Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday, Ndaxers— Here’s what happened last week:
Grayscale Investments has launched the Grayscale XRP Trust, providing accredited investors exposure to XRP. Announced on September 12, the trust functions similarly to Grayscale’s other single-asset trusts, exclusively investing in the XRP Ledger (XRPL) token. While the trust is geared toward institutional and accredited investors, it could pave the way for an XRP exchange-traded fund (ETF), pending U.S. Securities and Exchange Commission approval. Grayscale’s four-phase product life cycle suggests the eventual goal of converting the trust into an ETF, further broadening investor access to XRP. Cointelegraph
MicroStrategy has acquired an additional 18,300 Bitcoin (BTC) for approximately $1.11 billion, bringing its total holdings to 244,800 BTC. Purchased at an average price of $60,408 per BTC, the company's latest transaction continues its aggressive Bitcoin accumulation strategy. This acquisition boosts MicroStrategy’s total Bitcoin investments to around $9.45 billion, with an average cost of $38,585 per BTC. The firm now controls over 1% of Bitcoin’s total supply, further cementing its position as one of the largest corporate holders of the cryptocurrency. crypto.news
Uniswap CEO Hayden Adams has denied recent allegations that Uniswap charges fees for protocol deployments. Responding to accusations on X (formerly Twitter), Adams clarified that neither Uniswap Labs nor the Uniswap Foundation imposes fees for such deployments, which are determined by governance votes. The controversy began when users, including Alexander and Millicent Labs co-founder Kene Ezeji-Okoye, claimed Uniswap demanded up to $20 million for a deployment. Cointelegraph
Anatoly Yakovenko, co-founder of Solana, has criticized Ethereum layer-2 network ZKsync for its governance model, arguing that it still resembles a multisig system despite claims of decentralization. Yakovenko expressed concerns that ZKsync’s governance could be vulnerable to legal intervention, potentially undermining its decentralized nature. This criticism follows ZKsync's recent announcement of a new governance structure involving a Token Assembly, Security Council, and Guardians. While ZKsync's co-founder, Alex Gluchowski, claimed this setup represents progress toward full decentralization, Yakovenko's remarks highlight ongoing skepticism about the network’s true level of decentralization. CryptoSlate
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