Here are some of the major developments in the world of crypto over the past few days.
Ripple Breaks New Ground SBI Group will become the first Japanese company to deploy the XRP Ledger (XRPL) blockchain supply chain solution as Ripple aims to drive enterprise blockchain solution use cases in Japan. SBI is breaking new ground in Japan after Ripple announced a strategic partnership with Tokyo-based consultancy HashKey DX. The latter is aimed at introducing XRPL enterprise solutions to the Japanese market. His SBI Group in Japan uses his XRPL in his supply chain and his solutions.
Over the past five years, HashKey Group has been developing and implementing blockchain-based supply chain finance solutions in mainland China. Since its founding in 2019, the company has more than 4,000 companies using its blockchain services, including 23 banks and 4,300 suppliers. The company reports total transaction volume of more than $7 billion. The company's blockchain solutions also funded transactions worth about $3 billion in China.
Infanger said TradFi players can finally bring financial assets on-chain and use them in production and to resolve vulnerabilities in various value chains. This happens not only in permissioned centralized networks but also in decentralized protocols such as XRPL, Stellar and Ethereum. Infanger said advanced discussions are underway with various financial institutions to explore tokenization projects to issue assets on the XRP ledger. These companies have sales plans and clear use cases for using blockchain technology, Cointelegraph reported.
Tether, operator of the eponymous $1.00 stablecoin Tether USDT, the world's largest stablecoin by market capitalization, has undergone a restructuring and completed a major investment. The investment was made through Tether Evo, a new division of Tether focused on the intersection of human potential and technology. Founded in 2008, Blackrock Neurotech is a global pioneer in human brain-computer interface (BCI) technology and is known for its advanced brain-computer interfaces.
Tether's $200 million investment in Tether is intended to fund the commercialization and implementation of a medical solution that he has already successfully used by more than 40 people. This investment will also be used to strengthen Blackrock Neurotech's research and development and maintain its position as a major player in BCI in the future, with a long-term focus on human evolution. Tether CEO Paolo Ardoino sees Blackrock Neurotech as just the beginning of the Tether Evo journey, supporting projects that advance technology and human potential.
Florian Solzbacher, co-founder of Blackrock Neurotech, says his Blackrock Neurotech mission to help people regain function is a long-term commitment that requires a committed and visionary partner. said. This news comes days after Tether launched four new divisions focused on different business areas on April 18, including Tether Data, Tether Finance, Tether Power, and Tether Edu.
ConsenSys' lawsuit against the U.S. Securities and Exchange Commission reveals further information regarding the SEC's position on Ether (ETH 3,057). According to a report by Fox Business producer Eleanor Terret, the SEC and Commissioner Gary Gensler believed, at least for a while, that ether was a security. Terret cited court documents filed by Ethereum software company ConsenSys on April 29, stating that the SEC and Gensler have been arguing for at least a year that Ether is an unregistered securities transaction that does not comply with applicable federal regulations. I wrote that I seemed to believe it.
On March 28, 2023, SEC Enforcement Director Gurbir Grewal approved a formal order to investigate Ether's status as a security, according to a new filing. The investigation, known as the Ethereum 2.0 investigation, reportedly gave law enforcement authorities the power to investigate and subpoena individuals and entities involved in buying and selling cryptocurrencies. The Ethereum 2.0 investigation is reportedly based on the SEC's assumption that unregistered offers and sales of Ether have been occurring since at least 2018.
A new document reveals that the five-member "Ethereum 2.0" committee of the Ministry of Enforcement has approved it. The investigation took place on April 13, 2023, just five days before Gensler appeared before the House Financial Services Committee to answer repeated questions about whether the SEC considers Ether a security. Rejected. The news comes days after applicants and companies involved in a potential U.S. Spot Ether exchange-traded fund claimed that the SEC is likely to delay a decision on approval of such a product to May.