to drastically reduce SHIB’s circulating supply, with the aim of boosting the value of the remaining tokens in the long term. So far, over 410.74 trillion SHIB have gone up in flames. Besides individual burns, other Shiba Inu ecosystem projects, particularly Shibarium, also contribute to the ongoing burn efforts. #Crypto

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Leading blockchain payments company #Ripple has written to the SEC emphasizing its stance on providing regulatory clarity for crypto. Last month, Hester Peirce, the head of the SEC’s Crypto Task Force, requested public input on establishing clearer crypto taxonomy rules. Her request, titled “There must be some way out of here” suggests a desire to end the regulatory confusion created by the past SEC leadership. Ripple Responds In its response, Ripple criticized the past SEC leadership, particularly the one headed by Gary Gensler. The company emphasized that the SEC’s previous crypto guidance was overly confusing, long, and not backed by the law. Notably, it echoed that the past SEC thrived on creating confusion for market participants to cover its failure to faithfully follow the law. Ripple Proposes 3 Solutions Interestingly, Ripple made three proposals to help the U.S. SEC resolve the confusion created by the previous administration. Return to the First Principle To resolve this confusion, Ripple recommended that the SEC should return to its first principle by regulating only what constitutes securities as defined by federal securities laws. The company suggested that many digital assets, particularly those that do not generate yield or confer rights to profits, should not be classified as securities. Stay Within Statutory Bounds In addition, Ripple urged the SEC to follow the current law instead of establishing new ones that might create further confusion. The company pointed out that only the United States Congress has the ultimate power to create laws. Hence, the SEC should leave the creation of new rules to the U.S. Congress. Need for Clarity Furthermore, Ripple emphasized that the SEC should bring relief by providing regulatory clarity for the crypto market. In this view, the company praised the SEC Corporation Finance Division for clarifying that meme coins are not securities. This clearly suggests that meme-based cryptocurrencies are not subject to U.S. federal securities laws. #CryptoNew

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The Ripple CTO recently responded to a researcher’s claim that #XRP is the “biggest financial scam” the world has ever seen over low DEX volume. A discussion has emerged within crypto circles after analyst Aylo criticized XRP, calling it the largest financial scam in history. His criticism centered on the claim that XRP had produced little value despite reaching a massive $140 billion market capitalization. Ripple CTO Responds to Low DEX Volume Claims Aylo, who conducts research for blockchain resource Alpha Please, pointed to data suggesting that the XRP Ledger (XRPL) had only $44,000 in decentralized exchange (DEX) volume over a 24-hour period. Particularly, he shared a snapshot from DeFiLlama to support his argument, emphasizing that such a low volume was uncharacteristic for an asset with XRP’s market size. He further noted that the XRPL’s total value locked (TVL) stood at just $80.63 million, significantly lower than that of leading blockchain networks with established decentralized finance (DeFi) ecosystems. His comments triggered discussions about the actual utility of XRP and its network. Amid the discussion, Ripple’s Chief Technology Officer, David Schwartz, responded to Aylo’s assertion. He clarified that the specific data referenced likely only accounted for Automated Market Makers (AMMs) on the XRPL. I can't find the exact page you're looking at, but I bet that's just looking at AMMs on XRPL, a miniscule fraction of what people use XRP for. — David "JoelKatz" Schwartz (@JoelKatz) March 21, 2025 Since AMMs represent just a fraction of the network’s usage, he suggested that the quoted volume did not reflect the full scope of XRP’s utility. For context, XRP integrated AMM functionality recently, specifically last March. Despite being a decade-old network, XRPL had only recently pivoted toward DeFi, incorporating NFTs, AMMs, and stablecoins. This relatively new adoption has resulted in a DeFi ecosystem that remains underdeveloped compared to competitors. #CryptoNewss

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