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Show Summary
Ripple is now collecting fees from Wall Street’s leveraged-ETF business, and Jeff and Chip spend the morning on the question every holder is asking: when Ripple gets paid, where does that leave XRP? Their answer: Ripple’s revenue belongs to Ripple, and XRP holders benefit indirectly, through more builders and more activity on the XRP Ledger.
- Ripple Prime on Wall Street: The Wall Street Journal reports Ripple Prime is financing leveraged ETFs through swap deals, a category of 593 U.S. funds holding more than $256 billion, and it just signed hedge fund Brevan Howard for prime brokerage, clearing and financing.
- Company vs. asset: Jeff argues Ripple’s job is Ripple’s profitability, and banks will reach for RLUSD before a volatile asset. Chip says XRP’s role is liquidity, and that ETFs are what move the price.
- Evernorth: XRPN is expected to start trading on Nasdaq Monday with about 473 million XRP. There is no pre-sale, no airdrop and no early-access link.
- Batch is live on the XRP Ledger: up to 8 transactions can settle as one, which opens the door to delivery-versus-payment and OTC trades without an escrow agent.
- Ripple’s other moves: Ripple Custody 1.43 adds Canton Network support, Jack McDonald explains the Notabene investment, and Chip lays out why Ripple has no reason to go public.
- Also in the back half: a hardware-wallet supply-chain warning (buy direct from the maker), the H-1B visa fight and India’s IT outsourcers, the Michigan Senate debate between Mike Rogers and Abdul El-Sayed, and Marco Rubio on sanctioning the International Criminal Court.
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