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Crypto

Former Ripple CTO says he accumulated lots of company stock early, holdings undisclosed

David Schwartz, Ripple\'s former chief technology officer, said he secured a significant amount of Ripple stock in the company’s early days. He made the remark on X after questions about the size of his retirement compensation following the disclosure of his XRP holdings. Schwartz did not disclose how much stock he owned, what price he paid or how much he still holds. Ripple’s valuation has risen in recent months.

Crypto

XRP whales accumulate 642 million near $1 on hopes for U.S. SEC easing

Large XRP holders accumulated more than 642 million XRP near the psychological support level of $1 as the U.S. Securities and Exchange Commission proposed measures to ease token fundraising rules. XRP traded around $1.0052 as broader crypto markets stabilised after last week’s drop. Big wallets increased holdings through additional purchases in early and mid-August, while large-value XRPL transactions surged. Ripple also raised funds via a private bond sale and reported diverging RLUSD burn trends across chains.

Crypto

Bitwise to cut workforce by 14 percent as crypto slump hits ETF firms

Bitwise cut about 14 percent of its workforce, reducing headcount from around 180 to about 155. The layoffs come as weakness in the cryptocurrency market spreads to spot bitcoin ETF issuers. Bitwise manages more than 70 products and about $9 billion in assets, including a $2.3 billion spot bitcoin ETF. The spot bitcoin ETF market totals about $77.5 billion, but assets are concentrated in larger funds such as BlackRock’s IBIT and Fidelity’s FBTC.